Leading asset management firm Franklin Templeton’s CEO Jenny Johnson proclaimed her support for blockchain and crypto and claimed the technology will power ETFs and mutual funds.
The Annual Milken Institute Global Conference in California witnessed multiple discussions on various subjects. One of them was with Jenny Johnson, the President and CEO of Franklin Templeton. This discussion was particularly interesting because of her pro-crypto stance in the financial services industry. According to Johnson, blockchain and crypto will help support the industry in the future, powering ETFs and mutual funds.
Franklin Templeton’s CEO also spoke on tokenization and artificial intelligence. Regarding tokenization, she expressed how her firm experimented with the concept and found encouraging results.
Moreover, she was extremely bullish on blockchain during the discussion. She said, “It’s a very efficient technology, and we think it’s going to open up a lot of new investment opportunities. And, honestly, eventually, I think ETFs and mutual funds are all going to be on blockchain.”
She said blockchain solved the problem of validating external parties during transactions. Meanwhile, she also indicated how blockchain could lead to cost savings and better monetary utilization. She cited the example of Rihanna, who had leveraged non-fungible tokens that distributed a portion of her song’s royalties to their holders.
Franklin Templeton has also submitted an application for a spot Ethereum ETF. This comes days after spot Bitcoin ETFs created a frenzy among investors globally. Although there is still much progress left regarding the proposal, it is still a signal toward the adoption of crypto.
On the other hand, Sandy Kaul, another senior executive of Franklin Templeton, also spoke about crypto’s potential. She shared her insights in 2023 and indicated the towering disruption crypto could bring to finance.
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