Franklin Templeton, an investment management giant with over $1.3 trillion in assets under management, is set to start offering two digital asset separately managed account (SMA) strategies through Eaglebrook Advisors.

UK Economic Secretary to the Treasury Richard Fuller has said the country wants to “become the country of choice for those looking to create, innovate and build in the crypto space.” Per Fuller, the government wants the UK to be the “dominant global hub for crypto technologies.”

Federal Reserve Board Chair Jerome Powell has said that stablecoins should be “appropriately regulated” to play a role in the financial system, as there “isn’t a regulatory framework that really gets after payment stablecoins.”

Top stories in the Crypto Roundup today:

• Franklin Templeton To Offer Institutions Digital Asset Strategies
• Treasury Official Commits to Make Country a Crypto Hub
• Federal Reserve Board Chair Calls for Stablecoin Legislation
• Crypto Market Movers – POLY, GLM, OKB

Franklin Templeton To Offer Institutions Digital Asset Strategies

Franklin Templeton, an investment management giant with over $1.3 trillion in assets under management, is set to start offering two digital asset separately managed account (SMA) strategies through Eaglebrook Advisors.

One of the strategies, the Franklin Templeton Digital Assets Core strategy will be market-cap weighted and will invest in 10 to 15 of the largest digital assets. The portfolio is weighted with Bitcoin at 69.25% and Ether at 26.15%. Next is Solana’s SOL at 1.65%, meaning all other tokens are weighted at less than 1%.

The other strategy, the Franklin Templeton Digital Assets Core Capped, will have similar holdings, but will cap BTC and ETH at 25% of the portfolio. As of June 30, the strategy’s portfolio had Solana making up 9.83% of its holdings and Polygon’s MATIC making up 5.74%.

Treasury Official Commits to Make Country a Crypto Hub

UK Economic Secretary to the Treasury Richard Fuller has said the country wants to “become the country of choice for those looking to create, innovate and build in the crypto space.” Per Fuller, the government wants the UK to be the “dominant global hub for crypto technologies.”

In a parliamentary debate on crypto asset regulation, Fuller favored the “powerful” use cases for cryptocurrency and blockchain technology, including its use for customs and international trade, as well as for storing medical records.

Fuller added:

“By making this country a hospitable place for crypto technologies, we can attract investment, generate new jobs, benefit from tax revenues, create a wave of groundbreaking new products and services, and bridge the current position of UK financial services into a new era.”

Alexander Stafford, the parliamentary private secretary to newly elected Prime Minister Liz Truss, said during the debate that Truss “reaffirmed” her commitment to providing internet connectivity for UK residents, which would bolster access to buying, selling, and mining crypto.

Federal Reserve Board Chair Calls for Stablecoin Legislation

Federal Reserve Board Chair Jerome Powell has said that stablecoins should be “appropriately regulated” to play a role in the financial system, as there “isn’t a regulatory framework that really gets after payment stablecoins.”

Powell’s comments came during a livestreamed appearance at a Cato Institute conference, during which Cato President and CEO Peter Goettler interviewed the Fed chair. During the interview, Powell noted the regulator doesn’t “want to stand in the way of appropriate innovation.”

He added, however, that the Federal Reserve believes that “something like that which is purporting to be money would need to be appropriately regulated.” To Powell, stablecoins should provide consumers with clarity, transparency, and “full reserves of very liquid high-quality assets.”

Crypto Market Movers – POLY, GLM, OKB

Several tokens are leading the charge in the last 7-day period. Some of these are well-known cryptocurrencies with more liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.

Polymath Network (POLY) - The Polymath Network is a blockchain-based system to coordinate and incentivize participants to collaborate and launch financial products on the blockchain. The Polymath team aims to create a standard token protocol which embeds defined requirements into the tokens themselves to ease the primary issuance and secondary trading of blockchain securities tokens.

Golem Network Token (GLM) - The Golem Network is a decentralized computation network. Using Golem users can buy or sell computational power from other users in a peer to peer environment. Golem is built using Ethereum smart contracts as a transaction system for nano-payments within the network. Golem Network Tokens (GNT) will serve as a secure medium for all transactions within the Golem Network.

OKX (OKB) - OKB token is the native OKX exchange token and a utility token used to settle trading fees, participate in token-listing polls, deposits of verified merchants and rewards. It allows users to Save up to 40% on trading fees, Get passive income with OKX Earn, Participate in Jumpstart token sales of crypto projects.

State of the Crypto by Top Tier Exchange Volume

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