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Franklin Templeton Confirms There’s a Huge Demand For Bitcoin
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The trillion-dollar asset manager Franklin Templeton acknowledged that there’s a huge demand for Bitcoin. The CEO of Franklin Templeton Jenny Johnson revealed that their clients are closely watching Bitcoin for an entry position. The asset manager holds $1.33 trillion under management from institutional clients across all sectors. Johnson explained that clients differentiate between Bitcoin and blockchain technology, and BTC is the sole cryptocurrency that’s driving demand.
Also Read: BRICS: 150 Countries To Pay Chinese Yuan, Not USD for Loan Repayment?
“I think it’s important that we differentiate Bitcoin and blockchain. I think that there’s a demand for Bitcoin. It has its own use case, and that’s why you’re seeing these ETFs,” she said.
Johnson confirmed that Spot Bitcoin ETFs could unlock non-traditional financial assets and introduce BTC to their clients. New financial assets such as Bitcoin drive demand and could spike BTC’s price after the Spot ETF approval.
“It’s going to unlock nontraditional, noncorrelated types of asset classes that are going to be interesting for our clients. We also think that it’s going to make more efficient the types of products that you have today.” Johnson explained.
Also Read: US Dollar First Casualty When Trade Between BRICS Countries Rise
The CEO stressed that Bitcoin is a new and efficient way to operate the financial sector as it comes with smart contracts. “ETFs trade all day, but only price twice a day. So, imagine that you build a pooled vehicle on the blockchain. When you transact, you can have the smart contract tell you exactly what the underlying value of those securities is. It’s just a much more efficient way to be able to operate,” Johnson described.
Franklin Templeton Eager To Offer Spot Bitcoin ETFs to Clients
The U.S. Securities and Exchange Commission (SEC) is yet to approve Spot Bitcoin ETFs. Reports suggest that the SEC might approve BTC ETFs during Q2 of 2024. However, none of it is confirmed. Bitcoin crossed above the $41,000 mark on Monday and is now heading towards $42,000.
Also Read: BRICS: UAE Ditches U.S. Dollar for Oil Trade
After the ETF approval, Bitcoin could spike in price as Franklin Templeton, BlackRock, and other leading asset managers will allow their clients to purchase Spot BTC ETF.
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Franklin Templeton Confirms There’s a Huge Demand For Bitcoin
Share:
The trillion-dollar asset manager Franklin Templeton acknowledged that there’s a huge demand for Bitcoin. The CEO of Franklin Templeton Jenny Johnson revealed that their clients are closely watching Bitcoin for an entry position. The asset manager holds $1.33 trillion under management from institutional clients across all sectors. Johnson explained that clients differentiate between Bitcoin and blockchain technology, and BTC is the sole cryptocurrency that’s driving demand.
Also Read: BRICS: 150 Countries To Pay Chinese Yuan, Not USD for Loan Repayment?
“I think it’s important that we differentiate Bitcoin and blockchain. I think that there’s a demand for Bitcoin. It has its own use case, and that’s why you’re seeing these ETFs,” she said.
Johnson confirmed that Spot Bitcoin ETFs could unlock non-traditional financial assets and introduce BTC to their clients. New financial assets such as Bitcoin drive demand and could spike BTC’s price after the Spot ETF approval.
“It’s going to unlock nontraditional, noncorrelated types of asset classes that are going to be interesting for our clients. We also think that it’s going to make more efficient the types of products that you have today.” Johnson explained.
Also Read: US Dollar First Casualty When Trade Between BRICS Countries Rise
The CEO stressed that Bitcoin is a new and efficient way to operate the financial sector as it comes with smart contracts. “ETFs trade all day, but only price twice a day. So, imagine that you build a pooled vehicle on the blockchain. When you transact, you can have the smart contract tell you exactly what the underlying value of those securities is. It’s just a much more efficient way to be able to operate,” Johnson described.
Franklin Templeton Eager To Offer Spot Bitcoin ETFs to Clients
The U.S. Securities and Exchange Commission (SEC) is yet to approve Spot Bitcoin ETFs. Reports suggest that the SEC might approve BTC ETFs during Q2 of 2024. However, none of it is confirmed. Bitcoin crossed above the $41,000 mark on Monday and is now heading towards $42,000.
Also Read: BRICS: UAE Ditches U.S. Dollar for Oil Trade
After the ETF approval, Bitcoin could spike in price as Franklin Templeton, BlackRock, and other leading asset managers will allow their clients to purchase Spot BTC ETF.
In This News
Coins
Share:
In This News
Coins
Share:
Read More
Bitcoin Soars: BTC Price Skyrockets Past $89,000 Milestone