• Crypto trader to trade for strategies using “the largest, most liquid listed and tradable crypto assets,” according to Sept. 1 job posting
  • Research analyst will keep portfolio managers and senior executives informed of various protocol regulatory, staking and business opportunities

Franklin Templeton is seeking to hire a cryptocurrency trader and research analyst as it builds out a new investment unit focused on the space. 

The San Mateo, California-based fund group managed $1.56 trillion in assets, as of the end of July. The company, which acquired competing asset manager Legg Mason last year, becomes the latest traditional financial services titan looking to dabble in the crypto space.

Franklin is looking for a cryptocurrency trader to execute trades for strategies using “the largest, most liquid listed and tradable crypto assets,” such as bitcoin and Ether, according to a Sept. 1 job post. 

“The quantitative trader will also bring a process automation mindset to build or work with developers to construct tools to support the platform’s growth,” the listing states. “The trader will add insight and develop quantitative trading strategies.”

The firm is also seeking to hire a crypto research analyst, according to a separate listing published on the same day. 

“This person will develop and maintain valuation models and keep portfolio managers and senior executives informed of various protocol regulatory, staking and business opportunities,” the post states. “The analyst will be expected to help develop and manage new products in the crypto asset space.” 

The trader will join Franklin Templeton’s digital asset management team, while the research analyst would be added to a crypto asset management unit, the job postings indicate. It is unclear if these are two separate divisions.

A spokesperson for Franklin Templeton did not immediately respond to Blockworks’ request for comment.

Anthony Hardy, a research analyst for Franklin Templeton’s equity group, wrote in a March blog post that a search for inflation hedges and returns in a low interest rate environment were among the factors driving the runup of bitcoin’s price. The rise of decentralized finance and institutional adoption also contributed, he added.

Hardy wrote at the time that the birth of a new financial and internet ecosystem can co-exist with the current one, noting that these trends are likely to play out over the course of many years. 

“My view is that crypto is here to stay,” he said. “There will undoubtedly be future bull and bear markets, but in my view, the technological feat of solving for digital scarcity and the innovations currently happening in the space cannot be forgotten.”

The job postings come as fellow large financial companies have entered the crypto space. 

Goldman Sachs revealed in May that it would offer bitcoin derivatives to clients as well as opening a dedicated trading desk for cryptocurrency. 

In June, custody bank State Street, which oversees $40 trillion in assets, launched a new division focused on the shift to digital finance, and Bank of America announced about a month later that it was set to begin research coverage of cryptocurrency and digital assets.

  • Ben Strack is a Denver-based reporter covering macro economics, financial services and digital asset management. Prior to joining Blockworks, he covered the asset management industry for Fund Intelligence, and was a reporter and editor for various local newspapers on Long Island. He graduated from the University of Maryland with a degree in journalism.