Japanese financial group SBI Holdings announced on Friday (the 26th) that it has signed a memorandum of cooperation with asset management giant Franklin Templeton to jointly establish an asset management company in Japan. This joint venture company will provide Japanese investors with new asset products such as Exchange-Traded Funds (ETFs) and digital assets.
According to a press release from SBI Holdings, SBI will hold 51% of the shares in the joint venture company, while Franklin will hold 49% of the shares. According to a report by Cointelegraph, Jenny Johnson, President and CEO of Franklin Templeton, stated that the goal of this joint venture company is to allow “a new generation of investors” to better access a more diverse range of investment tools. She wrote:
Reportedly, this new joint venture enterprise may provide more opportunities for young investors to access cryptocurrency ETFs and inject new capital into digital asset targets, thereby promoting their price increase.
According to Yoshitaka Kitao, President and CEO of SBI Holdings, the company aims to further promote its Web3 business through its new joint venture company. He stated:
If regulatory approval is obtained, a cryptocurrency ETF will be launched in Japan.
Franklin Templeton’s Ether spot ETF (stock code EZET) was listed for trading earlier this week on Tuesday, and the company also listed a Bitcoin spot ETF in January. When asked about the possibility of launching a cryptocurrency spot ETF in Japan, a Franklin Templeton spokesperson told Cointelegraph that this could happen once the regulatory framework permits it.
