$ 1.5 trillion asset manager Franklin Templeton dares to venture into Bitcoin (BTC), Ether (ETH) trades
Mutual fund giant Franklin Templeton is the latest to keep an eye on the burgeoning crypto industry.
Franklin Templeton discontinues crypto
Franklin Templeton, the $ 1.5 trillion wealth manager, recently shared several job postings suggesting the mutual fund company may be headed into the digital asset space.
The string of job postings suggests Franklin Templeton is setting up staff to execute trades on the two leading cryptocurrencies Bitcoin (BTC) and Ether (ETH).
The mutual fund firm posted two vacancies earlier this week, one for a trader and the other for a researcher. According to the description, the hired people would join the “growing” Investment team within Franklin Templeton’s Digital Assets Management department.
One of the job descriptions is:
“We are looking for a cryptocurrency [sic] Trader who executes trades for multiple strategies using the largest, most liquid listed and tradable crypto assets (e.g. BTC, ETH, etc.). “
If you look at the recent job postings, it would be Franklin Templeton’s first foray into the digital asset landscape, further solidifying the crypto-asset narrative as a new and emerging class of investable assets.
The vacancies show that the roles are tasked with executing crypto strategies, building relationships with blockchain developer communities, and promoting new crypto products for the company.
That being said, it is not yet clear whether Franklin Templeton’s crypto employments are directly involved in the coin trade. The prospect should ideally have experience in derivatives and futures markets, which could indicate the company’s interest in trading regulated bitcoin and ether contracts.
It must be remembered that this is not Franklin Templeton’s first interaction with the thriving crypto industry.
As previously reported by BTCManager, the mutual fund giant had announced that it would operate a government bond fund to record ownership of fund shares on the Stellar blockchain.
Institutions are doubling crypto
In addition to Franklin Templeton, various other financial institutions are turning to the crypto economy.
BTCManager reported earlier this year how the world’s largest asset manager BlackRock is considering investing in BTC futures contracts through two of its regulated funds.
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