← Franklin Resources overview

Franklin Resources vs T. Rowe Price: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

Franklin Resources Inc (BEN)

Q3 2026
▲2▼2

Franklin's record earnings and crypto wins offset by AUM dip and new debt

  • Record earnings and inflows Franklin reported higher revenue, net income, and EPS, with record assets under management of $1.8 trillion and $18.4 billion in long-term net inflows. The stock jumped 7.3% on the earnings news and rose 42% year to date.

    This is the main positive force behind the stock's rise during the quarter.

  • Crypto and blockchain regulatory wins Franklin won an SEC no-action letter for its blockchain-based BENJI money market fund and got clearance to place tokenized assets inside traditional ETFs and mutual funds. It also expanded crypto via the 250 Digital acquisition, Franklin Crypto, and a Bybit partnership.

    These regulatory and business expansions open new growth areas and support the stock.

  • September AUM decline Assets under management fell 1.9% in September to $1.79 trillion amid market volatility, which weighed on the stock. This shows that market swings can quickly erode asset levels and fee income.

    This is a key negative development that pressured the stock during the quarter.

  • New debt adds interest costs Franklin took on $750 million in new debt, which added interest costs and weighed on the stock. Higher borrowing expenses can reduce future profits and limit financial flexibility.

    This is a negative factor that partially offset the positive earnings and crypto news.

September 2026
▲3▼1

Franklin's record inflows and crypto push offset by September AUM dip

  • Record AUM and strong inflows Franklin reported record assets under management of $1.8 trillion and $18.4 billion of long-term net inflows for the June quarter, with earnings beating estimates. More money under management means more fee income, which supports the stock price.

    This is the core fundamental driver of the period, showing the business is growing and beating expectations.

  • Digital asset expansion gains traction Franklin completed its acquisition of 250 Digital, launched Franklin Crypto, and partnered with Bybit to use its tokenized money market fund as collateral. These moves open new revenue streams and keep Franklin at the forefront of crypto finance, which investors view favorably.

    This is a major new strategic push that differentiates Franklin and has driven positive sentiment.

  • Active ETF and alternatives growth Active ETFs now capture 42% of ETF inflows, and Franklin's pivot to ETFs has helped its stock rise 42% year to date. Its alternatives business also grew to over $300 billion, with new private market offerings in Canada. These higher-fee products boost profitability.

    Shows Franklin is successfully shifting to faster-growing, higher-margin products.

  • September AUM decline and debt issuance Preliminary September AUM fell 1.9% to $1.79 trillion as market volatility hurt asset values, and the company priced $750 million in new debt to repay borrowings. Lower assets mean less fee revenue, and new debt adds interest costs, both weighing on the stock.

    This is the main negative development, showing a setback after strong summer inflows.

Latest
▲3▼1

Franklin's record inflows and crypto push offset by September AUM dip

  • Record AUM and strong inflows Franklin reported record assets under management of $1.8 trillion and $18.4 billion of long-term net inflows for the June quarter, with earnings beating estimates. More money under management means more fee income, which supports the stock price.

    This is the core fundamental driver of the period, showing the business is growing and beating expectations.

  • Digital asset expansion gains traction Franklin completed its acquisition of 250 Digital, launched Franklin Crypto, and partnered with Bybit to use its tokenized money market fund as collateral. These moves open new revenue streams and keep Franklin at the forefront of crypto finance, which investors view favorably.

    This is a major new strategic push that differentiates Franklin and has driven positive sentiment.

  • Active ETF and alternatives growth Active ETFs now capture 42% of ETF inflows, and Franklin's pivot to ETFs has helped its stock rise 42% year to date. Its alternatives business also grew to over $300 billion, with new private market offerings in Canada. These higher-fee products boost profitability.

    Shows Franklin is successfully shifting to faster-growing, higher-margin products.

  • September AUM decline and debt issuance Preliminary September AUM fell 1.9% to $1.79 trillion as market volatility hurt asset values, and the company priced $750 million in new debt to repay borrowings. Lower assets mean less fee revenue, and new debt adds interest costs, both weighing on the stock.

    This is the main negative development, showing a setback after strong summer inflows.

August 2026
▲4

Franklin Templeton's blockchain push gains regulatory wins and strong Q3

  • Strong Q3 earnings and strategic moves Franklin Resources reported higher revenue, net income and EPS for Q3 2026, along with a new $1.5 billion credit facility, share repurchases, and a rebrand to Franklin Templeton. The stock jumped 7.3% on the news, signaling financial strength and growth plans.

    This is the most direct and immediate positive driver for BEN's stock price this period.

