Models get the headlines. The compute, power, data and payment rails underneath them decide who keeps the value.
Every wave of software has a visible layer and a foundation layer. The visible layer changes quickly and attracts attention. The foundation layer changes slowly and collects rent for a long time.
Four rails
For machine intelligence we see four rails under everything: compute to run models, energy to power that compute, data to train and ground them, and payment rails so that software can pay for what it uses. Franklin baskets are organised around exactly those rails.
Why a basket, not a pick
Nobody knows which single model, chip or network wins. A basket accepts that uncertainty and holds the whole rail instead of guessing a winner. That is the core idea behind the Franklin ETF name: exposure to a theme, packaged simply.
What this is not
$FRANKLINETF is a crypto token on Robinhood Chain. It is not a registered fund, and the baskets described on this site are model designs that do not hold assets today.
This article is research and opinion from the Franklin ETF community. $FRANKLINETF is a crypto token, not a registered fund, and nothing here is investment advice.