Trillion-Dollar Asset Manager Franklin Templeton Explores New Crypto Fund

Franklin Templeton, the 77-year-old mutual fund heavyweight named in honor of founding father Benjamin Franklin, is exploring launching a new crypto fund that will invest in a range of tokens beyond bitcoin and ether, according to people with direct knowledge of the effort.

While some traditional asset managers like BlackRock and Fidelity have launched exchange-traded funds investing in bitcoin and are planning for an ether ETF next, Franklin Templeton would be unusual in offering exposure to so-called altcoins in addition to the two mainstream cryptocurrencies. The new fund would be structured as a private fund that caters to institutional investors, the people said.