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Fund management giant Franklin Templeton is considering launching a new crypto fund that would invest in assets other than bitcoin and ethereum.
That is according to a crypto-fund” target=”_blank” rel=”noopener”>report per The Information, which said the new fund could also include staking rewards for institutional investors.
Franklin Templeton, which has $1.6 trillion in assets under management, has already dipped its toe into cryptocurrencies with the launch earlier this year of a spot bitcoin ETF (exchange-traded fund). He is also among the applicants awaiting final approvals for Ether spot ETFs.
Will Solana be next on Wall Street?
The cryptocurrency market has been abuzz with speculation about the next altcoin chosen by Wall Street for inclusion in an ETF after the US securities regulator approved eth spot ETFs.
Solana has received the most attention as it is popularly known as the “rival of ethereum.” Earlier this year, Franklin Templeton praised the growth of the Solana network, saying it had achieved a powerful use case for decentralized applications.
<blockquote class="twitter-tweet” data-width=”550″ data-dnt=”true” wp_automatic_readability=”11.398119122257″>
At Solana, we see Anatoly's vision of a single atomic state machine as a powerful use case for decentralized blockchains, reducing information asymmetry. And we are impressed by all the activity seen in Solana in the fourth quarter of 2023.
-DePIN
-DeFi
-meme coins
–nft Innovation
-fire dancer
-Franklin Templeton (@FTI_US) twitter.com/FTI_US/status/1747717389943558630?ref_src=twsrc%5Etfw”>January 17, 2024
Last month, Standard Chartered Bank head of crypto research Geoffrey Kendrick twitter.com/JoelCamero61105/status/1794223764261183762″ target=”_blank” rel=”noopener”>saying that Solana could join bitcoin and Ether ETFs on Wall Street in 2025.
In February, Ripple CEO Brad Garlinghouse told Bloomberg that it “just makes sense” to introduce an XRP ETF and that additional crypto ETFs are inevitable.
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