The SEC issued a no-action letter on August 12, 2026, allowing Franklin Templeton’s managed funds to invest in the Franklin OnChain U.S. Government Money Fund, known by its ticker FOBXX. This decision removes investment restrictions that previously prevented other Franklin-managed funds from allocating capital to FOBXX. Launched in April 2021, FOBXX is the first U.S.-registered mutual fund to use a public blockchain for transaction processing and ownership recordkeeping. With over 360 million dollars in assets under management as of March 31, 2024, the fund represents each share as a BENJI token across multiple blockchain networks including Stellar, Arbitrum, Solana, Base, Polygon, Avalanche, and Ethereum. This authorization enables regulated funds to embed exposure to blockchain-native money market infrastructure within familiar fund structures, significantly reducing barriers to institutional adoption.
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