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#FranklinTempleton Eyes Diversified Crypto ETFs After $XRP Launch

Franklin Templeton's Head of Digital Assets Roger Bayston is looking to offer clients packaged investments that contain an entire portfolio of cryptocurrencies. A year from now, diversification could be what garners major interest, Bayston told The Block.

Single asset ETFs are “super interesting” with “a lot of community enthusiasm,” Bayston said, adding, “There’s going to be a bunch of #ETF availability and diversified portfolios.” On the first day of trading, Grayscale and Franklin Templeton's new spot $XRP ETFs each attracted over $60 million in inflows.

Since the success of $BTC and $ETH-based ETFs, financial institutions have been eager to launch #altcoin-based funds that track popular tokens like $XRP, $SOL and $DOGE. Bayston seemed enthusiastic about the next phase that Franklin Templeton can offer its wide array of clients, which includes investment advisors and wealth managers.

The executive pointed to Franklin Templeton's EZPZ fund, which holds both $BTC and $ETH, as an example of a diversified ETF. The firm's strategy has not just been in single asset ETFs, but in diversified exposure, Bayston added.