Franklin Templeton Considers Launching Altcoin Crypto Fund
Franklin Templeton, a Wall Street asset manager, is contemplating the introduction of a new crypto fund focusing on altcoins. This private fund would be designed for institutional investors and could potentially offer staking rewards as well.
Details of the New Crypto Fund
- Franklin Templeton considering launching a new altcoin-focused crypto fund
- Targeted towards institutional investors
- Potential inclusion of staking rewards
Franklin Templeton’s Background in Crypto
Franklin Templeton, with assets under management totaling $1.6 trillion, has shown interest in the digital asset space since 2018. The firm recently launched a spot Bitcoin ETF and will also participate in issuing spot Ethereum ETFs. This move indicates the firm’s willingness to venture into altcoins beyond the established cryptocurrencies of Bitcoin and Ethereum.
Implications of the SEC’s Approval of Spot Ethereum ETFs
Following the SEC’s unexpected approval of spot Ethereum ETFs, despite Ethereum previously being classified as an unregistered security, experts predict increased integration of altcoins into US financial markets. This regulatory development has opened up possibilities for other altcoins to become part of the mainstream financial system.
Hot Take: Institutional Interest in Altcoins on the Rise
Institutional investors are showing increasing interest in altcoins, prompting established financial entities like Franklin Templeton to explore opportunities in the crypto market beyond Bitcoin and Ethereum. The potential launch of an altcoin-focused fund by Franklin Templeton reflects a growing trend of institutional involvement in the broader cryptocurrency ecosystem.
**Sources:**
1. [The Information – Franklin Templeton explores new crypto fund](https://www.theinformation.com/articles/trillion-dollar-asset-manager-franklin-templeton-explores-new-crypto-fund)
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