Mantle Lists Franklin Templeton’s $1.98B ETF as Tokenized Asset on Ethereum L2

Event summary

  • Mantle lists USPXx, the tokenized version of Franklin Templeton’s $1.98B USPX ETF, on its Ethereum L2 network.
  • USPXx is now available for 24/7 trading and liquidity provision via Fluxion, Mantle’s native decentralized exchange.
  • This marks one of the first instances of a major asset manager’s ETF being brought on-chain by an Ethereum L2.
  • USPX tracks the top 85% of the US equity market by market capitalization.

The big picture

Mantle’s move to list a tokenized version of Franklin Templeton’s USPX ETF underscores the growing convergence between traditional finance and decentralized infrastructure. This development could accelerate the adoption of tokenized assets, particularly among institutional investors seeking continuous access to major equity indices without traditional market constraints. The integration of xStocks’ Atomic RFQ system further sets a precedent for execution precision in on-chain trading.

What we're watching

Institutional Adoption
How the listing of USPXx will influence other institutional players to tokenize traditional financial products.
Regulatory Scrutiny
Whether regulators will increase oversight on tokenized ETFs and their trading mechanisms.
Market Liquidity
The pace at which liquidity for USPXx grows, especially given its 24/7 availability compared to traditional markets.