SBI Holdings Teams Up With Franklin Templeton to Establish Digital Asset Management Company Targeting Bitcoin ETFs in Japan

This venture aims to prepare for the potential approval of Bitcoin BTC/USD and cryptocurrency exchange-traded funds in Japan.

Investment firm Franklin Resources Inc. (NYSE: BEN) subsidiary Franklin Templeton has joined forces with Japan’s SBI Holdings Inc. (OTC: SBHGF) to establish a digital asset management company.

The new company will launch as early as this year with SBI holding a 51% stake and Franklin Templeton holding the remaining 49%.

The venture is being prepared for the potential approval of Bitcoin (BTC) and cryptocurrency exchange-traded funds in Japan.

This venture is significant as Franklin Templeton, with about $1.6 trillion in assets under management, is the world’s seventh-largest asset manager, Nikkei reported on Friday.

While Franklin Templeton has largely focused on asset classes like stocks and bonds, it has recently expanded into digital assets.

The firm was among the first to venture into spot Bitcoin ETFs after they were approved by the U.S. Securities and Exchange Commission in January.

The cumulative inflows into these ETFs have crossed $16 billion in just over six months.

What Happened: The new company will launch crypto ETF products as soon as the Financial Services Agency gives the green light.

The joint venture is also expected to offer digital asset securities, an area where Franklin Templeton has already made some headway.

This collaboration comes at a time when the cryptocurrency market is seeing several developments globally.

In January, the SEC approved a Bitcoin ETF, marking a pivotal moment in the history of cryptocurrencies.

This decision was seen as a major step towards mainstream acceptance and could potentially unlock a new wave of institutional investment in the crypto sector.

In June, Australia saw the listing of its first-ever Bitcoin spot ETF on its main stock market, further boosting the cryptocurrency sector.

The VanEck Bitcoin ETF, with a seed investment of nearly $657,000, made its debut on the Australian Securities Exchange.

Additionally, in July, Hong Kong launched Asia’s first Bitcoin futures inverse product, marking a new milestone in the evolution of crypto-based financial instruments in the region.

With the approval of Bitcoin ETFs, investors can now include this digital asset in their portfolios through traditional brokerage accounts, similar to how they invest in stocks or bonds.

For those looking to diversify, options include Fidelity Wise Origin Bitcoin Fund Common Shares of Beneficial Interest (NYSE: FBTC), ProShares Bitcoin Strategy ETF (NYSE: BITO), Valkyrie Bitcoin and Ether Strategy ETF (NYSE: BTF), VanEck Bitcoin Trust Common Shares of Beneficial Interest (NYSE: HODL), ARK 21Shares Bitcoin ETF Common Shares of Beneficial Interests (NYSE: ARKB), Franklin Templeton Digital Holdings Trust Shares of Franklin Bitcoin ETF (NYSE: EZBC), and iShares Bitcoin Trust (NYSE: IBIT).

Price Action: Shares of Bitcoin were trading at $67,027.60 today, up 1.87% today.

Year to date, the apex cryptocurrency has soared by $22,855.60, notching a gain of 51.74%.

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