Franklin Templeton

What Franklin Templeton does

Franklin Templeton is a global asset management firm operating through its publicly traded parent Franklin Resources Inc. (NYSE: BEN). Founded in 1947 and headquartered in San Mateo, California, the firm manages approximately $1.78 trillion in assets across more than 35 countries, serving institutional investors (pensions, sovereign wealth funds), financial advisors, and individual clients through a diversified product lineup spanning mutual funds, ETFs, separately managed accounts, private credit (Benefit Street Partners), and digital asset products. The firm has positioned itself as an early mover in blockchain-based fund operations, launching the first U.S.-registered tokenized money market fund (BENJI / Franklin OnChain U.S. Government Money Fund) on the Stellar blockchain in 2021; the tokenized asset base has grown from approximately $768 million to over $2.5 billion in roughly one year.

The core technology stack centers on the Benji Technology Platform, which connects tokenized money market fund tokens to institutional trading infrastructure for on-chain execution. BENJI is integrated with MoonPay Trade, Binance off-exchange collateral, the Stellar network, Mantle Ethereum L2, Avalanche, and Swiss-licensed treasury operators, supporting 24/7 on-chain access to yield-bearing assets. Franklin also operates spot crypto ETFs — Franklin Bitcoin ETF (EZBC, ~$359M AUM), Franklin Solana ETF (SOEL/SOEZ, 0.19% fee), Franklin XRP ETF (XRPZ, ~$406M cumulative inflows) — and has filed for two innovative Bitcoin DRIP Index ETFs. In June 2026, the firm completed the approximately $1.8 billion acquisition of 250 Digital from CoinFund and launched Franklin Crypto, a dedicated active digital asset management division led by Christopher Perkins and Seth Ginns.

The firm generates revenue primarily through asset-based management and advisory fees across equity, fixed income, ETF, and alternatives products, supplemented by platform/licensing fees from the Canvas SMA infrastructure (including the Canvas P3 partner program used by MFS, Federated Hermes, and T. Rowe Price) and digital asset management fees. Distribution spans direct institutional sales, exchange listings (Cboe BZX, NYSE Arca), and partner channels including Morningstar, MoonPay, Binance, and Ondo Finance. Headcount is reported in the 5,001–10,000 range. Material risks include the June 2026 SEC $100 million penalty against subsidiary Western Asset Management for compliance failures and fee compression in crypto ETFs.

Name

Franklin Templeton

Legal name

Franklin Templeton

Website

https://franklintempleton.com

Company type

Public

Founded year

1947

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Franklin Templeton is a $1.78 trillion global asset manager offering mutual funds, ETFs, separately managed accounts, private credit, and digital asset products to institutional, intermediary, and retail clients across 35+ countries. It operates the BENJI tokenized money market fund and Franklin Crypto digital asset division.

Ownership category

akta.pro rank

Product category

Asset Management

NAICS

Portfolio Management and Investment Advice (523940), Open-End Investment Funds (525910), Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Active Crypto Asset Managers (Discretionary) (FSADAHAA)

akta.pro secondary industries

Treasury Management & Corporate Crypto Yield Programs (FSADAHAL), Prime Brokerage (Multi-Asset Crypto) (FSADAJAA)

Keywords

• Global asset management
• Tokenized money market funds
• Crypto ETF products
• Separately managed accounts
• Institutional investment management

Headquarters

HQ city

San Mateo

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Traditional Asset Management Fees: Management and advisory fees from managing traditional investment products including equity funds, fixed income funds, and ETFs across multiple asset classes and geographies.
2. Crypto/Digital Asset Management: Fees from actively managed cryptocurrency strategies through Franklin Crypto division targeting institutional investors with liquid digital asset products.
3. Tokenized Fund Management: Platform fees from tokenized money market fund products (BENJI) offering 24/7 on-chain access to yield-bearing assets, with tokenized assets growing from $768M to $2.5B+.
4. ETF Management Fees: Expense ratios from spot crypto ETFs including Franklin Bitcoin ETF (EZBC), Franklin Solana ETF (SOEL), Franklin XRP ETF (XRPZ), and the Franklin BSP CLO ETF (YCLO).
5. Platform/Technology Licensing: Fees from Canvas P3 platform enabling third-party managers to offer tax-managed strategies through Franklin's infrastructure, with partners including MFS, Federated Hermes, and T. Rowe Price.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels5 records

