Wall Street asset manager Franklin Templeton is considering launching a new altcoin-focused crypto fund.
The private fund would be catered to institutional investors, and may also potentially offer staking rewards, according to a report Thursday inThe Information citing people with direct knowledge of the plans.
Franklin Templeton, the American finance behemoth that manages some $1.6 trillion in assets, is no stranger to crypto. The firm has been involved in digital assets since 2018; it launched aspot Bitcoin ETFin January, and will be among the first issuers of recently-approvedspot Ethereum ETFs.
By diving beyond those two blue-chip cryptocurrencies into the realm of altcoins, the Wall Street titan appears to be signaling a comfort with the types of tokens that the U.S. Securities and Exchange Commission (SEC) has longclassifiedas unregistered securities.
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But Thursday’s move comes, crucially, in the wake of the SEC’s abruptapprovalof spot Ethereum ETFs last month—despite the regulator having allegedlyclassifiedEthereum internally as an unregistered security for over a year. Experts took the about-face to signal the proverbial opening of a floodgate, andpredictedthat other altcoins will soon become integrated with American financial markets.
Moody’s has awarded an “A-bf” bond fund rating to Hill Lights International Limited, the issuer of OpenEden’s tokenized US T-bills, TBILL.
This rating elevates TBILL tokens to the investment-grade category.
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Andrew Tate, a social media influencer and former professional kickboxer, recently ignited controversy in the crypto community. On Friday, he began promoting various tokens in the Solana (SOL) ecosystem while posting inflammatory statements on Twitter, creating a social media storm.