Franklin Templeton’s BENJI Balance on Arbitrum Reaches $56.10 Million

Franklin Templeton’s Franklin OnChain U.S. Government Money Fund (FOBXX) had $56.10 million in measured value on Arbitrum on Oct. 24, ranking second among eight measured tokenized Treasury instruments on the network.

The Oct. 16 Arbitrum balance was estimated at about $48.2 million. That estimate applies BENJI’s rounded 7.1% share to $679.12 million in measured outstanding supply across networks, so it is not an exact balance.

A separate Oct. 21 snapshot counted 48.07 million BENJI tokens on Arbitrum at a $1.00 net asset value. The snapshots cover different dates and use different data providers, so they do not establish when the balance changed.

FOBXX became available on Arbitrum in August 2024. Institutional investors can access the fund on the network through Benji, with a $1,000 minimum initial investment. Each BENJI token represents one share of FOBXX.

At least 99.5% of FOBXX’s assets must be invested in government securities, cash, or repurchase agreements backed entirely by government securities or cash. Its blockchain system is permissioned: wallets must be approved, and the transfer agent maintains the official share ownership record.

Arbitrum’s eight measured tokenized Treasury instruments totaled $273.31 million on Oct. 24. BENJI ranked behind Spiko’s EUTBL, which had $161.24 million.

The measurements show the value of BENJI on Arbitrum, but do not identify what drove the increase. They do not distinguish new subscriptions from transfers between approved networks.