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Franklin Templeton Files Crypto Fund for Institutional Investors

2 mins
Updated by Kyle Baird
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In Brief

  • Franklin Templeton has made a filing with the SEC related to a crypto fund for institutional investors.
  • The firm had previously revealed a fund for investment professionals in 2022.
  • Franklin Templeton has also launched an ETF that is associated with the metaverse.
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Trillion-dollar fund manager Franklin Templeton has filed for another crypto fund for institutional investors.

Franklin Templeton, which manages assets amounting to about $1.4 trillion, will launch a crypto fund for institutional investors. The investment company made a related filing with the United States Securities and Exchange Commission (SEC), which would be called the Franklin Templeton Blockchain Fund II.

This is the second crypto-related fund that Franklin Templeton has introduced after it revealed a fund for separately managed accounts (SMAs) to investment professionals in late 2022. The move is a significant one and a sign that more traditional financial firms wish to offer products related to crypto.

According to the filing, the minimum investment sum for the fund is $100,000. There isn’t much more detail available, though that should change in the months to come.

The filing states that the fund won’t likely be open for more than a 12-month period. The firm has not yet commented publicly on the matter.

It’s clear that private equity is really taking to the crypto market. 2023 may see more such filings from established financial firms, which are eager to tap into the market.

Fund Manager Launched a Mutual Fund on Polygon

Franklin Templeton is one of the largest established firms that really appears to be picking up the pace when it comes to introducing crypto products. The company made a landmark decision by putting one of its products on the Polygon blockchain. Called the OnChain U.S. Government Money Market Fund (FOBXX), this product tokenizes U.S. government securities, cash, and repurchase agreements.

As a result, it is the first U.S.-registered mutual fund that uses a blockchain network for logging and processing transactions. The Stellar network has also announced that the fund is available on its network.

Franklin Templeton Metaverse ETF

Franklin Templeton has also launched an ETF that focuses on the metaverse and blockchain ETFs. The firm believes that there is potential in the metaverse. It is a pioneering concept that will break ground in the years to come.

The ETF, which is called the Franklin Metaverse UCITS ETF, tracks the Solactive Global Metaverse Innovation Net Total Return Index. The latter tracks the equity securities of companies that are working on metaverse initiatives or have exposure to it.

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Rahul Nambiampurath
Rahul Nambiampurath's cryptocurrency journey first began in 2014 when he stumbled upon Satoshi's Bitcoin whitepaper. With a bachelor's degree in Commerce and an MBA in Finance from Sikkim Manipal University, he was among the few that first recognized the sheer untapped potential of decentralized technologies. Since then, he has helped DeFi platforms like Balancer and Sidus Heroes — a web3 metaverse — as well as CEXs like Bitso (Mexico's biggest) and Overbit to reach new heights with his...