PANews reported on November 14 that according to CoinDesk, Franklin Templeton has expanded its U.S. government money market fund (FOBXX) to the Ethereum blockchain for trading. Launched in 2021, FOBXX is the first money market fund to use a public blockchain for trading and ownership tracking. Its current market value is $410 million, ranking it as the third largest tokenized money market fund. This year, the fund has added support for multiple blockchains, including Base, Aptos, and Avalanche, with Ethereum being the latest to join.

Ethereum is the blockchain of choice for issuing tokenized traditional assets, with $1.6 billion in assets under management. Franklin Templeton uses Stellar as its primary public blockchain, while BlackRock and Ondo are the top two tokenized funds by market capitalization.