Jenny Johnson, the President and Chief Executive Officer of Franklin Templeton, recently attended Consensus 2024. She participated in the panel discussion, where she discussed RWA Tokenization, the potential of blockchain in boosting TraFi, and Bitcoin ETFs. For reference, Franklin Templeton was one of the applicants to receive approval for the Spot Bitcoin ETF from the US SEC in January 2024.
For starters, Johnson said that blockchain has immense potential and capability to support TradFi. She expressed confidence by saying that blockchain was transformational and now requires only a better understanding before implementation. This is based on the fact that blockchain can help save costs by acting as a source of truth and recording the timing of transactions.
RWA tokenization pertains to the tokenization of real-world assets. It entails making assets like bonds and funds available on the rails of digital assets. Interestingly, the company was one of the first players to launch a money market fund on-chain via Stellar Network three years ago, in 2021.
She added that the nature of their business puts constant pressure on them to reduce costs. Blockchain helps achieve this, and RWA is only an example. As noted in her speech at the event, blockchain further helps reduce administrative workload.
The market is waiting for the final approval of the Spot Ether ETF, which could match the hype of the Spot Bitcoin ETF. Franklin Templeton is one of the applicants for the Ether ETF, having launched a similar Bitcoin-related product earlier this year. ETFs are often preferred because they are a well-understood vehicle that allows traders to gain exposure to assets without owning them. Also, they are resistant to government seizure, which makes them more attractive.
Johnson called the ETF a vehicle of choice, adding that it makes people more comfortable, especially those who would otherwise not have been comfortable.
The remark comes as BTC consolidates around $68,000. It is currently listed at $68,382.12, with a surge of 0.74% in the last 24 hours. The token is expected to surpass $77,000 in the next 5 days and $87,000 in the next 30 days. A rise to more than $87,000 would be a jump of 28%.
The current value is up by 1.77% in the last 7 days and 7.87% in the previous 30 days. The 24-hour trading volume has gained sufficient traction for a jump of 5.65% while writing this article.
Ether continues to rally around $3,700 amid bullish sentiments for its ETF. It could soon surpass the psychological mark of $4,000, paving the way for a jump to $5,000 by the end of this year, 2024.
Franklin Templeton already houses the Spot Bitcoin ETF and is waiting for a nod on the Spot Ether ETF.
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