Eaglebrook Advisors, the crypto investment platform providing RIAs with direct access to digital assets, struck a partnership with Franklin Templeton to help more advisors access bitcoin and ethereum.
The Franklin Templeton Digital Asset Dynamic BTC/ETH SMA strategy is now accessible through Eaglebrook's Digital Asset SMA Platform, promising a blend of direct ownership and strategic tax optimization for wealth managers and RIAs across the US.
It expands on a relationship Eaglebrook first forged with Franklin Templeton in 2022, with assets under the new strategy to be custodied at Anchorage Digital, which boasts the only federally regulated digital asset bank.
"Expanding our relationship with Franklin Templeton presents even more opportunities to bring exclusive digital asset investments to Eaglebrook's advisors and their clients," Chris King, the CEO of Eaglebrook said in a statement.
Eaglebrook, whose network includes more than 700 financial advisors and managed assets exceeding $225 million, is enhancing its platform to offer more than just bitcoin investments. It aims to provide varied digital asset portfolios and SMA options, focusing on automated tax optimization strategies that are particularly beneficial for high-net-worth investors.
The Franklin Templeton Digital Asset Dynamic BTC/ETH SMA is designed to outperform traditional market cap-weighted portfolios of bitcoin and ethereum through active management.
Franklin Templeton, leveraging its seven decades of investment expertise and digital asset research, provides the strategic model for the SMA on a non-discretionary basis, incorporating an automated tax overlay for advisors' use.
Tony Pecore, senior vice president and director of digital asset management at Franklin Templeton, highlighted the firm's ongoing investment in the digital assets ecosystem since 2018.
"Our newest offering, the Franklin Templeton Digital Asset Dynamic BTC/ETH strategy, capitalizes on our firm's 75 years of investment management expertise and cutting-edge digital asset research capabilities," Pecore said.
Earlier this month, Eaglebrook unveiled a partnership with Geneos Wealth Management, giving advisors with the Colorado-based RIA access to its crypto SMA capabilities.
News of that came just around the time bitcoin broke past $70,000 to a historic high, though it’s since deflated by more than 10 percent as of last week amid flagging demand for spot bitcoin ETFs.
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Pro-bitcoin professionals, however, say the cryptocurrency has ushered in change.
“LPL has evolved significantly over the last decade and still wants to scale up,” says one industry executive.
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