Bitcoin Comment from the CEO of the 1.6 Trillion Dollar Company: “The Second Wave is Coming!”

Jenny Johnson, CEO of Franklin Templeton, which manages $1.6 trillion in assets, said she “feels good” about Bitcoin ETFs.

Spot Bitcoin ETFs in the US attracted more than $13 billion in investments in the first three months after entering the market on January 11. According to current data, this number has exceeded $15 billion.

Get ready for the second wave

The price of Bitcoin has risen 60% since the beginning of the year, driven by ETFs, and broke its own record by approaching $74,000 in March.

According to Franklin Templeton CEO, portfolio managers are still trying to figure out how to include Bitcoin in their portfolios.

“Bitcoin is a bit of a risk-on, risk-off investment right now,” Johnson said. "Because it is a bit like gold, some people see it that way, while others look at it from a technological perspective," he said.

“This is really the first wave of early adopters of Bitcoin ETFs,” Johnson said. "I think the next wave will consist of much larger institutions," he said.

Giant institutions started to invest

Filings with the U.S. Securities and Exchange Commission (SEC) showed that a number of major institutions were already investing in spot Bitcoin ETFs during the first quarter of the year.

These include names such as Wisconsin State Investment Board and Millennium Management.

Wants to increase market share

Franklin Templeton's own spot Bitcoin ETF is among the smallest ETFs, with an inflow of $359 million so far.

The company is also the company that charges the lowest fee, with a fund management fee of 0.19%. “We hope to make people more aware of fund management fees and grow our market share,” Johnson said.