Franklin Templeton and SBI Plan Spot Bitcoin ETF Launch in Japan

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Hongji Feng

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Hongji Feng

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Hongji is a crypto and tech reporter. He graduated from Northwestern University's Medill School of Journalism with a Bachelor's and a Master's. He has previously interned at HTX (Huobi Global),...

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July 25, 2024

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Franklin Templeton and SBI Holdings are collaborating to launch a spot Bitcoin exchange-traded fund (ETF) in Japan.

According to a recent report by Nikkei, SBI and Franklin Templeton will establish a new digital asset management company to prepare for the introduction of cryptocurrency ETFs in Japan, focusing initially on Bitcoin ETFs.

New Joint Company to Bring More Digital Assets

SBI Holdings will hold a 51% stake in the new company, while Franklin Templeton, the seventh-largest asset manager globally, will own the remaining 49%. The initiative is set to proceed as soon as Japan’s Financial Services Agency grants approval.

SBI Holdings prepares to launch spot #Bitcoin ETF in Japan! – Nikkei ⚡️#SBI Holdings and #Franklin Templeton will launch their own company that will be in digital asset management

Franklin Templeton is an issuer of spot $BTC and $ETH ETFs. Manages $1.6 trillions in assets, is… pic.twitter.com/a0hqxVP7Zz

— ✈️ Crypto HODL 🐪💎 (@Crypto7HODL) July 25, 2024

The new joint venture will offer digital asset securities through blockchain tokenizing assets like real estate and government bonds. Franklin Templeton’s early involvement supports this initiative, with tokenized assets projected to reach $16.1 trillion by 2030, according to Boston Consulting Group and ADDX.

The report indicated that SBI has been collaborating with international companies to broaden its range of alternative asset investment products.

In July 2023, SBI announced the formation of a company with the U.K.-based Man Group, followed by another venture with U.S. private equity firm KKR in September 2023.

Franklin Templeton Issues Spot Ethereum ETF

Franklin Templeton launched its Franklin Ethereum ETF (EZET) on July 23. It is offered on the Cboe BZX Exchange with a fee of 0.19%.

“After the success of our spot bitcoin ETF (EZBC) launch in January, we are proud to add EZET to our growing lineup of digital asset ETFs,” said the company’s Head of Global ETFs, Patrick O’Connor.

“We have been active participants and builders in the digital asset ecosystem since 2018 and have seen the transformative power of blockchain technology firsthand,” said Head of Digital Assets Roger Bayston.

Bayston stated that the company is eager to offer its clients Ethereum’s Web3 innovations, such as smart contracts and the Ethereum Virtual Machine.