Franklin Templeton has secured U.S. Securities and Exchange Commission staff relief allowing its registered mutual funds and ETFs to hold shares of its $726 million Franklin OnChain U.S. Government Money Fund, known as FOBXX and represented by BENJI tokens. The Aug. 12 no-action position under Section 17(f) of the Investment Company Act of 1940 and Rule 17f-2 eases paper-era custody requirements so conventional products can use the tokenized fund as an investment, cash-management tool, or collateral once each fund board approves. Bloomberg reported Aug. 20 that placement inside traditional products could begin as early as the fourth quarter. Franklin pairs public blockchain transaction records with its transfer-agent system, retaining private-key control and official shareholder books. Investors in the conventional funds would gain exposure without opening crypto wallets. The firm has already linked BENJI to MoonPay, Payward, and Binance for institutional cash, collateral, and rebalancing uses, and launched FOBXX on Stellar in 2021 before expanding to multiple networks.