Franklin Templeton has expanded its OnChain U.S. Authorities Cash Market Fund (FOBXX) to the Ethereum blockchain, the second-largest by market capitalization.
This provides Ethereum to the rising checklist of blockchains that help the fund, which already consists of Avalanche, Aptos, and Coinbase’s Base. Ethereum now marks the most important blockchain for FOBXX, following its deployment on networks like Arbitrum and Polygon.
FOBXX was launched in 2021 and was the primary cash market fund to use a public blockchain for monitoring transactions and possession. The fund has a present market cap of $410 million, making it the third-largest tokenized cash market fund. It primarily invests in U.S. authorities securities, money, and repurchase agreements, collateralized by U.S. authorities securities or money.
In accordance to latest information from rwa.xyz, tokenized Treasurys have seen a virtually 2% enhance previously week. The whole property beneath administration (AUM) in tokenized authorities securities now stand at $2.329 billion based on data from Dune.
Furthermore, Franklin Templeton’s FOBXX holds a 17.6% market share throughout Ethereum, Arbitrum, Avalanche, Polygon, and Stellar. BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) at the moment leads the sector with $513.47 million in AUM and a 22% market share.
Ethereum stays the best choice for tokenized treasury issuances, dealing with over $1.6 billion in property. In accordance to rwa.xyz, Stellar, and Solana observe Ethereum in tokenized authorities securities issuance.
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