Core offering

Franklin Templeton is a global asset management firm offering actively managed mutual funds, ETFs, separately managed accounts, and digital asset products to institutional and individual investors across 35+ countries. The firm manages $1.7–1.78 trillion in assets with a differentiated suite spanning traditional strategies (equity, fixed income, CLOs) and blockchain-based tokenized products including the BENJI tokenized U.S. Government Money Fund, spot crypto ETFs, and institutional digital asset management via the Franklin Crypto division.

Product overview

Franklin Templeton is a $1.7–$1.8 trillion global asset manager operating across more than 35 countries. Its product suite spans traditional investment vehicles (mutual funds, ETFs, separately managed accounts) and digital asset offerings. On the traditional side, the firm offers municipal bond funds (FLMI), CLO ETFs (YCLO), and dividend-focused strategies. The centerpiece of its digital asset strategy is the Franklin OnChain U.S. Government Money Fund (BENJI) — a blockchain-based tokenized money market fund settled on the Stellar blockchain ledger that has grown from ~$768M to over $2.5 billion in assets. This is complemented by spot crypto ETFs: Franklin Bitcoin ETF (EZBC), Franklin XRP ETF (XRPZ), and Franklin Solana ETF (SOEZ). In June 2026, Franklin completed its acquisition of 250 Digital and launched Franklin Crypto as a dedicated active digital asset management division for institutional investors, integrating the 250 Digital team and CoinFund's liquid crypto strategies. The firm also filed for two innovative Bitcoin DRIP ETFs (pending SEC approval) that would redirect equity dividends into Bitcoin exposure, and launched a tokenized US equity index ETF (USPXx) on Mantle L2. The Canvas platform — including its Canvas P3 Preferred Partner Program — provides a separately managed account infrastructure with systematic tax overlay capabilities (tax-loss harvesting, tax-aware transitions) that third-party managers use to deliver tax-managed strategies.

Differentiator

Problem solved

Functional benefit

Brands

• Franklin Crypto: Dedicated digital asset management division focused on actively managed cryptocurrency strategies for institutional investors
• BENJI
• Franklin OnChain U.S. Government Money Fund
• Canvas
• Canvas P3 (Preferred Partner Program)

