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Ethereum’s popularity with asset issuers grows as Franklin Templeton brings its $410 million fund to the blockchain.
Author: DL News
Key Takeaways
Franklin Templeton’s $410M fund joins Ethereum amid growing tokenized treasury market. Ethereum dominates the tokenized treasury market with $1.6 billion in assets, capturing 71% of total AUM. <?xml encoding="UTF-8"?>Franklin Templeton expanded trading of its OnChain U.S. Government Money Market Fund (FOBXX) to the Ethereum blockchain, adding to its multi-chain presence in the tokenized asset space.
The $410 million fund, which launched in 2021 as the first money market fund to use public blockchain for tracking transactions and ownership, now ranks as the third-largest tokenized money market fund.
BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) leads with $545 million, followed by Ondo’s U.S. Dollar Yield (USDY) at $452 million.
The asset manager has been actively expanding the fund’s blockchain support, recently adding Coinbase’s Base, Aptos, and Avalanche networks, while maintaining Stellar as its primary public blockchain.
BlackRock also expanded its BUIDL fund yesterday to include blockchain networks such as Aptos, Arbitrum, Avalanche, Optimism’s OP Mainnet and Polygon.
Ethereum currently dominates the tokenized treasury market with $1.6 billion in assets, positioning itself ahead of Stellar (XLM) and Solana (SOL).
Currently, approximately 71% of tokenized Treasury fund assets under management (AUM) are on Ethereum, followed by 17% on Stellar and 5.8% on Solana, according to data by rwa.xyz.
The remaining funds are distributed across smaller networks, including Arbitrum, Noble, Optimism, Mantle, Aptos, Sui, and Base.
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