Asset management giant Franklin Templeton has announced that it is setting up a second blockchain fund in 2021 after first entering the crypto market.
The Franklin Templeton Blockchain Fund II, which is the official name of the new fund, will be a private equity fund with a minimum investment amount of $100,000, according to the SEC. Admission,
The rather high minimum investment amount indicates that the firm is targeting institutional investors and high-net-worth individuals with its new fund.
The new fund is different from Firm’s first blockchain fundA Venture Capital Fund with investments focused on the 10-15 largest digital assets.
The firm’s original blockchain funds were held with so-called segregated managed accounts (SMAs), which are often preferred by financial institutions and mean that one client’s funds are not pooled with those of other clients. Is.
The move to set up another crypto-focused fund is seen as another sign that mainstream finance has begun to accept crypto as an asset class. It also shows that the existing financial services industry is eager to capitalize on the influx of money into crypto.
Franklin Templeton is known as the most crypto-friendly asset manager in the industry, and the firm has in the past Appointed Analysts To Both Crypto Traders for its venture into the digital asset space.
Notably, the asset manager has also been a proponent for the tokenization of traditional financial assets, and the use of on-chain transactions. stellar Network for its onchain US government money market fund.
Franklin Templeton is one of the largest asset managers in the US with over $1.4 trillion in assets under management.