SEC Staff Grants No-action Relief For Custody Of Digital Assets (Limited To Specific Fund Shares) Under The Investment Company Act

On August 12, 2026, the Securities and Exchange Commission’s (SEC) Division of Investment Management issued a no-action letter permitting U.S. registered funds in the Franklin Templeton fund family to hold specific digital assets—the tokenized shares of a specific blockchain-integrated government money market fund—in custody with an affiliated transfer agent.... By: A&O Shearman