Products and services

• Franklin Crypto A dedicated institutional digital asset management division offering actively managed cryptocurrency strategies and liquid digital asset investment solutions targeting large institutional investors, pensions, and sovereign wealth funds. Integrates 250 Digital's investment team and CoinFund's liquid cryptocurrency strategies under Franklin Templeton's global distribution infrastructure.
• BENJI (Franklin OnChain U.S. Government Money Fund) Franklin Templeton's blockchain-based money market fund representing shares in the OnChain U.S. Government Money Fund settled on the Stellar blockchain ledger. BENJI tokens represent fractional shares in the fund and provide 24/7 on-chain access to yield-bearing assets. Used for institutional treasury operations and as partial consideration in the acquisition of 250 Digital.
• Canvas Platform (including Canvas P3) Franklin Templeton's separately managed account (SMA) platform providing systematic tax overlay capabilities including tax-loss harvesting, tax-aware transitions, annual tax budgets, and after-tax reporting at the individual account level. Extended through Canvas P3 to allow third-party asset managers to offer tax-managed versions of their proprietary investment strategies.
• Franklin Bitcoin ETF (EZBC) Franklin Templeton's U.S. spot Bitcoin exchange-traded fund listed on Cboe BZX Exchange, holding approximately $359 million in net assets with Coinbase as custodian. Part of Franklin's broader institutional crypto product lineup.
• Franklin XRP ETF (XRPZ) Franklin Templeton's spot XRP exchange-traded fund. Franklin's XRPZ led XRP ETF weekly inflows with $6.689 million, bringing total historical net inflow to approximately $406 million as of June 2026.
• Franklin Solana ETF (SOEZ) Franklin Templeton's spot Solana exchange-traded fund, charging a 0.19% sponsor fee. One of the primary competitors in the Solana ETF market.
• Franklin BSP CLO ETF (YCLO) Franklin Templeton's actively managed ETF targeting investment-grade collateralized loan obligation (CLO) debt tranches across U.S. and European markets. Seeks capital preservation and current income through a diversified floating-rate asset class managed by Franklin Advisers, Inc. with sub-advisory from Benefit Street Partners. Marketed as the first CLO ETF in the industry.
• Franklin Dynamic Municipal Bond ETF (FLMI) An actively managed municipal bond fund listed on NYSE Arca, offering a 3.87% distribution yield with taxable equivalent of 6.86%, 0.30% expense ratio, approximately $2.13 billion in net assets across 1,240 diversified municipal issuances with 2–8 year duration. Suitable for tax-sensitive high-net-worth individuals and retirees seeking federally tax-exempt income.
• Franklin US Equity Bitcoin DRIP Index ETF Proposed ETF filed with the SEC in June 2026 that redirects dividend income from U.S. large-cap equity portfolios into Bitcoin exposure rather than reinvesting in shares. Launches with 95% U.S. equities and 5% Bitcoin, capping Bitcoin exposure at 20%. Tracks VettaFi U.S. Large-Cap 500 Bitcoin DRIP Index. Represents the first ETF structure to systematically use a dividend stream to buy cryptocurrency.
• Franklin US Innovation Bitcoin DRIP Index ETF Companion proposed ETF to the Franklin US Equity Bitcoin DRIP Index ETF, focused on innovation stocks rather than broad large-cap equities. Same 95%/5% equity/Bitcoin structure at launch, 20% Bitcoin cap, quarterly rebalancing. Tracks a VettaFi innovation-focused index.
• Tokenized US Equity Index ETF (USPXx) A tokenized version of Franklin Templeton's U.S. equity index ETF branded USPXx by xStocks, deployed on the Mantle Ethereum Layer-2 network. Trading available on Fluxion's decentralized exchange. Part of Franklin's broader multi-platform tokenization strategy alongside BENJI money market tokens and Ondo Finance partnerships.

Quantifiable outcome

• Tokenized assets grew from approximately $768 million to more than $2.5 billion over the past year
• +3 more outcomes

Named customers5 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Stellar Development FoundationcoreTechnology or Integration · 25 June 2026Stellar network processing $5.5 billion in Q1 2026 with 72% annual increase, supported by institutional partnerships including Franklin Templeton's BENJI tokenized fund. XLM designated as first settlement token by DTCC.
• ArbitrumDAOcoreChannel Partner/ Reseller/ Distributor · 23 June 2026ArbitrumDAO approved allocating 35 million ARB tokens ($11.6 million, 35% allocation) to Franklin Templeton's tokenized U.S. treasury products through its Stable Treasury Endowment Program.
• BinancecoreChannel Partner/ Reseller/ Distributor · 23 June 2026Franklin Crypto division integrated with Binance's off-exchange collateral program, enabling institutional crypto services and expanding distribution reach for actively managed cryptocurrency strategies.
• Ondo FinancecoreTechnology or Integration · 23 June 2026Partnership with Ondo Finance for five separate tokenized ETFs and Franklin Templeton's tokenized U.S. equity index ETF branded USPXx launched on Mantle Ethereum L2 network.
• 250 Digital / CoinFund Management LLCcoreStrategic or Co-development Partner · 22 June 2026Franklin Templeton completed acquisition of 250 Digital from CoinFund Management LLC, bringing the investment team and liquid cryptocurrency strategies under the newly created Franklin Crypto division. Christopher Perkins named Head and Seth Ginns named CIO. Deal valued at $1.8 billion with partial payment in BENJI tokens.
• Morningstar WealthcoreChannel Partner/ Reseller/ Distributor · 20 June 2026Morningstar partnered with Franklin Templeton, Apollo, and J.P. Morgan Asset Management to launch Public/Private Select Series model portfolios with 12-20% private credit allocations through interval funds.
• MFS Investment Management, Federated Hermes, T. Rowe PricecoreChannel Partner/ Reseller/ Distributor · 17 June 2026Canvas P3 Preferred Partner Program enables third-party asset managers to offer tax-managed versions of their proprietary investment strategies through Franklin's platform with features including tax-loss harvesting and tax-aware transitions.
• Apollo Global Management, J.P. Morgan Asset ManagementcoreChannel Partner/ Reseller/ Distributor · 17 June 2026Morningstar Public/Private Select Series partnership combining ETFs and interval funds with private credit and real estate exposure for financial advisors.
• VettaFicoreTechnology or Integration · 17 June 2026VettaFi provides proprietary indexes for Franklin Templeton's Bitcoin DRIP Index ETFs tracking U.S. Large-Cap 500 Bitcoin DRIP Index and innovation-focused indexes.
• MoonPaycoreTechnology or Integration · 2 June 2026Strategic partnership connecting Franklin Templeton's Benji Technology Platform with MoonPay Trade's institutional trading infrastructure, enabling eligible institutions to move between stablecoins and tokenized money market funds through fully on-chain execution. MoonPay's first expansion beyond crypto, fiat, and stablecoins into tokenized finance.
• BinanceminorChannel Partner/ Reseller/ Distributor · 30 May 2026Binance enabling institutions to pledge tokenized money market funds from Franklin Templeton as collateral through its platform.

