The post Another Wave of Bitcoin ETF Adoption Is Coming: Franklin Templeton CEO appeared on BitcoinEthereumNews.com.

We do the research, you get the alpha! Get exclusive reports and access to key insights on airdrops, NFTs, and more! Subscribe now to Alpha Reports and up your game! Go to Alpha Reports Franklin Templeton CEO Jenny Johnson said in an interview this week that she’s “feeling good” about U.S. spot Bitcoin ETFs, with her company’s fund aiming to capture more market share from an expected future spike in demand to hit the products. “You haven’t even gotten that second wave,” said Johnson in an interview with CNBC published on Tuesday. “This is really the first wave of the early adopters, and I think the next wave is the bigger institutions who get more comfortable with how it settled out.” Spot Bitcoin ETFs hauled over $13 billion in net inflows within less than three months after their launch on January 11, and have taken in $14.8 billion to date. This helped drive Bitcoin’s price up over 60% year-to-date to a new peak price of $73,700 in March, with BlackRock’s fund shattering all records for a newly launched ETF. Both ETF inflows and price action stagnated through April and May, leading to some speculation that demand had already peaked. JUST IN‼️ – Jenny Johnson, CEO of Franklin Templeton: “This is really the first wave of the early [#Bitcoin ETF] adopters. And I think the next wave is the much BIGGER institutions.” 🚀🚀🚀 pic.twitter.com/LfEd8YBKiv — Swan (@Swan) June 5, 2024 However, a slew of SEC disclosures in April showed that large investors and firms—while having made many high-profile Bitcoin purchases—still only comprised about 20% of the new Bitcoin ETFs’ assets under management. In other words, most of their initial demand came from retail investors, while major institutions were still only dipping their toes in. According to Johnson, many professional money managers…

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Filed under: News - @ June 6, 2024 11:18 am