Franklin Templeton (NYSE:BEN), a trillion-dollar asset manager, is considering launching a new fund to invest in various cryptocurrencies beyond Bitcoin (BTC-USD) and Ether (ETH-USD), according to The Information. However, the fund will be aimed at institutional investors only, meaning that regular investors won’t be able to get in on the action.
Franklin Templeton has recently been in discussions with service providers to prepare for the potential fund, which may be actively managed and could potentially provide staking rewards for validating blockchain transactions. It’s worth noting that this isn’t Franklin’s first step into crypto, as the asset manager has been involved in digital assets since 2018 and has since started several blockchain-related projects.
Is Bitcoin a Good Investment?
Using TipRanks’ technical analysis tool, the indicators seem to point to a positive outlook. Indeed, the summary section pictured below shows that 15 indicators are Bullish, compared to two Neutral and five Bearish indicators. This comes after a 68% year-to-date rally.
