The CEO of asset management company Franklin Templeton, Jenny Johnson, has revealed that she has personally invested in crypto assets including Bitcoin and Ethereum, as well as Uniswap and Sushi. In an interview published on November 2nd, Johnson told Fortune that these investments were of small amounts. This interview marks the first time Johnson has publicly disclosed her crypto investments.
Jenny Johnson’s Remarks on the Crypto Market
In the continuation of the interview, Jenny Johnson also shared her thoughts on NFTs. She expressed a preference for mature investments with financial returns, stating that NFTs do not align with her personal investment philosophy:
“I tend to invest in things that I believe will have a financial return because I think there’s a higher chance of success there. In the NFT space, there are things like art, where if two people love it, it will find a market price. So, there will be opportunities in this area as well. Not all will be successful, not all will be good, but there will be those that are.”
Franklin Templeton, which manages over $1.3 trillion in assets, had applied to the Securities and Exchange Commission (SEC) for a spot Bitcoin exchange-traded fund (ETF) in September. The SEC has yet to approve a spot Bitcoin ETF. Johnson mentioned that the timeline for approval is uncertain, and that the regulatory body is working to determine the best approach. Many asset management companies, including BlackRock and Fidelity, are seeking approval for spot Bitcoin ETF applications. Johnson commented on this matter:
“It’s clear there is a demand for Bitcoin, and I believe that a spot ETF is a better way to access Bitcoin.”
Franklin Templeton Gives Green Light to Blockchain Space
Franklin Templeton is gaining attention for its active research and adoption of blockchain technology. In 2021, the company began working on a tokenized money market fund and crypto-focused separately managed accounts.
During the interview, Johnson stated that Franklin Templeton is a strong believer in crypto and blockchain. She mentioned that blockchain technology could help democratize private markets, among many other benefits, and explained:
“The reason is that the technology eliminates friction costs associated with transactions. If you can reduce the friction in transactions, then you can more easily securitize or partition ownership of things that are operationally very difficult to consider.”