Key Takeaways
- Franklin Templeton and SBI Holdings collaborate to introduce Bitcoin ETFs to the Japanese market.
- The partnership highlights growing Japanese institutional interest in Bitcoin.
- The initiative is expected to attract both retail and institutional investors, potentially boosting the adoption of Bitcoin in Japan.
Franklin Templeton and SBI Collaboration
Franklin Templeton and SBI Holdings have announced a partnership to introduce Bitcoin exchange-traded funds (ETFs) in Japan.
The two companies will establish a digital asset management company as early as this year to prepare for the Japanese Government's approval.
The collaboration aims to leverage Franklin Templeton's expertise in asset management and SBI's strong presence in the Japanese financial market. SBI will hold a 51% stake in the new company, with Franklin Templeton owning the rest.
The introduction of Bitcoin ETFs in Japan is subject to approval by the Financial Services Agency (FSA), the country's financial regulator.
What it means for the Japanese Bitcoin ecosystem
Once approved, Japan will join the small list of countries where Bitcoin ETFs have been approved for listing along with the US, Canada, Brazil, Hong Kong and Australia.
With around $1.6 trillion in assets under management, Franklin Templeton is the seventh-largest asset manager in the world.
SBI Holdings is the parent company of Japan's largest online brokerage, SBI securities.
This is a sign that institutions are coming to the Japanese Bitcoin market.
