SBI Holdings and Franklin Templeton Partner for Bitcoin ETF
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SBI Holdings has partnered with Franklin Templeton, an investment management firm, to form an investment company that will be involved in Bitcoin ETFs. This partnership is a result of SBI Holdings’ plan to increase its influence in the asset market. The collaboration is significant for both firms as they capitalize on the increasing demand for digital currencies. The investment management company is set to start its operations this year with SBI Holdings having 51% control while Franklin Templeton has 49% control. This joint venture comes when the demand for crypto-related products is on the rise. Bitcoin Market Response and Regulatory Developments The initiative is backed by recent events in the United States where the Securities and Exchange Commission (SEC) has allowed the listing of Bitcoin and Ethereum spot ETFs. These have created a path for Japan and other regulators to be lenient on the Bitcoin ETFs. In this regard, SBI Holdings and Franklin Templeton are preparing for the future growth of the investment market in Asia. 🚨 Breaking: #Ripple partner SBI Holdings & Franklin Templeton are teaming up to dive into the #Bitcoin ETF market! 🚀 They’re setting up a new investment management company, with SBI holding a 51% stake. Major step as Japan readies for easier Bitcoin ETF regulations. 🌏💰… pic.twitter.com/UKNdOcKqIT — Collin Brown (@CollinBrownXRP) July 25, 2024 In the related market activities, Bitcoin seemed to have crashed, losing 3.63% of its value within the last 24 hours. It was still trading at $63,970 at the time of this writing. However, the trading volume has risen by 17% which shows that there is still interest from investors in the market Franklin Templeton’s Strategic Focus Areas Additionally Franklin Templeton has disclosed its interests within the Bitcoin and Ethereum ecosystems after the latest approval of cryptocurrency ETFs. Some of these technologies…
Filed under: News - @ July 25, 2024 8:18 pm