Ethereum

Laser-eyed Franklin Templeton focuses on Ethereum and Solana after Bitcoin

In a series of tweets on Wednesday, global investment firm Franklin Templeton weighed in on the merits of layer-1 blockchains Solana and Ethereum, leading to speculation about the investment giant’s next move. It continued.

Franklin Templeton, one of the world’s largest wealth management firms, manages more than $1.4 trillion in assets.

“We believe that as the fees and performance of blockchain improve, the potential use cases unlocked increase exponentially,” said the Franklin Templeton digital assets team. “Improving economics and experience for the end user cannot be overemphasized.”

Last week, Franklin Templeton, along with other major companies including BlackRock, VanEck, Ark Invest, and Fidelity, received approval for a spot Bitcoin ETF from the U.S. Securities and Exchange Commission.

Franklin Templeton praised the Solana blockchain, calling Solana Labs co-founder Anatoly Yakovenko’s vision of a single-atom state machine a “compelling use case.” Yes.

“At Solana, we see Anatoly’s vision of single-atom state machines as a powerful use case for decentralized blockchains that reduce information asymmetry,” they said. “And we were impressed with all the activity we saw from Solana in the fourth quarter of 2023.”

Projects driving activity on the Solana blockchain Franklin Templeton include DePIN, meme coins, NFTs, DeFi, and high-performance verification client Firedancer.

The account also expressed excitement about Ethereum and its ecosystem, highlighting the growing pains of the largest proof-of-stake blockchain.

“We are very excited about ETH and its ecosystem,” the company said. “Despite the mid-life crisis we have recently experienced, we see a bright future with many strong tailwinds to advance the Ethereum ecosystem.”

The company highlighted several factors it believes are contributing positively to the momentum of the Ethereum ecosystem, including EIP 4844, Alternative Data Availability (Alt DA) development, community activation, and re-staking.

The Franklin Templeton account went on to state that the company believes there is potential in other layer 1 blockchains in addition to Bitcoin, Ethereum, and Solana.

“Other L1s beyond BTC, ETH, and SOL have tremendous potential, and we continue to support, monitor, and develop these networks as they grow and mature,” they said.

“The lawyers will not allow us to respond to comments, but we hear from you,” the account concluded.

When asked to comment on the tweet, a Franklin Templeton spokeswoman declined to comment further.

“While we cannot comment on any potential fund offerings in the future, we are continuously monitoring developments in the digital asset and ETF ecosystem,” a spokesperson said. decryption.

Edited by Ryan Ozawa.

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