  • SEC no-action letter for on-chain money market fund The SEC issued a no-action letter allowing registered funds to invest in Franklin's blockchain-based money market fund (BENJI) for cash management. This makes it easier for mutual funds and ETFs to use the fund, potentially boosting assets under management and fee income.

    This regulatory green light directly enables wider adoption of Franklin's crypto product, a key growth area.

  • Tokenized assets to be used inside traditional funds Franklin Templeton received what it says is the first US regulatory clearance to put tokenized assets inside conventional ETFs and mutual funds, expected to start in Q4. This could optimize liquidity and yield for its $790 billion mutual fund and $82 billion ETF business.

    This is a new milestone that expands Franklin's blockchain strategy into its core fund offerings, potentially driving future growth.

  • Franklin Templeton backs CLARITY Act for crypto regulation Franklin Templeton publicly endorsed the CLARITY Act, a bill to clarify crypto regulation, joining BlackRock, Fidelity, and others. If passed, it could create a favorable framework for digital assets, benefiting Franklin's blockchain initiatives.

    This shows Franklin's proactive stance on crypto regulation, which could reduce uncertainty and support its digital asset products.

▲4

Franklin Templeton's blockchain push gains regulatory wins and strong Q3

  • Strong Q3 earnings and strategic moves Franklin Resources reported higher revenue, net income and EPS for Q3 2026, along with a new $1.5 billion credit facility, share repurchases, and a rebrand to Franklin Templeton. The stock jumped 7.3% on the news, signaling financial strength and growth plans.

    This is the most direct and immediate positive driver for BEN's stock price this period.

  • SEC no-action letter for on-chain money market fund The SEC issued a no-action letter allowing registered funds to invest in Franklin's blockchain-based money market fund (BENJI) for cash management. This makes it easier for mutual funds and ETFs to use the fund, potentially boosting assets under management and fee income.

    This regulatory green light directly enables wider adoption of Franklin's crypto product, a key growth area.

  • Tokenized assets to be used inside traditional funds Franklin Templeton received what it says is the first US regulatory clearance to put tokenized assets inside conventional ETFs and mutual funds, expected to start in Q4. This could optimize liquidity and yield for its $790 billion mutual fund and $82 billion ETF business.

    This is a new milestone that expands Franklin's blockchain strategy into its core fund offerings, potentially driving future growth.

  • Franklin Templeton backs CLARITY Act for crypto regulation Franklin Templeton publicly endorsed the CLARITY Act, a bill to clarify crypto regulation, joining BlackRock, Fidelity, and others. If passed, it could create a favorable framework for digital assets, benefiting Franklin's blockchain initiatives.

    This shows Franklin's proactive stance on crypto regulation, which could reduce uncertainty and support its digital asset products.

Q2 2026
▲3▼1

Franklin's crypto push and private-market deals drive gains, but geopolitics weighs

  • Crypto expansion via 250 Digital acquisition and new division Franklin closed its acquisition of 250 Digital and launched a dedicated crypto division, deepening its move into digital assets. This opens a new growth area and signals innovation, which can attract investors and support the stock price.

    This is a major strategic move that directly expands Franklin's business into a high-growth area.

  • First bitcoin dividend ETFs filed Franklin filed for the first bitcoin dividend ETFs, which will use stock dividends to buy bitcoin. This product innovation could draw new assets and fee revenue, boosting demand for Franklin's offerings and supporting its stock.

    It shows Franklin is at the forefront of crypto product innovation, potentially driving future revenue.

  • Morningstar public/private model portfolios partnership Franklin is providing both public and private market strategies for new Morningstar model portfolios. This partnership expands distribution of Franklin's funds, likely increasing assets under management and fee income, which is positive for the stock.

    It represents a new distribution channel that can drive asset growth and revenue.

  • Geopolitical risk-off from Iran ceasefire collapse The collapse of the Iran ceasefire triggered a broad market sell-off, and Franklin shares fell 2.5% as investors avoided financial stocks. Higher volatility and credit fears can reduce asset values and client activity, pressuring earnings and the stock price.

    It is a fresh negative event that directly impacted Franklin's stock and highlights ongoing geopolitical risks.

June 2026
▲3▼1

Franklin's crypto push and private-market deals drive gains, but geopolitics weighs

  • Crypto expansion via 250 Digital acquisition and new division Franklin closed its acquisition of 250 Digital and launched a dedicated crypto division, deepening its move into digital assets. This opens a new growth area and signals innovation, which can attract investors and support the stock price.

    This is a major strategic move that directly expands Franklin's business into a high-growth area.

