Traditional Finance Giant Franklin Templeton Bets Big On Bitcoin With ETF Application
Portfolio Pulse from Murtuza Merchant
Franklin Templeton has applied for a Bitcoin ETF, marking its entry into the cryptocurrency sector. The ETF, to be overseen by Coinbase Inc., is set for a listing on the Cboe BZX Exchange. This move mirrors actions by other financial powerhouses like Blackrock, who anticipate that the SEC might soon approve a spot Bitcoin ETF for the mainstream market.
September 12, 2023 | 3:48 pm
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Blackrock is also anticipated to follow Franklin Templeton's move into the crypto sector, expecting SEC approval for a Bitcoin ETF.
The news indicates a growing trend of traditional financial giants moving into the crypto sector. This could potentially increase Blackrock's attractiveness to investors interested in digital assets.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Coinbase Inc. will oversee Franklin Templeton's proposed Bitcoin ETF, which is set for a listing on the Cboe BZX Exchange.
Coinbase's role in overseeing the proposed Bitcoin ETF could potentially boost its reputation and attractiveness to investors, leading to a positive impact on its stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100