Franklin Templeton and SBI Holdings Team Up to Bring Bitcoin ETFs to Japan

Franklin Templeton and SBI Holdings are teaming up to bring Bitcoin ETFs to Japan by establishing a digital asset management company there.

Franklin Templeton and SBI Holdings are joining forces to introduce Bitcoin ETFs in Japan through a local digital asset management venture.

As part of the agreement, SBI will hold a majority stake of 51% in the new company, while Franklin will own the remaining 49%. In addition to Bitcoin ETFs, the joint venture will also venture into digital asset securities, including tokenization, a field projected to reach $16.1 trillion by 2030.

This move follows Franklin Templeton's launch of the tenth largest US Bitcoin ETF, which has seen strong performance with $312 million in AUM.

“We have been participating and building in the digital asset ecosystem since 2018 and have seen the transformative power of blockchain technology firsthand,” said Roger Bayston, Head of Digital Assets at Franklin Templeton.

On Tuesday, Franklin Templeton also launched the Franklin Ethereum ETF (EZET) on the Cboe BZE Exchange, with a 0.19% fee that will be waived until the ETF reaches $10 billion in assets on 31 January 2025.

“After the success of our spot bitcoin ETF (EZBC) launch in January, we are proud to add EZET to our growing lineup of digital asset ETFs,” said Patrick O’Connor, Head of Global ETFs for Franklin Templeton.

“With EZET, we are thrilled to offer our clients additional access to the digital asset ecosystem within a regulated fund structure that integrates seamlessly into traditional portfolios.”

Further commenting on the firm's interest in Ethereum, Bayston stated, “Ethereum has been at the forefront of Web3 innovation with things like smart contracts and the Ethereum Virtual Machine and we're excited to bring that technology revolution to our clients.”

On the other hand, SBI Holdings has been actively partnering with overseas companies to expand its alternative asset investment offerings.

In November 2023, stablecoin issuer Circle and SBI Holdings announced a strategic partnership to revolutionize the use of digital assets and usher in the era of Web3 services in Japan.

At the heart of this collaboration is the wide-scale adoption of the US Dollar Coin (USDC). The integration of the stablecoin, issued by Circle and pegged to the US dollar, into the Japanese financial ecosystem aims to unlock numerous opportunities.

These include simplifying cross-border transactions, enhancing liquidity in the digital asset market, and introducing innovative financial products and services, Circle said in an announcement.

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