The world of cryptocurrency is increasingly gaining institutional acceptance. Now, those who manage giant companies also include cryptocurrencies in their portfolios. One of them is Franklin Templeton CEO Jenny Johnson. Johnson announced that he included Bitcoin and 3 altcoins in his basket.
He loves Bitcoin and these 3 altcoins, but he’s not a fan of NFTs!
As you follow on Kriptokoin.com, crypto currencies are now in everyone’s language and portfolio. So much so that those who manage huge investment companies can no longer remain indifferent to crypto. It has been revealed that Jenny Johnson, CEO of Franklin Templeton, has personally invested in cryptocurrencies including Bitcoin (BTC) and Ethereum (ETH), as well as Uniswap (UNI) and Sushi Swap (SUSHI). Johnson said on Saturday These investments are “small for my overall portfolio,” he told Fortune in a published interview.This is the first time Johnson has publicly disclosed his crypto investments.
However, Johnson does not seem to be a fan of Non-Fungible Tokens (NFT). He states that he prefers mature investments with clear financial returns. Johnson notes that not all NFTs make sense from a personal investment perspective. In this context, Johnson says:
I tend to invest in things that I think have a financial return. Because I think your chances of success are higher there. There are some things in NFT like art, if two people love it they will find a market price for it. Therefore, there will be opportunities in this area. Not all of them will be successful, not all of them will be good. However, there will also be successful ones.
What does Johnson think about Bitcoin ETF approval?
Franklin Templeton, which has more than $1.3 trillion in assets under management, filed for a spot Bitcoin ETF with the Securities and Exchange Commission in September. The SEC has not yet approved a spot Bitcoin ETF. Asked when the regulator might greenlight such a product, Johnson says he is unclear on the approval timeline. He also notes that regulators are working to determine the best approach and should confirm it in due course.
Many asset managers, including BlackRock and Fidelity, have sought approval for Bitcoin ETFs. “There is clearly a demand for Bitcoin,” Johnson said. “I also believe a spot ETF is a better way to access Bitcoin,” he says.
Blockchain is democratizing private markets!
Franklin Templeton is actively researching and adopting Blockchain technology. In 2021, it launched a tokenized money market fund and separately managed accounts focused on crypto. It is also a Blockchain node validator. Johnson says in the interview that Franklin Templeton is a “big believer” in crypto and Blockchain. Johnson states that blockchain technology will help democratize private markets, among other benefits. In this context, Johnson makes the following statement:
This is because the technology eliminates the friction costs associated with transactions. And if you can reduce the friction in transactions, then you can more easily securitize or break up ownership of things that are very difficult to consider operationally. Instead, you can establish and transfer ownership of these difficult-to-handle assets much more easily.
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