Franklin Templeton received SEC staff approval to hold tokenized assets inside its conventional mutual funds and ETFs. The Franklin OnChain U.S. Government Money Fund (FOBXX) reported net assets of $720,928,224 on July 31 with a 3.50% seven-day net yield. The decision relies on a 1992 precedent and exempts the firm from certain provisions of Rule 17f-2 regarding vault custody of share certificates. Twelve conditions were attached, including annual board approval and at least three accounting verifications per fiscal year, two without prior notice.
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