Franklin partners with SBI Holdings! Is Japan expected to launch a cryptocurrency ETF?

This site (120bTC.coM): According to Cointelegraph, asset management giant Franklin Templeton is partnering with Japanese financial group SBI Holdings to establish a new cryptocurrency exchange Exchange-traded fund (ETF) management companies provide the "new generation of investors" with more opportunities to obtain more diversified investment tools.

Franklin and SBI Holdings will cooperate in ETF

According to reports, the two companies have officially signed a memorandum of cooperation (MoU) for the joint venture on July 26.

Franklin CEO Jenny Johnson said: SBI’s broad reach among Japan’s young audience aligns well with our commitment to helping a new generation of investors achieve their goals. This strategic partnership underscores our shared belief that investors should have easier access to best-in-class financial capabilities.

SBI Holdings is actively expanding the development of Web3

SBI Holdings is a Japanese financial group focusing on the development of Web3. It has also recently cooperated with a number of companies to jointly promote the development of stable coins and multiple Web3 fields.

• Cooperate with stablecoin issuer Circle to promote the circulation of stablecoin USDC in Japan and establish in-depth banking relationships

• SBI, Mitsubishi UFJ, and Progmat cooperate to start selling real estate securities tokens

• SBI 100 billion The Japanese Yen New Venture Fund supports Web3 and AI startups

• SBI Remit, a subsidiary of its remittance company, and Ripple jointly established SBI Ripple Asia to introduce Ripple-supported remittance solutions to bank accounts in the Philippines, Vietnam and Indonesia

Japan is expected to Launching a cryptocurrency ETF?

Franklin has issued Bitcoin spot ETF (code: EZBC) and Ethereum spot ETF (code: EZET) in the United States. As of 7/26, the asset size was US$460 million and US$24.86 million respectively.

When asked if the joint venture will launch a cryptocurrency ETF in Japan? A Franklin spokesperson said this could happen once the regulatory framework allows: The joint venture is expected to offer a diversified investment solution, including Franklin's existing ETFs. As regulations regarding digital assets and cryptocurrencies continue to evolve in Japan, the new joint venture will launch related products subject to regulatory approval.

According to previous reports, after the opening of the Bitcoin spot ETF in the United States, the Japanese brokerage "SBI Securities" received many purchase requests from customers. However, "SBI Securities" stated that since the purchase of overseas ETFs in Japan must be approved by the Japan Financial Services Agency, It is still not available for customer purchase. Japanese experts pointed out that Japan currently prohibits citizens from buying and selling Bitcoin ETFs, and does not allow re-entrusted purchases.

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