Franklin Templeton's OnChain U.S. Government Money Market Fund can now be traded on Ethereum. This fund has previously been made available on other blockchains such as Base, Aptos, and Avalanche, indicating its expanding reach in the tokenized asset space. Ethereum remains a leading platform with a market cap of $1.6 billion for these assets.

Further developments in this area saw the fund, launched in 2021, become the first to utilize a public blockchain for transaction tracking. At present, the fund is valued at $410 million, securing its position as the third largest of its kind. In comparison, BlackRock’s fund leads with $545 million in assets, closely followed by Ondo’s offering at $452 million.

In a report, Grayscale indicated Ethereum's solid footing in terms of decentralization and neutrality, making it a prime candidate for tokenization processes.