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    How Scrypt’s On-Chain Treasury Move With BENJI Has Changed Franklin Resources’ (BEN) Investment Story

    Simply Wall St·07/02/2026 03:52:49
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    • In June 2026, Scrypt Swiss AG announced it had integrated Franklin Templeton’s BENJI tokenized share of the Franklin OnChain U.S. Government Money Fund to manage its own treasury, giving the firm 24/7, on-chain access to a yield-bearing money market vehicle issued by a major global asset manager.
    • This move showcases a regulated Swiss digital asset infrastructure provider using tokenized cash for internal liquidity, underscoring Franklin Templeton’s role in connecting traditional fund structures with always-on crypto market operations.
    • Next, we’ll examine how Scrypt Swiss AG’s use of BENJI for always-on treasury liquidity may influence Franklin Resources’ investment narrative.

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    Franklin Resources Investment Narrative Recap

    The core belief behind owning Franklin Resources is that its global scale and push into alternatives, retirement solutions, and tokenized products can offset fee pressure and flows volatility. The Scrypt Swiss AG integration reinforces Franklin’s blockchain credentials, but by itself does not materially change the near term tension between fee compression and the uncertain economic payoff from digital initiatives, which remains a key risk to the story right now.

    Among recent developments, the June 2026 MoonPay partnership looks most connected to the Scrypt news, as both center on extending access to the BENJI on-chain money fund. Together, they illustrate how Franklin is trying to turn its tokenization work into real-world usage, a potential catalyst if these connections eventually support new distribution channels and higher margin digital revenue over time.

    Yet, against this excitement about BENJI and tokenization, investors should be aware of the unresolved question of when, or if, these innovations will meaningfully offset...

    Read the full narrative on Franklin Resources (it's free!)

    Franklin Resources’ narrative projects $8.7 billion revenue and $1.1 billion earnings by 2029. This implies relatively flat yearly revenue growth and an earnings increase of about $537 million from $562.8 million today.

    Uncover how Franklin Resources' forecasts yield a $27.36 fair value, a 20% downside to its current price.

    Exploring Other Perspectives

    BEN 1-Year Stock Price Chart
    BEN 1-Year Stock Price Chart

    While consensus focuses on fee pressure and unclear tokenization payoffs, the most optimistic analysts see on-chain deals like Scrypt as reinforcing a far rosier path, with earlier forecasts of revenue reaching about US$9.3 billion and earnings near US$1.2 billion by 2029, reminding you that expectations differ widely and could shift again as this story develops.

    Explore 5 other fair value estimates on Franklin Resources - why the stock might be worth 30% less than the current price!

    The Verdict Is Yours

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    This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.