Japanese crypto ETFs developed by Franklin Templeton and SBI Holdings partnership
Asset management giant Franklin Templeton is partnering with SBI Holdings to launch a new cryptocurrency exchange-traded fund (ETF) management company in another big development for crypto ETFs.
According to an announcement shared with Cointelegraph, the two organizations officially signed a Memorandum of Understanding (MoU) for a joint venture on July 26.
The new Japanese asset management firm aims to make more diverse investment vehicles more accessible to the “new generation of investors,” said Jenny Johnson, president and CEO of Franklin Templeton:
“The broad reach of SBI's iconic brand among a young audience in Japan aligns well with our commitment to helping this new generation of investors achieve their goals. This strategic partnership underscores our shared belief that best-in-class financing capabilities should be more accessible to investors.
The new joint venture could give young investors greater access to crypto-based ETFs and introduce newly acquired capital to the underlying digital asset, which could contribute to price appreciation.
The announcement comes shortly after the launch of the first spot Ether ETF in the United States, which went public on July 23.
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SBI Holdings aims to promote Web3 businesses – CEO
SBI Holdings, one of Japan's leading financial companies, aims to further promote the growth of Web3 companies.
SBI Holdings President and CEO Yoshitaka Kitao said the company is looking to further promote Web3 businesses through its new joint venture. he said:
“As a rapidly growing financial group in Japan, we are proud to have technology as a key source of growth and to introduce a variety of Web3-related businesses. We look forward to partnering with Franklin Templeton, whose business includes a focus on digital assets and the provision of industry-leading digital asset technology.”
Other investment giants are looking to invest more in Web3. Notably, billionaire Michael Novogratz's Galaxy Asset Management raised $113 million for a new crypto venture fund announced on July 25.
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What about Japanese crypto ETFs?
Franklin Templeton's new joint venture has introduced a spot crypto ETF opportunity in Japan.
Asked about the possibility of launching an EEF, a Franklin Templeton spokesperson told Cointelegraph that it could happen once the regulatory framework permits:
“The joint venture is expected to offer a range of investment solutions, including Franklin Templeton's existing ETFs. The new JV will launch related products after regulatory approval as regulations on digital assets and cryptocurrencies continue to evolve in Japan.
Franklin Templeton is one of the most popular crypto ETF issuers. It recently launched its US Spot Ether ETF, and the company is considering launching a Spot Solana ETF.
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