The senior executive of the global investment firm renewed her focus on the potential of digital ledger technology and blockchain adoption in finance.
Franklin Templeton, the global investment holding company, has filed for spot crypto ETFs in the US in 2023. The firm has been a significant proponent of crypto and its potential. Recently, a senior executive of the company, Sandy Kaul, spoke positively about blockchain adoption to a leading daily. She underlined the potential of digital ledger technology and crypto use cases in finance.
Terming Bitcoin as one of the best-performing asset classes of the last decade, Kaul said, “We believe that having alternative exposures in a portfolio for individuals as well as for institutions provides good diversification. And the better your diversification, the more resilient and robust your risk-adjusted returns will be.”
Their ETF application is currently awaiting the Security and Exchange Commission’s approval in the US. Sandy said blockchain adoption had accelerated in the recent past, leading to reengineering in the global financial markets. Moreover, she spoke earlier about crypto use cases that favored new investors.
According to her, the spot crypto ETFs could be helpful for investors acclaimed to ETFs. Besides, they could gain exposure to Bitcoin, creating a win-win situation for all stakeholders. Most of the spot crypto ETFs in the US are positive for approvals in 2024.
Meanwhile, digital ledger technology has recently received enormous impetus from multinational banks. Two events have secured its potential in the future of the financial services industry.
Firstly, JP Morgan’s blockchain platform, JPM Coin, has leveraged the technology and proved its applications for clients. Institutional clients have benefitted from the platform and contributed to its adoption. On the other hand, prominent banks like HSBC have also introduced crypto services. The move has also strengthened the future of crypto use cases with banks.
Follow Millionero’s blog for more such news from the crypto space!