  • First bitcoin dividend ETFs filed Franklin filed for the first bitcoin dividend ETFs, which will use stock dividends to buy bitcoin. This product innovation could draw new assets and fee revenue, boosting demand for Franklin's offerings and supporting its stock.

    It shows Franklin is at the forefront of crypto product innovation, potentially driving future revenue.

  • Morningstar public/private model portfolios partnership Franklin is providing both public and private market strategies for new Morningstar model portfolios. This partnership expands distribution of Franklin's funds, likely increasing assets under management and fee income, which is positive for the stock.

    It represents a new distribution channel that can drive asset growth and revenue.

  • Geopolitical risk-off from Iran ceasefire collapse The collapse of the Iran ceasefire triggered a broad market sell-off, and Franklin shares fell 2.5% as investors avoided financial stocks. Higher volatility and credit fears can reduce asset values and client activity, pressuring earnings and the stock price.

    It is a fresh negative event that directly impacted Franklin's stock and highlights ongoing geopolitical risks.

▲3▼1

Franklin's crypto push and private-market deals drive gains, but geopolitics weighs

  • Crypto expansion via 250 Digital acquisition and new division Franklin closed its acquisition of 250 Digital and launched a dedicated crypto division, deepening its move into digital assets. This opens a new growth area and signals innovation, which can attract investors and support the stock price.

    This is a major strategic move that directly expands Franklin's business into a high-growth area.

  • First bitcoin dividend ETFs filed Franklin filed for the first bitcoin dividend ETFs, which will use stock dividends to buy bitcoin. This product innovation could draw new assets and fee revenue, boosting demand for Franklin's offerings and supporting its stock.

    It shows Franklin is at the forefront of crypto product innovation, potentially driving future revenue.

  • Morningstar public/private model portfolios partnership Franklin is providing both public and private market strategies for new Morningstar model portfolios. This partnership expands distribution of Franklin's funds, likely increasing assets under management and fee income, which is positive for the stock.

    It represents a new distribution channel that can drive asset growth and revenue.

  • Geopolitical risk-off from Iran ceasefire collapse The collapse of the Iran ceasefire triggered a broad market sell-off, and Franklin shares fell 2.5% as investors avoided financial stocks. Higher volatility and credit fears can reduce asset values and client activity, pressuring earnings and the stock price.

    It is a fresh negative event that directly impacted Franklin's stock and highlights ongoing geopolitical risks.

T. Rowe Price Group Inc (TROW)

Q3 2026
▲2

T. Rowe Price expands into crypto and private markets with new funds

  • Crypto ETF launch T. Rowe Price launched its first actively managed multi-token crypto ETF (TKNZ) on NYSE Arca, holding Bitcoin, Ethereum, and others. This opens a new fee stream and attracts fresh investor money, pushing TROW's price up as it shows innovation beyond traditional funds.

    This is a new product launch that directly expands TROW's offerings and potential revenue.

  • Private markets interval fund T. Rowe Price partnered with Goldman Sachs to launch a private markets interval fund for retail investors, with a low minimum. This broadens TROW's reach into alternative investments and taps new client segments, supporting future fee growth and a higher stock price.

    This is a new partnership and product that expands TROW's addressable market.

July 2026
▲2

T. Rowe Price expands into crypto and private markets with new funds

  • Crypto ETF launch T. Rowe Price launched its first actively managed multi-token crypto ETF (TKNZ) on NYSE Arca, holding Bitcoin, Ethereum, and others. This opens a new fee stream and attracts fresh investor money, pushing TROW's price up as it shows innovation beyond traditional funds.

    This is a new product launch that directly expands TROW's offerings and potential revenue.

  • Private markets interval fund T. Rowe Price partnered with Goldman Sachs to launch a private markets interval fund for retail investors, with a low minimum. This broadens TROW's reach into alternative investments and taps new client segments, supporting future fee growth and a higher stock price.

    This is a new partnership and product that expands TROW's addressable market.

Latest
▲2

T. Rowe Price expands into crypto and private markets with new funds

  • Crypto ETF launch T. Rowe Price launched its first actively managed multi-token crypto ETF (TKNZ) on NYSE Arca, holding Bitcoin, Ethereum, and others. This opens a new fee stream and attracts fresh investor money, pushing TROW's price up as it shows innovation beyond traditional funds.

    This is a new product launch that directly expands TROW's offerings and potential revenue.

  • Private markets interval fund T. Rowe Price partnered with Goldman Sachs to launch a private markets interval fund for retail investors, with a low minimum. This broadens TROW's reach into alternative investments and taps new client segments, supporting future fee growth and a higher stock price.

    This is a new partnership and product that expands TROW's addressable market.