{"id":90761,"date":"2024-08-22T10:10:49","date_gmt":"2024-08-22T14:10:49","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=90761"},"modified":"2024-08-22T10:10:53","modified_gmt":"2024-08-22T14:10:53","slug":"franklin-templeton-money-market-fund-extends-to-avalanche","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/franklin-templeton-money-market-fund-extends-to-avalanche\/","title":{"rendered":"Franklin Templeton Money Market Fund Extends to Avalanche"},"content":{"rendered":"\n

Franklin Templeton, a global asset management<\/a> firm, has extended its Franklin OnChain US Government Money Fund to the Avalanche network.<\/p>\n\n\n\n

\"Franklin
Franklin Templeton Money Market Fund Extends to Avalanche <\/figcaption><\/figure>\n\n\n\n

The “first-of-its-kind onchain money market fund” on Avalanche will be the “expansion to the layer-1 blockchain,” as stated in a press release shared with Cointelegraph.<\/p>\n\n\n\n

Benji Investments, Franklin Templeton's blockchain-integrated record-keeping system, is accessible to institutional investors through the fund inaugurated in 2021.<\/p>\n\n\n\n

\n

\u201c[Investors] may hold their wallets on the Avalanche network upon request and subject to eligibility.\u201d<\/p>\n<\/blockquote>\n\n\n\n

The decision to expand to Avalanche<\/h2>\n\n\n\n

The decision of Franklin Templeton to expand to Avalanche is a continuation of the firm's existing digital asset initiatives, which has been evident in the digital assets <\/a>teams' emphasis on blockchain technology since 2018.<\/p>\n\n\n\n

John Wu, president of Ava Labs, expressed his enthusiasm for the fund's expansion to the Avalanche network in the press release:<\/p>\n\n\n\n

\n

\u201cFranklin Templeton shares a mutual commitment to developing transformative digital financial products and services that will meet onchain investor demand today and bring offchain capital and users into the ecosystem tomorrow.\u201d<\/p>\n<\/blockquote>\n\n\n\n

Wu elucidated the importance of the fund's expansion into the Avalanche ecosystem in a Q&A with Cointelegraph, characterizing it as a “foundational piece.”<\/p>\n\n\n\n

\n

\u201cBlockchain and tokenization enable traditional finance to more easily reach people and businesses, offering new capabilities that are not possible via traditional rails.\u201d<\/p>\n<\/blockquote>\n\n\n\n

ETF filing for Franklin Templeton<\/h2>\n\n\n\n

The global asset management firm applied to the United States Securities and Exchange Commission on August 16 to establish a new exchange-traded fund (ETF).<\/p>\n\n\n\n

Designed to serve as a comprehensive crypto portfolio and monitor the performance of the CF Institutional Digital Asset Index, the Franklin Crypto Index ETF\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> is a novel exchange-traded fund (ETF).<\/p>\n\n\n\n

According to Katalin Tischhauser, the director of investment research at Sygnum, index ETFs are the “next logical step” due to the efficiency of indices for investors.<\/p>\n\n\n\n

Fund launch on Arbitrum<\/h2>\n\n\n\n

Franklin Templeton also announced the fund launch on Arbitrum on August 8, aiming to bridge the gap between traditional and decentralized finance.<\/p>\n\n\n\n

To generate low-risk investment yields, users of the fund on the Benji Investments platform can acquire and hold its tokenized shares on Arbitrum.<\/p>\n\n\n\n

Franklin Templeton now provides tokenized shares on Avalanche, Arbitrum, Stellar, and Polygon due to the fund's extensive endeavours, including the Avalanche network.<\/p>\n","protected":false},"excerpt":{"rendered":"

Franklin Templeton, a global asset management firm, has extended its Franklin OnChain US Government Money Fund to the Avalanche network. The “first-of-its-kind onchain money market fund” on Avalanche will be the “expansion to the layer-1 blockchain,” as stated in a press release shared with Cointelegraph. Benji Investments, Franklin Templeton’s blockchain-integrated record-keeping system, is accessible to […]<\/p>\n","protected":false},"author":12,"featured_media":84947,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[19268,21475,21476],"class_list":["post-90761","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-franklin-templeton-2","tag-avalanche-network","tag-money-market-fund"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/Franklin_Templeton_etf.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90761","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=90761"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/90761\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/84947"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=90761"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=90761"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=90761"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}