According to Bloomberg, Franklin Templeton has partnered with Ondo Finance to launch tokenized ETFs tradable 24/7 via crypto wallets without brokerage accounts; the products cover U.S. equities, fixed income, and gold, initially launching outside the U.S., with U.S. availability pending regulatory clarity; Ondo issues tokens via an SPV representing return rights, usable as collateral and in DeFi. Franklin Templeton manages about $1.7 trillion in assets, while Ondo has around $2.7 billion in tokenized assets.