Franklin Templeton and SBI Collaborate to Launch Bitcoin ETFs in Japan According to Report
A new partnership has formed between Japanese financial giant SBI Group and U.S. asset manager Franklin Templeton, as they anticipate the potential approval of crypto funds in Japan. Their goal is to introduce spot Bitcoin exchange-traded funds to the Japanese market, according to sources familiar with the matter cited by Nikkei Asia.
In this collaboration, SBI Group will hold a majority 51% stake, with Franklin Templeton owning the remaining portion. While spot Bitcoin ETFs have already been approved in the U.S., Hong Kong, and other countries, Japan has yet to make a decision on this financial product.
The partnership between SBI Group and Franklin Templeton indicates a possibility that Japan’s Financial Services Agency may approve the ETF in the future, although a timeline has not been disclosed. The joint venture is expected to offer crypto securities, although specific details have not been revealed.
In other news, Japan’s Government Pension Investment Fund, the country’s largest pension fund, is reportedly considering investments in alternative assets such as Bitcoin and gold. The fund is said to be exploring the potential inclusion of Bitcoin and other commodities like farmlands, forests, and precious metals.
In February, the Japanese cabinet approved the inclusion of crypto assets in the investments that local limited partnerships can acquire or hold. This move is part of Prime Minister Fumio Kishida’s “new capitalism” policy, which aims to promote Japan’s web3 industry.
Additionally, Japan is looking into ways to prevent peer-to-peer transfers from fiat to crypto, as the country continues to navigate the evolving landscape of digital assets.
