According to Cointelegraph, asset management giant Franklin Templeton is partnering with Japanese financial group SBI Holdings to establish a new cryptocurrency exchange-traded fund (ETF) management company for "a new generation of investors." ” Provide more opportunities to obtain more diversified investment tools.
Franklin and SBI Holdings to partner on ETFs
According to reports, the two companies had officially signed a memorandum of cooperation (MoU) for the joint venture on July 26.
Jenny Johnson, CEO of Franklin Templeton said:
SBI’s broad reach among Japan’s young audience aligns well with our commitment to helping a new generation of investors achieve their goals. This strategic partnership underscores our shared belief that investors should have easier access to best-in-class financial capabilities.
SBI Holdings aggressively expands Web 3 development
SBI Holdings is a Japanese financial group focused on the development of Web 3. It has recently cooperated with a number of companies to jointly promote stable coins and the development of multiple Web 3 fields.
Cooperate with stablecoin issuer Circle to promote the circulation of stablecoin USDC in Japan and establish in-depth banking relationships
SBI, Mitsubishi UFJ, Progmat collaborate to sell real estate securities tokens
SBI's 100 billion yen startup fund supports Web3, AI startups
SBI Remit, its remittance company, has formed a joint venture with Ripple to launch SBI Ripple Asia to introduce Ripple-powered remittance solutions to bank accounts in the Philippines, Vietnam and Indonesia.
Is Japan expected to launch a cryptocurrency ETF?
Franklin has issued a Bitcoin spot ETF (code: EZBC) and an Ethereum spot ETF (code: EZET) in the United States, with asset sizes of US$460 million and US$24.86 million respectively as of 7/26.
When asked if the joint venture will launch a cryptocurrency ETF in Japan? A spokesperson for Franklin Templeton said this could happen once the regulatory framework allows:
The joint venture is expected to offer diversified investment solutions, including Franklin Templeton's existing ETFs. As regulations regarding digital assets and cryptocurrencies continue to evolve in Japan, the new joint venture will launch related products subject to regulatory approval.
According to previous reports, after the opening of Bitcoin spot ETFs in the United States, the Japanese brokerage "SBI Securities" received many purchase requests from customers. However, "SBI Securities" stated that since purchasing overseas ETFs in Japan must be approved by the Japan Financial Services Agency, it is still Unable to offer customers for purchase. Japanese experts pointed out that Japan currently prohibits citizens from buying and selling Bitcoin ETFs, and does not allow re-entrusted purchases.
(Stubborn Financial Supervisory Commission? The Japanese Financial Services Agency also does not allow Chinese people to trade Bitcoin ETFs and prohibits double delegation)
This Article Franklin Partners with SBI Holdings, Japan Expected to Launch Cryptocurrency ETF? First appeared in Chain News ABMedia.
