According to Bloomberg, Franklin Templeton announced a collaboration with Ondo Finance to launch tokenized ETF products, enabling 24-hour trading through crypto wallets without the need for brokerage accounts; the relevant products cover US equities, fixed income, and gold assets, with initial rollout in Europe, Asia-Pacific, Middle East, and Latin American markets, while US 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 yield rights rather than underlying assets, and the tokens usable for collateral and DeFi applications; Franklin Templeton manages approximately $1.7 trillion in assets under management, while Ondo currently has approximately $2.7 billion in tokenized assets.