Krutika Adani
Franklin Templeton has entered Japanese financial markets to launch a new Bitcoin ETF.
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.
To launch the ETFs, both parties need to create a joint venture firm, i.e., an asset management company.
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.
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.