Tokenized Treasury funds are moving from niche experiment to real market plumbing, as products like Ondo’s US$407m OUSG show how government debt can live on blockchain rails while staying inside familiar regulatory guardrails. For investors, that shift is less about crypto speculation and more about how yield, collateral, and settlement might be rewired. This article walks through 3 stocks from the Tokenized Treasury Adoption Stocks With Institutional Exposure Upside screener that are closely exposed to the same news driving this change, helping you decide which opportunities might deserve a closer look and which might be worth avoiding for now.

Franklin Resources (BEN)

Overview: Franklin Resources, known as Franklin Templeton, is a global asset manager that runs equity, fixed income, multi asset and alternative funds for individuals, institutions and retirement plans, with operations across North America, Europe, Asia and the Middle East.

Operations: Franklin Resources generates about US$9.0b from investment management and related services, with most revenue from the United States (US$6.7b) and additional contributions from Luxembourg, Asia Pacific, the rest of the Americas and Europe, the Middle East and Africa.

Market Cap: US$17.4b

Franklin Resources sits at the intersection of traditional asset management and on chain finance, with its BENJI tokenized money market fund and broader blockchain efforts directly plugged into the growing tokenized Treasury ecosystem driving this screener. The company is already working with large crypto exchanges and has tokenized ETFs and funds aimed at investors who want yield and compliant structures rather than unbacked stablecoins. At the same time, investors need to weigh weak dividend coverage, a recent large one off loss of US$588.2m and reliance on external borrowings, while also considering a P/E that sits below many peers and analysts’ expectations for higher future earnings. That combination of digital experimentation, global AUM scale and real balance sheet questions is a key part of the current story.

Franklin Resources is trying to rewire yield on chain while its low P/E and global AUM sit in the shadow of that US$588.2m hit. The real question is what the 3 key rewards and 2 important warning signs is missing.

BlackRock (BLK)

Overview: BlackRock is a global investment manager that runs mutual funds, ETFs, alternatives and separate accounts for governments, pension plans, insurers, wealth managers and individual investors across almost every major asset class and region.

Operations: BlackRock generates about US$25.6b from its asset management business, drawing roughly US$16.9b from the Americas, US$7.6b from Europe and US$1.2b from Asia Pacific.

Market Cap: US$168.5b

BlackRock sits at the heart of tokenized Treasuries through its BUIDL fund and broader digital asset work, giving you exposure to the same institutional on chain shift that is lifting products like Ondo’s OUSG, while still being anchored in a large, diversified asset and technology platform. Analysts highlight its role in ETFs, private markets and digital infrastructure. However, you also need to weigh softer recent earnings, falling profit margins, a higher than average P/E and signs of fee pressure and funding risk. The key consideration is whether BlackRock’s push into tokenization, Aladdin powered digital assets and higher fee alternatives is enough to offset those headwinds and support its current valuation.

BlackRock’s push into tokenization and higher fee alternatives could be masking a deeper valuation story. See how the 3 key rewards and 2 important warning signs ties its earnings, fee pressure, and digital ambitions together.

Broadridge Financial Solutions (BR)

Overview: Broadridge Financial Solutions runs the behind the scenes communications and trading infrastructure that lets brokers, asset managers and public companies handle proxy voting, regulatory mailings and the full trade lifecycle across equities, bonds, funds and derivatives in the US and overseas.

Operations: Broadridge generates most of its revenue from Investor Communication Solutions at US$5.4b, with Global Technology and Operations contributing about US$1.9b.

Market Cap: US$17.1b

Broadridge Financial Solutions gives you direct exposure to the plumbing that could make tokenized Treasuries and other digital assets usable at scale, from distributed ledger repo platforms processing trillions in volume to on chain proxy voting for tokenized securities and work on networks like Canton. The stock combines several notable traits, including recurring SaaS style revenues, high reported ROE and a 2.64% dividend. These positives sit alongside questions about leverage, funding risk and whether earnings growth can keep pace as event driven revenues cool and competition in capital markets technology increases. The key consideration for investors is how that mix of tokenization initiatives, recurring cash flows and debt risk evolves over time, and what the current valuation implies under different possible outcomes.

Broadridge’s tokenization work, recurring SaaS style revenues and 2.64% dividend suggest a story investors may be underpricing, but the real twist sits in the 4 key rewards and 1 important warning sign

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.