As of Monday, Franklin Templeton’s spot Bitcoin exchange-traded fund (ETF) accounted for $100M of the more than $14B in overall trading volume.
According to the company’s digital assets head, financial advisors that partner with Frankin Templeton will ‘soon’ become comfortable recommending spot Bitcoin exchange-traded funds to their customers.
A lot has been made regarding spot Bitcoin exchange-traded fund trading volumes and the net fresh capital influx following their approval and start of trading in early January. However, the most significant share of purchasing and selling is spread over a few instruments.
Franklin Templeton Trailing Spot Bitcoin ETFs of Leading Trio
So far, Franklin Templeton’s spot Bitcoin exchange-traded fund has not been part of the leading group of products provided by Fidelity, BlackRock, and Grayscale. The companies account for almost 90% of the overall trading volume. However, the 1947-founded Wall Street company still believes that its spot Bitcoin exchange-traded fund will become famous among investors and financial advisors.
Roger Bayston, Franklin Templeton’s Head of Digital Assets, said it is only a matter of time. This is as education progresses about how the assets complement and aid in delivering possibly more improved long-term solutions along with other assets. Roger said this is something that takes time.
Roger said that Franklin Templeton’s primary business entails collaborating with financial advisors and offering solutions, services, and products that can be delivered to customers. He is confident his company will ultimately be ‘the leading digital asset provider’ as the investment community gains more knowledge regarding spot Bitcoin exchange-traded funds.
Roger said that people have a new product that has never been there. The platforms are executing their fiduciary duties of filtering via the providers and identifying differentiators that ensure the most appropriate long-term outcomes for their customers.
A senior ETF analyst, Eric Balchunas, posted data on X showing that as of January 22, the spot Bitcoin exchange-traded fund’s overall trading volume was more than $14B. The data also showed that Franklin Templeton had accounted for $101M in trading volume. Spot Bitcoin exchange-traded funds started trading less than two weeks ago.
Franklin Templeton’s Optimism About Gaining Prominence
Despite the sluggish start, Roger is confident Franklin Templeton will finally stand out among competitors. The standing out is partly linked to its established dedication to digital assets, which includes ‘development inside the public blockchain community.’
According to Roger, building inside a blockchain community is a true differentiator that enables them to understand this infrastructure in places where the rest of the providers may not. He also said that providing deep investment services and research across the whole digital asset is the other unique feature setting Franklin Templeton for an inevitable rise.
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