Franklin Templeton has expanded its $410 million OnChain U.S. Government Money Market Fund (FOBXX) to the Ethereum blockchain, adding another major blockchain to the fund’s portfolio. According to a recent reportthe fund, launched in 2021, is already available on several other blockchains, including Base (BASE), Aptos (APT-USD), and Avalanche (AVAX-USD). Its move to Ethereum marks a significant development as Ethereum is the second largest blockchain by market capitalization.
Ethereum Leads Blockchain for Tokenized Assets
Ethereum remains the top choice for tokenized traditional assets, managing $1.6 billion in assets. As noted by rwa.xyzEthereum is far ahead of competitors like Stellar (XLM-USD) and Solana (SOL-USD) when it comes to issuing tokenized treasury shares. This widespread use of Ethereum reinforces its dominance in the space.
The role of blockchain is growing in the tokenization of assets
Franklin Templeton’s decision to integrate Ethereum is a nod to blockchain’s growing role in asset tokenization. Grayscale The April report highlighted that Ethereum’s decentralization makes it a strong contender for global asset tokenization, positioning it to thrive in this evolving market. As the digital finance industry grows, Ethereum’s place appears stronger than ever.
Investors can visit TipRank’s Ethereum ETF comparison tool to find the best ETF for their investment needs.
