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<edgarSubmission xsi:schemaLocation="http://www.sec.gov/edgar/nmfp2 eis_NMFP2_Filer.xsd" xmlns="http://www.sec.gov/edgar/nmfp2" xmlns:common="http://www.sec.gov/edgar/common" xmlns:nmfp2common="http://www.sec.gov/edgar/nmfp2common" xmlns:statecodes="http://www.sec.gov/edgar/statecodes" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
  <headerData>
    <submissionType>N-MFP2</submissionType>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000765485</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <notifications></notifications>
      <notifications></notifications>
      <notifications></notifications>
      <notifications></notifications>
      <notifications></notifications>
      <notifications></notifications>
    </filerInfo>
  </headerData>
  <formData>
    <generalInfo>
      <reportDate>2021-05-31</reportDate>
      <cik>0000765485</cik>
      <registrantLEIId>549300M4TP89K77LG374</registrantLEIId>
      <seriesId>S000007358</seriesId>
      <totalShareClassesInSeries>1</totalShareClassesInSeries>
      <finalFilingFlag>N</finalFilingFlag>
      <fundAcqrdOrMrgdWthAnthrFlag>N</fundAcqrdOrMrgdWthAnthrFlag>
    </generalInfo>
    <seriesLevelInfo>
      <securitiesActFileNumber>002-96634</securitiesActFileNumber>
      <adviser>
        <adviserName>Franklin Advisers, Inc.</adviserName>
        <adviserFileNumber>801-26292</adviserFileNumber>
      </adviser>
      <indpPubAccountant>
        <name>PricewaterhouseCoopers LLP</name>
        <city>San Francisco</city>
        <stateCountry>CA</stateCountry>
      </indpPubAccountant>
      <administrator>
        <administratorName>Franklin Templeton Services LLC</administratorName>
      </administrator>
      <transferAgent>
        <name>Franklin Templeton Investor Services LLC</name>
        <cik>0000353291</cik>
        <fileNumber>084-01036</fileNumber>
      </transferAgent>
      <feederFundFlag>Y</feederFundFlag>
      <masterFeederFund>
        <cik>0000890089</cik>
        <name>The U.S. Government Money Market Portfolio</name>
        <seriesId>S000007450</seriesId>
      </masterFeederFund>
      <masterFundFlag>N</masterFundFlag>
      <seriesFundInsuCmpnySepAccntFlag>N</seriesFundInsuCmpnySepAccntFlag>
      <moneyMarketFundCategory>Exempt Government</moneyMarketFundCategory>
      <moneyMarketFundCategory>Government/Agency</moneyMarketFundCategory>
      <fundExemptRetailFlag>N</fundExemptRetailFlag>
      <averagePortfolioMaturity>6</averagePortfolioMaturity>
      <averageLifeMaturity>6</averageLifeMaturity>
      <totalValueDailyLiquidAssets>
        <nmfp2common:fridayDay1>1190198946.90</nmfp2common:fridayDay1>
        <nmfp2common:fridayDay2>1125861854.58</nmfp2common:fridayDay2>
        <nmfp2common:fridayDay3>1268329043.34</nmfp2common:fridayDay3>
        <nmfp2common:fridayDay4>1296268393.39</nmfp2common:fridayDay4>
      </totalValueDailyLiquidAssets>
      <totalValueWeeklyLiquidAssets>
        <nmfp2common:fridayWeek1>7934659645.97</nmfp2common:fridayWeek1>
        <nmfp2common:fridayWeek2>7505745697.18</nmfp2common:fridayWeek2>
        <nmfp2common:fridayWeek3>8455526955.57</nmfp2common:fridayWeek3>
        <nmfp2common:fridayWeek4>8641789289.28</nmfp2common:fridayWeek4>
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      <percentageDailyLiquidAssets>
        <nmfp2common:fridayDay1>0.1500</nmfp2common:fridayDay1>
        <nmfp2common:fridayDay2>0.1500</nmfp2common:fridayDay2>
        <nmfp2common:fridayDay3>0.1500</nmfp2common:fridayDay3>
        <nmfp2common:fridayDay4>0.1500</nmfp2common:fridayDay4>
      </percentageDailyLiquidAssets>
      <percentageWeeklyLiquidAssets>
        <nmfp2common:fridayWeek1>1.0000</nmfp2common:fridayWeek1>
        <nmfp2common:fridayWeek2>1.0000</nmfp2common:fridayWeek2>
        <nmfp2common:fridayWeek3>1.0000</nmfp2common:fridayWeek3>
        <nmfp2common:fridayWeek4>1.0000</nmfp2common:fridayWeek4>
      </percentageWeeklyLiquidAssets>
      <cash>10793.14</cash>
      <totalValuePortfolioSecurities>8641778496.00</totalValuePortfolioSecurities>
      <amortizedCostPortfolioSecurities>8641778496.14</amortizedCostPortfolioSecurities>
      <totalValueOtherAssets>2884996.03</totalValueOtherAssets>
      <totalValueLiabilities>2940113.62</totalValueLiabilities>
      <netAssetOfSeries>8641734171.69</netAssetOfSeries>
      <numberOfSharesOutstanding>8641736302.82</numberOfSharesOutstanding>
      <stablePricePerShare>1.0000</stablePricePerShare>
