In a series of tweets on Wednesday, Franklin Templeton commented on the importance of Solana and Ethereum's Layer One blockchain, prompting speculation about the giant's continued investment.
Franklin Templeton, one of the largest asset management firms in the world, manages more than $1.4 trillion in assets.
“We believe that as blockchains improve in terms of payments and performance, the potential use cases that will be opened up will grow significantly,” said Franklin Templeton's Digital Asset Group. Improving the economics and experience for the end user cannot be overlooked.
Last week, Franklin Templeton joined other major firms, including BlackRock, VanEck, Ark Invest and Fidelity, in finding their positions in Bitcoin ETFs approved by the US Securities and Exchange Commission.
Franklin Templeton expressed admiration for Solana's blockchain, while Solana Labs co-founder Anatoly Yakovenko called its vision as an atomic state machine a “powerful use case.”
“On Solana, we see Anatolian's vision of a single atomic state machine as a powerful use of decentralized blockchains and information asymmetry,” he said. “And we're impressed with all the activity at Solana in Q4 2023.”
Projects that drive the spotlight on Solana Blockchain's Franklin Templeton include DePIN, meme coins, NFTs, DeFi, and high-performance authentication client FireDancer.
The account also expressed excitement about Ethereum and its ecosystem, highlighting the growing pains of the largest proof-of-stake blockchain.
“We are very excited about ETH and its ecosystem,” the company said. “Despite the recent mid-life crisis, we see a bright future with plenty of strong tailwinds to push the Ethereum ecosystem forward.”
The organization highlighted a number of factors that it believes will contribute positively to the progress of the Ethereum ecosystem, including EIP 4844, advances in Alternative Data Delivery (Alt DA), community revitalization and reinvention.
Franklin Templeton's account goes on to say that the company believes other layer one blockchains have potential in addition to Bitcoin, Ethereum and Solana.
“Other L1s besides BTC, ETH, SOL have great potential, and we will continue to support, monitor and develop these networks as they grow and develop,” he said.
“The attorneys won't let us respond to comments, but we'll hear you,” the report concluded.
A spokesperson for Franklin Templeton declined to comment further when asked to comment on the tweets.
“We cannot comment on potential future fund offerings, but we can say that we are continuously monitoring developments in the digital assets and ETF ecosystem,” a spokesperson told Decrypt.
Edited by Ryan Ozawa.
Stay on top of crypto news, get daily updates in your inbox.
