Franklin Templeton is preparing to integrate its tokenized money market fund, Franklin Onchain U.S. Government Money Fund (BENJI), into exchange-traded funds and mutual funds as either a portfolio holding or collateral, in a structure tied to roughly $2.6 billion in assets. The move could begin as early as the fourth quarter. The U.S. Securities and Exchange Commission has allowed the structure under a no-action position, permitting Franklin Templeton funds to use BENJI for cash management and collateral purposes, though each fund’s board approval is still required. Franklin Templeton currently manages more than 130 ETFs with about $82 billion in ETF assets, alongside roughly $790 billion in mutual fund assets. The firm has already distributed tokenized funds through digital wallets and is planning additional tokenized products for broader use across its fund lineup. The tokenized asset market has now grown to more than $38 billion.
Franklin Templeton plans to bring its tokenized money market fund, Franklin Onchain U.S. Government Money Fund (BENJI), into exchange-traded funds and mutual funds as either a holding or collateral, covering about $2.6 billion in assets. The rollout could start as early as the fourth quarter.
The U.S. Securities and Exchange Commission has permitted the structure through a no-action position. That allows Franklin Templeton funds to use BENJI for cash management and collateral purposes, although the arrangement still needs approval from each fund’s board.
Franklin Templeton currently manages more than 130 ETFs and about $82 billion in ETF assets. Its mutual fund assets total roughly $790 billion.
The firm has already distributed tokenized funds through digital wallets. It also plans to launch more tokenized products for cash or collateral management across its broader fund lineup.
The tokenized asset market now exceeds $38 billion.
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