Franklin Templeton CEO Says ETF Shows Ubiquitous Demand for Bitcoin

Franklin Templeton CEO Jenny Johnson said her company decided to launch a spot bitcoin exchange-traded fund (ETF) in response to the “growing demand” for the flagship cryptocurrency.

Johnson made the statement in a CNBC interview on January 19, 2022, countering earlier notions that she does not support Bitcoin or cryptocurrencies, saying:

“Bitcoin is just one of a set of tools that we think there is an opportunity for.”

Her comments are particularly striking, considering Franklin Templeton manages roughly $1.4 trillion in assets and has been around for 76 years. The statement also highlights the growing acceptance of Bitcoin as a viable investment option among mainstream traditional financial firms.

Bitcoin’s Growing Integration

Johnson said the launch of the Franklin Templeton Bitcoin ETF is a strategic response to the increased use of bitcoin in trading and its integration into the broader financial system.

She added that the technology underpinning Bitcoin and other cryptocurrencies has created “diverse and novel investment opportunities” that will continue to evolve.ETC Miner

Reflecting on Bitcoin’s role in global finance, Johnson echoed BlackRock CEO Larry Fink’s point about Bitcoin’s role as a hedge against oppressive governments. She shared how Bitcoin can serve as a safety net for individuals in unstable regimes.

Johnson gave examples of individuals who turned to Bitcoin after the government confiscated their assets, and others who held Bitcoin to protect themselves from sudden and dramatic inflation.

“There’s an element of worry in it that’s considered almost an insurance or security element.”

Committed to marketing

Johnson said these use cases form the basis of Bitcoin’s value to humanity as a tool to protect freedom. However, the industry is still in its early stages and holding Bitcoin is complicated for the average person who is not tech-savvy.

Johnson said the Bitcoin ETF gives people access to Bitcoin without having to deal with the complexities of the technology. She added that ETFs make Bitcoin more accessible, which is ultimately a good thing for Bitcoin adoption.Bitmain Miner

Johnson said Franklin Templeton has been optimistic about the crypto industry for years and made its first foray into tokenizing assets on a public blockchain in 2021. She added that the company has been at the forefront of adoption and will continue its commitment to this approach.

She said that the company will continue to launch investment products that customers want, whether in the form of cryptocurrency ETFs or mutual funds. However, she did not elaborate further on the company’s future plans.