Investment giant Franklin Templeton announces plans to create a $20M blockchain fund
Franklin Templeton, the US-based asset management company, has announced plans to create a $20 million (~£14.5 million) fund to finance blockchain projects and cryptocurrency organisations.
Filing with the SEC
Just recently, investment giant Franklin Templeton filed a “Form D” with the US Securities and Exchange Commission (SEC), informing the regulator that it intends to create a venture capital fund for blockchain projects and raise $20 million (~£14.5 million) in funding for it. According to Franklin Templeton’s announcement yesterday, the organisation has already received $10 million (~£7.2 million) at this stage.
Documentation for the upcoming fund does not provide any details regarding the future of the investments, but according to Nairametrics, most of the proceeds will be used to fund cryptocurrency organisations and blockchain projects.
Franklin Templeton is one of the largest financial institutions in the United States, with a history dating back to 1947. At the moment, the investment giant manages about $1.5 trillion (~£1 trillion) in assets, so $20 million (~£14.5 million) is quite a small ammount.
Last month, Franklin Templeton announced that it was interested in hiring a cryptocurrency analyst to join the future fund’s team and research the largest and most active digital assets. Moreover, the vacancy also entails developing and managing cryptocurrency-related products.
Subscribe to our daily and weekly newsletter service to receive a digest of the latest news in the cryptosphere and never miss out on any of the Cointribune's highlights!
Hi everyone, thanks for reading my article! Join me on my journey to crypto enlightenment, we can always learn something new from each other – no one person has all the knowledge in the world.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.