Franklin Templeton Expands $410M Money Market Fund to Ethereum Blockchain
Summary
Franklin Templeton has expanded its OnChain U.S. Government Money Market Fund (FOBXX) to Ethereum, the second-largest blockchain by market cap. The fund, which launched in 2021, uses Stellar as its primary blockchain and has added Coinbase’s Base, Aptos, and Avalanche this year. FOBXX has a $410 million market cap, ranking as the third-largest tokenized money market fund. BlackRock’s USD Institutional Digital Liquidity Fund leads with $545 million, followed by Ondo’s U.S. Dollar Yield at $452 million. Ethereum is the leading blockchain for issuing tokenized treasuries, managing over $1.6 billion in assets. Grayscale highlights Ethereum's decentralization and neutrality as key advantages for tokenization.
