Franklin Templeton and SBI Partner for Bitcoin ETF Venture
25.07.2024 20:45 1 min. read Alexander Stefanov
Japan’s major financial player, SBI Holdings, announced on Thursday its plans to collaborate with U.S. investment firm Franklin Templeton to create a new investment management company, targeting the Bitcoin ETF sector.
This strategic move highlights SBI’s ongoing efforts to expand its footprint in the cryptocurrency space.
SBI Holdings and Franklin Templeton will co-establish the new investment firm, which will focus primarily on digital assets.
The joint venture will see SBI hold a 51% majority stake, with Franklin Templeton owning the remaining 49%. The company is expected to launch later this year.
This development follows a surge in interest in spot Bitcoin ETFs in the U.S., spurred by recent approvals from the SEC.
The U.S. also approved spot Ethereum ETFs earlier this week, signaling a potential shift in the regulatory landscape. Japan is also preparing for Bitcoin ETF investments, anticipating changes in local regulations.
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