Franklin Templeton to Launch Bitcoin ETFs in Japan

Krutika Adani

Franklin’s Bitcoin ETF in Japan

Franklin Templeton has entered Japanese financial markets to launch a new Bitcoin ETF.

Partners With the SBI Group

The US financial giant has partnered with the Japanese financial giant, the SBI Group. The latter is already involved in several crypto ventures and owns a crypto exchange in Japan.

Joint Venture Asset Management Company

To launch the ETFs, both parties need to create a joint venture firm, i.e., an asset management company.

Why It Matters

Bitcoin ETFs are seen to be widely adopted in the US, Australia, Europe, and Hong Kong. Japan's entry on this list would encourage Bitcoin’s global adoption.

Key Price Levels in Bitcoin

At press time, Bitcoin is at $67k, up by 4.5% in the last 24 hours. The crypto has support at $65k and resistance at $70k-$71k, beyond which a new ATH might form in the near future.

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