Traditional Finance Giant Franklin Templeton Bets Big On Bitcoin With ETF Application

Franklin Templeton has marked its entry into the competitive cryptocurrency sector by applying for a Bitcoin BTC/USD exchange-traded fund (ETF).

This move signifies the traditional financial giant's recognition of the growing importance of digital assets in the investment landscape.

In light of these significant advancements in the crypto space, industry enthusiasts are keenly looking forward to Benzinga's Future of Digital Assets conference on Nov. 14. The event promises to shed light on such transformative initiatives and their potential impact on the digital asset landscape. Notably, David Alderman, Research Analyst at Franklin Templeton, will be one of the esteemed speakers at the conference, offering insights into the firm's strategic direction in the crypto domain.

The firm's proposed ETF, to be overseen by Coinbase Inc. COIN, is set for a listing on the Cboe BZX Exchange, Inc.

This initiative by Franklin Templeton mirrors actions by other financial powerhouses like Blackrock BLK, who anticipate that the SEC might soon greenlight, or even be legally compelled to approve, a spot Bitcoin ETF for the mainstream market.

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Such an offering would provide regular investors a straightforward avenue to tap into Bitcoin's value within their standard brokerage portfolios, right beside traditional assets like stocks and bonds.

Being a renowned player in structured investment offerings, including mutual funds and ETFs, Franklin Templeton's foray into the bitcoin ETF realm was somewhat expected.

However, this marks their inaugural filing in this domain, emphasizing the significance of their move.

The San Mateo, California-based firm has shown increasing interest in digital assets, experimenting with innovative funds that merge blockchain tech with tokenized treasury bonds.

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Meet and engage with transformative Digital Asset and Crypto business leaders and investors at Benzinga's exclusive event — Future of Digital Assets. Tickets are flying — get yours!