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.
Bitcoin could soon play an official role in Arizona’s public finance system. This week, state lawmakers approved the Arizona Strategic Bitcoin Reserve Act, a bill that would allow up to 10% of treasury and retirement fund assets to be invested in digital assets like Bitcoin.
Institutional hunger for Bitcoin is accelerating — and BlackRock is leading the charge.
Despite a rocky year for global markets, Presto’s head of research, Peter Chung, remains unfazed about Bitcoin’s long-term potential.
Bitcoin started the week strong, climbing past $94,000 and nearing the $95,000 mark, just as the market braces for important U.S. economic data.