The interest in Bitcoin (BTC) that has stirred the price recently is not a phony one, as Franklin Templeton CEO, Jenny Johnson, confirmed there is huge demand for the top cryptocurrency.
Speaking in an interview recently, Johnson weighed in heavily on the prospects of the industry as a whole, revealing that Franklin Templeton is keeping a close watch on industry trends on behalf of its clients.
As an investment manager with over $1.33 trillion in Assets Under Management (AUM), Franklin Templeton is among the top contenders to land the first spot Bitcoin ETF product in the US.
Eulogy for Bitcoin and Blockchain
According to Jenny Johnson, there is an understanding among the firm’s clients of the subtle difference between Bitcoin and blockchain. She acknowledged that Bitcoin is the single asset driving the demand in the industry.
“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.
With Bitcoin already proving itself as a viable asset class, Johnson is optimistic that a spot Bitcoin ETF approval will be a game changer. This is because it can help shift the paradigm positively by dragging money from traditional financial investors to Bitcoin.
The Franklin Templeton CEO is optimistic that in the long run, Bitcoin may become more visible in portfolios, and the potential spot ETF approval might lead to more impressive growth spikes soon.
Tokenization Potential of Blockchain
Bitcoin’s transaction processing is preprogrammed, making it a better option to engage with the financial ecosystem. Johnson believes that through blockchain in general, tokenization of real-world assets and transactions is a positive one.
She particularly foresees how blockchain and its accompanying innovations can “unlock nontraditional, noncorrelated types of asset classes that are going to be interesting for our clients.”
Just like BlackRock and Fidelity Investments, Franklin Templeton is also getting ready for the potential SEC official approval for Bitcoin spot ETFs with anticipation for one of the biggest marketing wars in US market history.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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