While much has been made of spot Bitcoin ETF trading volume and net inflows of new capital since it was approved and began trading earlier this month, the lion’s share of buying and selling is spread across a few select instruments.
Franklin Templeton’s spot Bitcoin ETF has so far not been part of the elite group of products offered by BlackRock, Fidelity and Grayscale, the three of which account for about 90% of total trading volume. But the Wall Street firm, founded in 1947, is confident its spot Bitcoin ETF product will gain popularity among financial advisors and investors.
“It’s only a matter of time as education progresses about how these assets can help complement and potentially provide better long-term solutions alongside other assets in a portfolio,” Roger Bayston, head of digital assets at Franklin Templeton, told The Block. .” he said. “It takes time.”
Bayston said Franklin Templeton’s core business is working with financial advisors and wealth platforms to provide solutions, products and services they can offer to their clients. Bayston believes his company will emerge as the “digital asset provider of choice” as the investment community grows larger. I am familiar with spot Bitcoin ETFs.
“There are new products that didn’t exist before. These platforms are taking on the fiduciary responsibility of filtering those providers and finding differentiation to help customers get the best long-term outcomes. That’s an ongoing process, right now.” Bayston said.
As of Monday, total trading volume for spot Bitcoin ETFs exceeded $14 billion. published data with Eric Balchunas, senior ETF analyst at Bloomberg Intelligence. Franklin Templeton’s trading volume was $101 million, his data also showed. The spot Bitcoin ETF began trading in less than two weeks.
Franklin Templeton, confident to stand out
Despite the slow start, Bayston believes Franklin Templeton will eventually stand out among competing providers of new products due to its proven commitment to digital assets.“It is built inside the public blockchain community.”
“The real differentiator is that this is built within the blockchain community. It helps us understand this infrastructure in places other providers don’t,” he said. “The idea that we provide in-depth investment services and research across the entire digital asset space is another differentiator.”
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