Franklin Templeton has launched FLHYon, a token providing exposure to its high yield bond ETF FLHY, in collaboration with Ondo Finance on the Pendle platform. The associated Pendle market matures in 2026, with the token showing a net asset value of approximately $24.17 and a circulating supply of around 20,558 tokens as of mid-October 2026. On-chain assets totaled approximately $497,000, and Morpho began accepting FLHYon as collateral in June 2026. The Franklin Templeton-Ondo partnership, established in March 2026, encompasses the tokenization of five ETFs in total.
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