OnChain Money Market Fund Now on Ethereum
Franklin Templeton has expanded its $410 million OnChain U.S. Government Money Market Fund (FOBXX) to the Ethereum blockchain. Already available on Base, Aptos, and Avalanche, the addition of Ethereum increases accessibility to one of the largest tokenized government money market funds, aligning with Ethereum’s role as a leader in tokenized assets.Ethereum’s Growing Role in Tokenized Markets
Ethereum handles more tokenized traditional assets than any other blockchain, with a $1.6 billion market cap. Franklin Templeton’s expansion adds further credibility to Ethereum as the preferred platform for secure and decentralized asset tokenization.Competing in the Tokenized Fund Space
FOBXX remains the third-largest tokenized money market fund, with BlackRock’s BUIDL and Ondo’s USDY leading the space. Franklin Templeton’s adoption of Ethereum highlights its strategic focus on blockchain diversification to enhance accessibility and adoption for institutional investors.
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