According to Bloomberg, Franklin Templeton announced a partnership with Ondo Finance to launch tokenized ETF products supporting 24-hour trading through crypto wallets without requiring brokerage accounts; related products cover U.S. equities, fixed income, and gold assets, with initial rollout in Europe, Asia-Pacific, Middle East, and Latin American markets, while U.S. market launch depends on regulatory clarity; the structure has Ondo hold ETF shares through a special purpose vehicle (SPV) and issue tokens, with investors holding yield rights rather than underlying assets, and the tokens can be used 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.