In Social Media Buzz, Investment Giant Franklin Templeton Commends Ethereum and Solana’s Advances
Based in San Mateo, the prominent investment management firm, Franklin Templeton, has been actively posting about digital assets on social media following the recent approval of its new spot bitcoin exchange-traded fund (ETF). The firm’s U.S. X account now sports a modified logo featuring Benjamin Franklin with laser eyes. This Wednesday, the account prominently recognized both Ethereum and the Solana blockchains, further expressing that it was “impressed” by the Solana network’s activity in the fourth quarter.
Franklin Templeton Applauds Crypto, Ethereum, and Solana
Since its ETF launch, Franklin Templeton, as of Jan. 17, 2024, oversees 1,160 BTC, as reported by the EZBC web portal. This marks a 2.56% increase in its bitcoin (BTC) holdings, up from 1,131 BTC last Friday. Throughout the past week, the company, managing $1.5 trillion in assets under management (AUM), has been actively posting about digital assets and sharing memes.
On Thursday, Franklin Templeton’s X account praised blockchain technology. “We believe as blockchains improve in fees and performance, the potential use cases that are unlocked grow exponentially,” the investment manager said. “Improving the economics and experience for the end user cannot be overstated.” In another X post, Franklin Templeton wrote, “Other L1s outside of [Bitcoin, Ethereum, and Solana] have massive potential, and we are continuing to support, monitor, and develop on these networks as they grow and mature.”
$1.5 trillion AUM institution out here memeing today. https://t.co/LAAUkNlZ0v
— Lyn Alden (@LynAldenContact) January 17, 2024
While it launched a BTC ETF, Franklin Templeton lauded Ethereum and Solana as well. “We are excited about ETH and its ecosystem. Despite the midlife crisis it’s recently experienced, we see a bright future with many strong tailwinds to push the Ethereum ecosystem forward,” the firm remarked on X while also mentioning some of ETH’s pros. As far as Solana, the asset manager said it was “impressed” by the layer one (L1) blockchain. The company stated:
On Solana, we see Anatoly’s vision of a single atomic state machine as a powerful use case of decentralized blockchains, lowering information asymmetry. And we are impressed by all the activity seen on Solana in Q4 2023.
Moreover, the firm’s X account expressed criticism towards private blockchains, stating, “Private blockchains are a rehypothecation of the intermediary.” Indeed, the firm’s social media presence has recently taken a slightly divergent path, actively sharing its perspectives on the digital asset ecosystem. “In crypto, speculation is a feature, not a bug,” the asset manager said in another X post. Franklin Templeton also touched upon Bitcoin’s Ordinals and layer two solutions.
“Ordinals [and] Layer 2 solutions on Bitcoin shouldn’t be ignored. These are vital to solving Bitcoin’s economic security problem and increasing BTC’s utility as a SoV,” the company’s social media account wrote. “Crypto is improving how we interact with each other financially, just as the internet did with information. We intend to participate and lead the development of this future through investing and building,” another social media post explains.
What do you think about Franklin Templeton’s X posts about blockchains, Ethereum, and Solana? Share your thoughts and opinions about this subject in the comments section below.
