Franklin Templeton planned to dive into the digital assets based business. They are raising funds for their blockchain venture fund. Right now they raised a total of $10 million.
In the present time almost all the fund manager companies are willing to go with the crypto Investment or rypto related Investment. Recent reports also say that fund manager firms are forcing the regulators to approve the Bitcoin ETF related products, this shows how much need of crypto space is for the fund manager companies. Franklin Templeton became the latest to expand their business in crypto.
Franklin Templeton is one of the world’s largest asset managers. And this firm manages around $1.5 trillion in assets.
Franklin Templeton filed with the SEC and through the filing claimed that they are raising $20 million funds for the Franklin Templeton Blockchain Fund I, L.P.
Right now, the Firm raised around $10 million and is looking forward to another $10 million, so that they can perfectly enter in the blockchain & crypto based business.
Here, we can’t say whether the firm is going for direct investment in crypto assets or planned to invest in blockchain based startups or something else with unique concept.
Around one month ago, This firm was hiring for the cryptocurrency research analyst expert on linkedin.
“We are looking for an investment Research Analyst—Crypto Currency to provide research coverage for the largest, most liquid listed and tradable crypto assets (e.g., BTC, ETH, etc). The Analyst will be expected to help develop and manage new products in the Crypto Asset space,”original hiring post on LinkedIn
Here it is worth noting that Franklin Templeton already has an Investment in the digital assets based firm “Amberdata” with around $15 million, during a Series A funding round.