According to Bloomberg, Franklin Templeton announced a partnership with Ondo Finance to launch tokenized ETF products, enabling 24-hour trading through crypto wallets without requiring a brokerage account; related products cover U.S. equities, fixed income, and gold assets, with initial rollout in European, Asia-Pacific, Middle East, and Latin American markets, while U.S. market launch depends on regulatory clarity; the structure involves Ondo holding ETF shares through a special purpose vehicle (SPV) and issuing tokens, with investors holding income rights rather than underlying assets, and the tokens can be used for collateral and DeFi applications; Franklin Templeton manages approximately 1.7 trillion dollars in assets under management, while Ondo currently has approximately 2.7 billion dollars in tokenized assets under management.