Bitcoin Good News from Franklin Templeton CEO: “We Have Not Seen the Second Wave Yet”
Franklin Templeton CEO Jenny Johnson expressed optimism about the future of US spot Bitcoin ETFs in a recent interview. Johnson believes his company's fund is well positioned to capture greater market share and expects an increase in demand for these products.
“We haven't even had a second wave yet,” Johnson said. “This is really the first wave of early adopters, and I think the next wave will be larger institutions that are more comfortable with how the system fits.”
Spot Bitcoin ETFs have seen significant capital inflow since their launch on January 11, generating over $13 billion in net inflows in less than three months. To date, they have seen a total inflow of 14.8 billion dollars. This influx of capital has increased the BTC price by over 60% year-to-date, reaching a new peak price of $73,700 in March.
However, both ETF inflows and price movements stagnated in April and May, leading to speculation that demand may have peaked. Despite this, Johnson believes many professional money managers are still figuring out how to incorporate Bitcoin into their portfolio strategies.
“Right now, Bitcoin is a little bit risk-on, a little bit risk-off,” he said, adding: “It's a little bit like gold, so some people think that way, some people think in terms of technology.”
Finally, Johnson stated that the company hopes that its Bitcoin product will attract fee-sensitive investors and thus gain a larger market share.
