Japanese financial group SBI Holdings announced on Friday (26th) that it has signed a memorandum of understanding with asset management giant Franklin Templeton to jointly establish an asset management company in Japan. The joint venture will offer emerging asset products such as Exchange-Traded Funds (ETFs) and digital assets to Japanese investors.
According to a press release from SBI Holdings, SBI will hold a 51% stake in the joint venture, with Franklin holding the remaining 49%. Franklin Templeton’s President and CEO, Jenny Johnson, stated that the aim of this joint venture is to enable “the next generation of investors” to access a more diverse range of investment tools. She noted that the new venture could potentially offer increased opportunities for young investors to access cryptocurrency ETFs and inject new capital into digital asset targets to facilitate price appreciation.
Yoshitaka Kitao, President and CEO of SBI Holdings, expressed that the company aims to further promote Web3 businesses through its new joint venture. He mentioned the possibility of launching cryptocurrency ETFs in Japan pending regulatory approval.
Franklin Templeton recently listed an Ethereum spot ETF (ticker: EZET) for trading earlier this week, following the launch of a Bitcoin spot ETF in January this year. When asked about the possibility of introducing cryptocurrency spot ETFs in Japan, a spokesperson for Franklin Templeton told Cointelegraph that it could be realized once regulatory frameworks allow.