Franklin Templeton targets altcoin opportunities with new fund

Asset management giant Franklin Templeton is targeting the burgeoning altcoin market, with plans to launch a private fund aimed at institutional investors. This initiative marks a significant expansion from its current cryptocurrency commitments, which include Bitcoin and Ether funds.

In a June 6 report from The Information, insiders reveal that Franklin Templeton is exploring the potential of altcoins, highlighting the company’s recent praise of the Solana network’s performance. The new fund aims to capitalize on the robust growth of decentralized exchanges, exemplified by Solana’s impressive 319% volume increase in early 2024.

Innovations in cryptocurrency investing

Additionally, Franklin Templeton continues to innovate with its cryptocurrency offerings. Following the approval of its spot Ether ETF by the SEC, the firm is now integrating USDC stablecoin transactions into its Franklin OnChain US Government Money Fund.

This integration, facilitated by Zero Hash, allows investors to use USDC to interact with the money market, underscoring the company’s commitment to integrating blockchain technology into traditional financial structures.

Franklin Templeton’s forward-thinking strategies strengthen its position as a leader in the fusion of blockchain and traditional finance. Ongoing developments promise to provide institutional investors with diverse and dynamic investment opportunities in the crypto space.

Read also: Franklin Templeton CEO: All Investment Funds Will Move to Blockchain

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