Franklin

Franklin OnChain U.S. Government Money Fund

USDC

Polygon

Avalanche

<ul>
 <li aria-level="1">Grayscale Investments launches Grayscale Avalanche Trust, focusing exclusively on the AVAX token for accredited investors.</li>
 <li aria-level="1">Both Franklin Templeton and Grayscale embrace blockchain, enhancing options for digital asset investment and tokenization.</li>
</ul>
Franklin Templeton is making strides in the world of blockchain and digital assets by extending its tokenized money market fund, the Franklin OnChain U.S. Government Money Fund (ticker: FOBXX), to the Avalanche network.&nbsp;
Launched in 2021, FOBXX is distinguished as the first U.S.-registered mutual fund to employ a public blockchain for recording transactions and managing share ownership.
Accessible through Franklin Templeton‘s proprietary investments application, the BENJI token is already operational on the Stellar and Polygon networks. 
This tokenization facilitates both institutional and retail investors’ ability to acquire shares represented by tokens in the fund, which currently manages assets totaling $420 million. Moreover, these tokenized shares can be purchased using the USDC stablecoin.
Roger Bayston, Head of Digital Assets at Franklin Templeton, expressed optimism about the integration with Avalanche.
<blockquote>
 &nbsp;“Bringing the Benji platform to the Avalanche network expands access to our pioneering tokenized money market fund. We are eager to engage with Avalanche’s active developer community to introduce further blockchain-enabled solutions into the market,” he stated.
</blockquote>
As we <a href="https://www.ethnews.com/grayscale-prepares-for-ethereum-etf-launch-with-massive-transfers/" rel="noopener noreferrer nofollow">reported on ETHNews</a>, simultaneously, Grayscale Investments has broadened its array of cryptocurrency investment products with the introduction of the Grayscale Avalanche Trust. The new trust offers accredited investors the opportunity to <a href="https://www.ethnews.com/analyst-avalanche-avax-undergoes-healthy-retreat-potential-rebound-anticipated/" rel="noopener noreferrer nofollow">invest in AVAX</a>, the principal token of Avalanche’s blockchain platform.
Currently accepting daily subscriptions, the Grayscale Avalanche Trust operates on a similar model to Grayscale’s other single-asset investment products, which focus solely on one cryptocurrency— in this case, AVAX.&nbsp;
Rayhaneh Sharif-Askary, Grayscale’s head of product and research, highlighted the launch.&nbsp;
<blockquote>
 “The Grayscale Avalanche Trust underscores our dedication to offering investors novel ways to participate in the dynamic crypto environment,” she explained.&nbsp;
 “Avalanche’s strategic alliances and its distinctive, multi-chain architecture are crucial for the progression of real-world asset tokenization.”
</blockquote>
Grayscale’s portfolio includes a variety of investment trusts that target different cryptocurrencies, such as Bitcoin, Ethereum, Solana, Litecoin, Zcash, <a href="https://www.ethnews.com/avalanche-and-chainlink-partnership-sparks-massive-rally-for-avax-and-link/" rel="noopener noreferrer nofollow">Chainlink</a>, and Decentraland, providing investors with structured exposure to these digital assets through trust shares.
The post <a href="https://www.ethnews.com/franklin-templeton-and-grayscale-shake-up-crypto-massive-moves-to-avalanche-and-avax-trust-launch/" rel="noopener noreferrer nofollow">Franklin Templeton and Grayscale Shake Up Crypto: Massive Moves to Avalanche and AVAX Trust Launch!</a> appeared first on <a href="https://www.ethnews.com" rel="noopener noreferrer nofollow">ETHNews</a>.

Franklin Templeton and Grayscale Shake Up Crypto: Massive Moves to Avalanche and AVAX Trust Launch!

ETHNews

Other articles published on Aug 22, 2024

56,000 Solana (SOL) Exits Binance in Epic Whale Shift

Man Who Foretold Trump’s Assassination Attempt Makes Bold Prediction About XRP

Elon Musk’s Tweet Boosts Dogecoin Price Expectations

Is Unimantic a scam? Unmasking the Unimantic Protocol Presale Scam

Marathon Digital to Raise $250 Million to Boost Bitcoin Holdings

MetaBeat Signs $2 Million Funding MOU with Burrito Wallet and Liquid Chang

Join our free newsletter for daily crypto updates!