Franklin Templeton and SBI team up to launch a Bitcoin ETF in Japan
Franklin Templeton and SBI Holdings announced their strategic collaboration to establish a digital asset management company in Japan.
This joint venture aims to prepare for possible approval of exchange-traded funds (ETF) in Bitcoin and cryptocurrencies in the country.
SBI Holdings will own a 51% stake in the project, while Franklin Templeton will retain the remaining 49% stake.
It should be noted that Franklin Templeton manages assets estimated at approximately $1.6 trillion, making it the seventh largest asset manager in the world.
Although Franklin Templeton has traditionally focused on stocks and bonds, it has recently expanded its activities to include digital assets, including spot Bitcoin ETFs.
Although Japan has not yet approved Bitcoin ETFs, the new company is preparing to launch cryptocurrency ETF products once it receives approval from the Financial Services Agency.