Scale indicators8 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• BlackRock: World's largest asset manager and the most direct comparable: operates the iShares ETF franchise, tokenized money market initiatives, spot Bitcoin ETF (IBIT), and institutional digital asset offerings that compete head-on with Franklin's BENJI, Franklin Crypto, and spot crypto ETFs.
• Fidelity Investments: Large diversified asset manager with a multi-decade crypto custody and trading franchise (Fidelity Digital Assets) and a spot Bitcoin ETF (FBTC); competes with Franklin across traditional funds, ETFs, and institutional crypto services.
• Invesco: Global asset manager with a comparable ETF platform including spot Bitcoin (BTCO) and other crypto-tied ETFs, plus QQQ; overlaps with Franklin's ETF franchise and competes for institutional and advisor wallet share.
• WisdomTree: Direct competitor in both spot crypto ETFs (BTCW) and tokenized real-world assets; Franklin and WisdomTree were named together as ArbitrumDAO treasury endowment issuers, making them peers in the institutional RWA tokenization race.
• Grayscale Investments: Specialist digital asset manager running spot Bitcoin (GBTC) and Ethereum ETFs after converting its trust products; competes directly with Franklin's spot crypto ETFs and Franklin Crypto for institutional crypto allocations.

Broad incumbents

• State Street: One of the world's largest asset managers and custody providers through State Street Global Advisors (SPDR ETFs); competes broadly with Franklin in traditional asset management and is investing in digital asset infrastructure that could pressure Franklin's institutional RWA position.
• Vanguard: Largest mutual fund complex by AUM and a major ETF issuer (VOO, VTI); competes with Franklin on advisor-distributed funds and ETF flows, though Vanguard has so far avoided crypto ETFs, leaving Franklin's digital asset suite differentiated in the incumbents' comparison.

Emerging players

• Bitwise Asset Management: Crypto-native asset manager running spot Bitcoin and Ethereum ETFs, private crypto funds, and index products; competes with Franklin in the institutional crypto ETF arena and would be a credible challenger to Franklin Crypto on specialist mandates.
• Galaxy Digital: Crypto-native asset manager and trading firm that runs institutional crypto investment products and an asset management business; closest emerging comparable to Franklin Crypto's institutional actively-managed strategy thesis.
• CoinShares: European-headquartered crypto asset manager with listed spot Bitcoin and Ethereum ETPs; smaller scale than Franklin but competes in the same institutional digital asset management category and represents a credible EU competitor as Franklin expands its EMEA tokenization footprint.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FTI_US
• Facebookfacebook.com/franklintempleton
• LinkedInlinkedin.com/company/franklin-templeton

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A11 records

Investments269 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Franklin Templeton