Franklin Templeton CEO says ETF has shown ‘demand’ for Bitcoin is ‘everywhere’

Franklin Templeton CEO says ETF has shown ‘demand’ for Bitcoin is ‘everywhere’
Jenny Johnson said the launch of Franklin Templeton's Bitcoin ETF is a strategic response to the increased use of Bitcoin in transactions and its integration into the broader financial system.
Assad Jafri
Jan. 19, 2024 at 11:02 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Franklin Templeton CEO Jenny Johnson said her firm decided to launch a spot Bitcoin ETF because there is a lot of “escalating demand” for the flagship cryptocurrency.
Johnson made the statement during a CNBC interview on Jan. 19, where she countered previously held notions that she was not supportive of Bitcoin or cryptocurrency as false. She said:

“Bitcoin is just one of the suite of what we think are opportunities here.”

The comments are particularly noteworthy, 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 Franklin Templeton’s Bitcoin ETF is a strategic response to the increased use of Bitcoin in transactions 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.
Reflecting on Bitcoin’s role in global finance, Johnson echoed BlackRock CEO Larry Fink’s sentiments regarding Bitcoin as a hedge against oppressive governments. She shared insights into how Bitcoin serves as a safety net for individuals in unstable regimes.
Johnson gave examples of people who turned to Bitcoin after the government confiscated their assets and people who held Bitcoin to protect themselves against sudden and violent inflation.