The CEO of Franklin Templeton, a global asset manager and fellow Bitcoin (BTC) exchange fund contender, has revealed that the company has cryptocurrencies in its portfolio. It’s the first time that CEO Franklin Templeton, who has more than $1.5 trillion in assets under management, has shared her crypto holdings with the public.
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BTC, ETH, UNI and SUSHI
Jennifer M. Johnson has been at the helm of the California-based asset manager since February 2020. In an interview with Fortune last Saturday, Johnson revealed that he owns the two largest cryptos by market capitalization: Bitcoin and Ethereum (ETH). It also owns the Ethereum-based tokens Uniswap (UNI) and Sushiswap (SUSHI).
Johnson said cryptocurrencies only make up a small portion of their overall portfolio. Additionally, she said she is not a fan of non-fungible tokens (NFTs). She favors investments with a clear financial return and argues that not all NFTs make sense from a personal investment perspective:
“I tend to invest in things that I think are focused on financial returns because I think you have a better chance of success there. There are things that are like art in an NFT: if two people love it, they will find a market price for it. And so there will be opportunities in this area. Not everything will be successful, not everything will be good, but there will be some who are successful.”
Bitcoin exchange fund race
Franklin Templeton launched the race to launch a Bitcoin exchange fund in the United States in September, just months after the explosion in exchange fund applications led by BlackRock.
Franklin Templeton was informed by the American last week, well before the very first deadline Securities and Exchange Commission (SEC) that it will have to wait longer for a final decision on whether the fund can be launched. However, this turned out to be good news as the regulator apparently decided to approve all applications at the same time in early January.
The possible emergence of a Bitcoin exchange fund logically could not be ignored in the interview. Asked when the regulator might give the green light to such a product, Johnson said she was unsure of the timeline.
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