Franklin Templeton's Tokenized Bond ETF Launches on Pendle for Yield Trading
Franklin Templeton's tokenized high-yield bond ETF is now tradable on Pendle, enabling yield trading through Ondo's FLHYon token.
Franklin Templeton's tokenized high-yield bond ETF is now tradable on Pendle, enabling yield trading through Ondo's FLHYon token. Ondo (ONDO) is trading at $0.4652. This is an original Token Times brief synthesising 2 outlets (The Cryptonomist, Crypto Daily), plus live market data, as of Tue, 13 Oct 2026 12:45:01 UTC.
This development marks a significant step in the tokenization of traditional financial products, offering new ways to trade ETF yields while potentially attracting institutional interest to DeFi platforms.
- Franklin Templeton's tokenized ETF is now tradable on Pendle via Ondo's FLHYon token.
- The market allows traders to trade future income from the ETF separately from the underlying asset.
- Pendle's TVL is $1.23B, while Ondo's market cap is $2.27B and Pendle's is $358.44M.
The Cryptonomist and Crypto Daily both report that Franklin Templeton's tokenized high-yield bond ETF is now tradable on Pendle through Ondo's FLHYon token, which tracks the FLHY fund. They agree that this setup allows traders to trade future income from the ETF separately from the underlying asset. However, Crypto Daily adds that Franklin Templeton and SEC staff discussed tokenized fund trading pairs, liquidity-provider fees, and pool classification on October 9, a detail not mentioned by The Cryptonomist.
- Pendle Introduces Tokenized Stocks for Nvidia and Tesla on DeFi Platform
- Franklin Templeton's Tokenized Bond ETF Launches on Pendle for Yield Trading — this brief
Franklin Templeton's tokenized high-yield bond ETF has been listed on 
Pendle, a decentralized finance (DeFi) platform, through 
Ondo's FLHYon token. This development allows traders to trade future income from the ETF separately from the underlying asset. The FLHYon token, issued by Ondo, tracks the performance of Franklin Templeton's FLHY fund.
According to Crypto Daily, Franklin Templeton and SEC staff discussed tokenized fund trading pairs, liquidity-provider fees, and pool classification on October 9. This suggests that the asset manager is actively engaging with regulators to navigate the complexities of tokenizing traditional financial products.
The Pendle platform, which facilitates the trading of future yield, has a total value locked (TVL) of $1.23 billion, according to DeFiLlama. This figure represents a 1.6% decrease over the past seven days. The launch of Franklin Templeton's tokenized ETF on Pendle could potentially attract more institutional interest to the platform.
The market for Ondo's token (ONDO) has seen a 24-hour decline of 8.22%, with its market cap standing at $2.27 billion. Pendle's token (PENDLE) has also experienced a 5.07% drop in the same period, with a market cap of $358.44 million. These movements reflect the broader market trend, as the total crypto market cap remains relatively flat at $2.87 trillion.
The Fear & Greed Index currently stands at 57, indicating a state of 'Greed' in the market. This suggests that while there is some optimism, investors are still cautious. The development of tokenized traditional financial products like Franklin Templeton's ETF could be a key factor in shifting this sentiment.
Since this brief published about 3 hours ago, Ondo (ONDO) has moved from $0.4652 to $0.4652 — +0.00%.
The chart plots ONDO's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 ONDO ≈ ₹48.27 (about $0.4652), down 7.0% over 24 hours. The rupee itself trades about 8.2% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 13, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Franklin Templeton's Tokenized Bond ETF Launches on Pend — questions & answers
What is the significance of Franklin Templeton's tokenized ETF on Pendle?
It represents the tokenization of a traditional financial product, potentially attracting institutional investors to DeFi platforms.
How does the Pendle platform facilitate yield trading?
Pendle allows traders to trade future income from the ETF separately from the underlying asset.
What is the current TVL of the Pendle platform?
Pendle's TVL is $1.23 billion, according to DeFiLlama.
How much is 1 Ondo worth in rupee today?
About ₹48.27 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $0.4652. The rupee price moves with both ONDO's US-dollar price and the USDT/INR rate; use our Ondo in rupee page for any amount.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from The Cryptonomist, Crypto Daily, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.