Franklin Templeton to Launch Second Blockchain Fund

A fresh blockchain fund targeting institutional investors is in the pipeline for global investment giant Franklin Templeton.

Franklin Templeton, an American multinational holding company boasting a whopping $1.4 trillion in assets under management, is expanding its crypto market offerings with the upcoming launch of a second blockchain fund.

The news was revealed by the filing submitted to US Securities and Exchange Commission on May 10th.

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The new private equity fund, dubbed Blockchain Fund II, requires a minimum investment of $100,000, setting it apart from its venture capital-focused predecessor launched in late 2021.

Moreover, it’s distinct from the company’s previous crypto venture, which involved investment in the 10-15 largest digital assets via separately managed account (SMA) strategies.

Franklin Templeton has long advocated for blockchain technology’s potential to bolster traditional financial instruments. The firm has been processing transactions for its OnChain US Government Money Market Fund (FOBXX) using the Stellar and Polygon networks.

Franklin Templeton’s plans to launch a fund linked to blockchain technology showcase the ever-growing interest of mainstream financial institutions in blockchain and digital asset investments. However, it is not the only financial company stepping its foot into blockchain technology.

At the end of last year, the US securities regulator approved nine New York-based asset management firm WisdomTree blockchain-enabled funds. As well as Franklin Templeton, WisdomTree uses Stellar to hold records of share ownership.