Franklin Templeton is exploring whether SEC exemptive relief could allow tokenized money market funds and exchange-traded funds to trade through blockchain-based platforms and liquidity pools. The asset manager brought SEC staff a proposed Oct. 9 agenda addressing its digital-assets business and the agency's innovation exemption, including whether tokenized money market fund shares could trade against tokenized National Market System stocks on a blockchain venue. It also asked whether providers supplying assets for such trades could charge service fees. The questions implicate Section 22(d) of the Investment Company Act of 1940 and Rule 22c-1, which generally require redeemable fund shares to be sold at their prospectus price and transacted at the next calculated net asset value. Franklin Templeton reported preliminary assets under management of $1.79 trillion as of Sept. 30. The discussions build on its Franklin Onchain U.S. Government Money Fund, whose BENJI tokens represent fund shares, and later institutional trading and yield-product initiatives.