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Crypto asset class has “thematic tailwind” – Crypto News

  • Franklin Templeton expects to offer crypto products “when the regulatory landscape allows for that opportunity,” says the company’s head of digital assets
  • The company recently completed fundraising for its first blockchain-focused venture capital fund

Though Franklin Templeton is bullish on crypto as an asset class, the wealth manager is seeking more regulatory clarity before offering ETFs focused on the segment.

Based in San Mateo, California, the company has approximately $1.45 trillion in assets under management as of April 30 and has clients in more than 150 countries.

“Franklin Templeton understands that cryptocurrencies represent distinct tokenomics of blockchain and distributed ledger technology systems,” Roger Bayston, Franklin’s head of digital assets, told Blockworks.

“We believe they are an asset class that has a lot of thematic tailwind as industries start to unlock the potential of blockchain and new types of digital assets are created.”

According to ETF.com, the company has 55 ETFs traded in the US with total assets of nearly $1.7 billion. Bayston said Franklin Templeton is monitoring regulations surrounding ETFs and is considering this delivery mechanism to give clients access to key blockchain investment strategies.

Though rival money managers like BlackRock and Fidelity have recently launched ETFs focused on blockchain technologies, Franklin Templeton is still pondering the right time to jump in.

“We expect to offer quality products when the regulatory landscape provides that opportunity for investors,” Bayston said.

LinkedIn job postings from last week indicate that Franklin Templeton is seeking an investment research analyst to join its crypto asset management team.

The analyst would cover assets such as bitcoin and ether, develop and maintain valuation models, and update executives on protocol regulations, staking and business opportunities, the announcement said. He or she would also help in the development and management of new products in the crypto asset space.

The firm has not commented on other crypto-related roles it may seek to fill.

Other involvement in crypto

Franklin Templeton revealed an official registration in September that it was preparing a venture capital fund focused on the blockchain space. The document shows that the company had raised $10 million for the fund so far and planned to raise another $10 million before launch.

Bayston confirmed that the company recently completed fundraising for the fund, but did not comment on the fund’s specifics, such as its final size.

“Franklin Templeton is active in projects across the blockchain lifecycle, from investing in the early stages of building new protocols and companies built on those protocols, to advising on various portfolio constructions of more mature and more widespread blockchains ,” he said.

The parent company of the fund group made a strategic investment in crypto separately managed account platform Eaglebrook Advisors in April.

Roger Paradiso, Franklin Templeton’s head of product solutions, said in a statement at the time that the company would seek to offer its partner firms, advisors and clients recommended solutions within the asset class.


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The post Franklin Templeton Exec: Crypto Asset Class has ‘Thematic Tailwinds’ is not financial advice.

Source: Crypto News Austria

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