The Franklin Templeton XRP Ledger fund grew after two subscriptions added about $150 million in tokenized shares, according to CoinDesk on October 24, 2026. The network now holds nearly 193 million sgBENJI shares, worth about $200 million at the reported price. All of these shares sit in one wallet. The public records do not show if that wallet belongs to one investor or holds shares for many clients.
What the Ledger Records Show
CoinDesk reviewed two subscription receipts. Each recorded a $75 million cash subscription. Two later token transfers matched those receipts. At the reported share price of $1.039, the balance rose from about 48 million shares to nearly 193 million.
sgBENJI represents shares in Franklin OnChain U.S. Dollar Short-Term Money Market Fund. The fund invests in short-term dollar debt and money-market assets. These include government securities, commercial paper and bank deposits. The token represents a fund share; it is not the same as a free-floating cryptocurrency.
One Wallet Does Not Prove One Owner
CoinDesk found that the wallet and Franklin’s issuing account use the same set of authorized signing addresses. But the report did not identify the investors behind the subscriptions. Franklin had not answered the publication’s questions by the time its report appeared.
One wallet can hold assets for many customers. A custodian may keep the blockchain tokens in one place while tracking each client’s ownership in separate records. Franklin’s fund documents describe records that connect blockchain entries with real-world identities. Until the issuer confirms the details, the wallet should not be described as proof that one person owns all the shares.
Tokenized Funds Still Have Rules
Tokenization does not always mean that anyone can hold or transfer an asset without approval. CoinDesk reported that Franklin must approve holders of sgBENJI on the XRP Ledger. The issuer can also freeze or recover balances. These controls form part of the fund’s operating and compliance model.
Investors should read the fund documents and check who may buy, hold, transfer and redeem the shares. They should also understand custody and eligibility rules. A tokenized fund share is a legal interest in a fund, not simply a token with a market price.
What to Watch Next
The next questions are whether Franklin confirms the wallet is used for several clients, who funded the subscriptions, and whether more investors will receive shares on the network. The reported growth shows more sgBENJI activity on XRP Ledger. It does not show the fund’s full assets across every network or prove broad retail adoption.
GlobalCrypto has also covered tokenized securities in our report on BNB Chain passing $1 billion in tokenized stocks and ETFs. Tokenized money-market fund shares and tokenized stock exposure are different products and carry different risks.
Sources: CoinDesk, October 24, 2026; The Block, October 22, 2026.
