Trillion dollar asset manager Franklin Templeton Bitcoin He acknowledged that there was a huge demand for it. Franklin Templeton CEO Jenny Johnson caused a stir by stating that her clients were closely watching BTC for an entry position. The asset manager has $1.33 trillion under management for institutional clients across all industries. Johnson explained that customers are distinguishing between blockchain technology, especially BTC, and that BTC is the only cryptocurrency driving demand.
I think it is important that we distinguish between Bitcoin and blockchain. I think there is a demand for Bitcoin. It has its own use case and that’s why you see these ETFs.
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Johnson also admitted that Spot Bitcoin ETFs could increase his clients’ interest in BTC by unlocking non-traditional financial assets.
It will unlock non-traditional, uncorrelated asset classes that will be interesting to our clients. We also think it will make the types of products you have today more efficient.
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Jenny JohnsonHe emphasized that Bitcoin is a new and efficient way to operate the financial sector because it comes with smart contracts. “ETFs are traded all day but are priced only twice a day. So, imagine creating a pooled tool on the blockchain. When you trade, you can have the smart contract tell you exactly what the underlying value of those securities is. “This is a much more efficient way to transact.”
Franklin Templeton Wants to Offer Spot Bitcoin ETFs to Clients
The US Securities and Exchange Commission (SEC) has not yet approved Spot Bitcoin ETFs. Media reports indicate that the SEC may approve BTC ETFs in Q2 2024. However, none of these have been officially confirmed. Bitcoin broke above the $41,000 level on Monday and is now heading towards the $42,000 level.
Following ETF approval, Bitcoin price could surge as Franklin Templeton, BlackRock, and other leading asset managers will allow their clients to purchase the Spot BTC ETF.