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.
Crypto analyst Ali Martinez has indicated that an altseason may be imminent, a phase where alternative cryptocurrencies outperform Bitcoin.
BlackRock CEO Larry Fink has expressed strong support for Bitcoin, affirming its legitimacy as a financial asset during a recent interview with CNBC.
The U.S. Securities and Exchange Commission (SEC) has authorized BlackRock to offer options trading on spot Bitcoin ETFs, marking a key milestone in expanding crypto investment products.
Crypto trader Michaël van de Poppe suggested that the Federal Reserve’s recent decision to cut interest rates by 50 basis points could positively influence the crypto market.