Franklin Templeton, the issuer of U.S. spot Bitcoin ETFs, is considering launching a new cryptocurrency fund that would invest in tokens other than BTC and ETH, according to The Information, citing anonymous sources. .
In addition to the spot Bitcoin ETF, which has over $350 million under management, Franklin Templeton has applied to list a spot Ether ETF, according to The Block Data Dashboard.
Once this new cryptocurrency fund launches, Franklin Templeton is considering offering staking rewards as part of the fund, the report states. When the spot Ethereum ETF received initial approval last month, the proposed financial product did not include staking rewards.
Franklin Templeton did not immediately respond to The Block’s request for comment.
The success of Franklin Templeton’s spot Bitcoin ETF pales in comparison to offerings from BlackRock and Fidelity, but the company is said to be keen on expanding its digital asset business outside the United States, according to the report.
Franklin Templeton is a wealth manager founded in 1947. The company manages more than $1 trillion in assets.
Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.
© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.
About the author
RT Watson is a senior reporter at The Block, covering a variety of topics including US-based companies, blockchain games, NFTs, and more. He previously covered entertainment for The Wall Street Journal and has covered companies including Disney, Netflix, and Warner Bros. and the creator economy, with a primary focus on technological innovation across media. Previously, she covered corporate, economic and political news in Brazil at Bloomberg. She interviewed a wide range of figures for RT, including CEOs, media moguls, top influencers, politicians, blue-collar workers, drug traffickers, and convicted criminals. She holds a Master’s degree in Digital Sociology.