Franklin Templeton Exec Calls Agentic AI Crypto's 'Killer Use Case' as ETH Nears $2K
Sandy Kaul, Head of Digital Assets and Innovation at Franklin Templeton, a $2 trillion asset manager, has described agentic AI as the ‘killer use case’ for cryptocurrency, sparking comments from former BlackRock VP John Gillen that the executive ‘just said to buy ETH.’ In a post on X, Kaul argued that while traditional investors buy shares of AI-aligned companies to capture growth, this strategy may not work for agentic AI, which involves AI agents independently initiating, tracking, and fulfilling transactions. Agentic commerce could reach $3 to $5 trillion by 2030.
Kaul noted that legacy payment systems, with high fees and slow times, are unsuitable for micropayments, and AI agents cannot access traditional financial services due to strict KYC requirements. He posited that AI agents will likely use decentralized blockchains, with Ethereum and its layer-2 networks currently being the industry standard, supported by the largest developer base and institutional backing. ‘I believe what will become increasingly clear in coming years is that in order to capture the value of decentralized networks and businesses, investors will need to buy the cryptocurrencies and altcoins being issued by those entities,’ Kaul wrote, adding that such investments could become key portfolio holdings for capturing the agentic AI opportunity.
In April, the International Monetary Fund released a report stating that agentic AI will reshape payments, with standards being developed by actors including Ethereum. Crypto commentator Leo Lanza noted that ‘almost nobody sees it as an AI bet’ but that AI agents will need financial rails.
Ethereum prices hit a seven-week high of $1,945 on Tuesday and traded at $1,930 at the time of writing, up 27% since its cycle low on June 26 and nearing the $2,000 barrier.