      <sevenDayGrossYield>0.0004</sevenDayGrossYield>
      <netAssetValue>
        <nmfp2common:fridayWeek1>1.0000</nmfp2common:fridayWeek1>
        <nmfp2common:fridayWeek2>1.0000</nmfp2common:fridayWeek2>
        <nmfp2common:fridayWeek3>1.0000</nmfp2common:fridayWeek3>
        <nmfp2common:fridayWeek4>1.0000</nmfp2common:fridayWeek4>
      </netAssetValue>
    </seriesLevelInfo>
    <classLevelInfo>
      <classesId>C000020209</classesId>
      <minInitialInvestment>1000.00</minInitialInvestment>
      <netAssetsOfClass>8641734171.69</netAssetsOfClass>
      <numberOfSharesOutstanding>8641736302.82</numberOfSharesOutstanding>
      <netAssetPerShare>
        <nmfp2common:fridayWeek1>1.0000</nmfp2common:fridayWeek1>
        <nmfp2common:fridayWeek2>1.0000</nmfp2common:fridayWeek2>
        <nmfp2common:fridayWeek3>1.0000</nmfp2common:fridayWeek3>
        <nmfp2common:fridayWeek4>1.0000</nmfp2common:fridayWeek4>
      </netAssetPerShare>
      <fridayWeek1>
        <weeklyGrossSubscriptions>1462873973.39</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>1257673603.90</weeklyGrossRedemptions>
      </fridayWeek1>
      <fridayWeek2>
        <weeklyGrossSubscriptions>995162652.13</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>1424074899.36</weeklyGrossRedemptions>
      </fridayWeek2>
      <fridayWeek3>
        <weeklyGrossSubscriptions>1989789301.94</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>1040024768.71</weeklyGrossRedemptions>
      </fridayWeek3>
      <fridayWeek4>
        <weeklyGrossSubscriptions>1689212420.40</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>1502960525.82</weeklyGrossRedemptions>
      </fridayWeek4>
      <totalForTheMonthReported>
        <weeklyGrossSubscriptions>6137038347.86</weeklyGrossSubscriptions>
        <weeklyGrossRedemptions>5224733797.79</weeklyGrossRedemptions>
      </totalForTheMonthReported>
      <sevenDayNetYield>0.0001</sevenDayNetYield>
      <personPayForFundFlag>Y</personPayForFundFlag>
      <nameOfPersonDescExpensePay>Franklin Templeton Services LLC, Administration Fee expense waivers, 1408771.88; Franklin Templeton Investor Services LLC, Transfer Agent Fee expense waivers, 11658.13;</nameOfPersonDescExpensePay>
    </classLevelInfo>
    <scheduleOfPortfolioSecuritiesInfo>
      <nameOfIssuer>U.S. GOVERNMENT MONEY MARKET PORTFOLIO (THE)</nameOfIssuer>
      <titleOfIssuer>U.S. GOVERNMENT MONEY MARKET PORTFOLIO (THE) 0.01</titleOfIssuer>
      <CUSIPMember>609920103</CUSIPMember>
      <LEIID>5493005SMQ69NXW3EG49</LEIID>
      <investmentCategory>Investment Company</investmentCategory>
      <securityEligibilityFlag>Y</securityEligibilityFlag>
      <NRSRO>
        <nameOfNRSRO>N/A</nameOfNRSRO>
        <rating>N/A</rating>
      </NRSRO>
      <investmentMaturityDateWAM>2021-06-07</investmentMaturityDateWAM>
      <investmentMaturityDateWAL>2021-06-07</investmentMaturityDateWAL>
      <finalLegalInvestmentMaturityDate>2021-06-07</finalLegalInvestmentMaturityDate>
      <securityDemandFeatureFlag>N</securityDemandFeatureFlag>
      <securityGuaranteeFlag>N</securityGuaranteeFlag>
      <securityEnhancementsFlag>N</securityEnhancementsFlag>
      <yieldOfTheSecurityAsOfReportingDate>0.0001</yieldOfTheSecurityAsOfReportingDate>
      <includingValueOfAnySponsorSupport>8641778496.14</includingValueOfAnySponsorSupport>
      <excludingValueOfAnySponsorSupport>8641778496.14</excludingValueOfAnySponsorSupport>
      <percentageOfMoneyMarketFundNetAssets>1.0000</percentageOfMoneyMarketFundNetAssets>
      <securityCategorizedAtLevel3Flag>N</securityCategorizedAtLevel3Flag>
      <dailyLiquidAssetSecurityFlag>Y</dailyLiquidAssetSecurityFlag>
      <weeklyLiquidAssetSecurityFlag>Y</weeklyLiquidAssetSecurityFlag>
      <illiquidSecurityFlag>N</illiquidSecurityFlag>
      <explanatoryNotes>Item C.21 has been answered "Yes" for only 15% of holding. Issuer of shares for which response is provided has undertaken to provide redemption proceeds within one business day of up to 15% of each shareholder's total investment in the issuer.</explanatoryNotes>
    </scheduleOfPortfolioSecuritiesInfo>
    <signature>
      <registrant>Institutional Fiduciary Trust</registrant>
      <signatureDate>2021-06-07</signatureDate>
      <signature>/s/Robert Kubilis</signature>
      <nameOfSigningOfficer>Robert Kubilis</nameOfSigningOfficer>
      <titleOfSigningOfficer>Vice President</titleOfSigningOfficer>
    </signature>
  </formData>
</edgarSubmission>
