After their groundbreaking success in the U.S., Bitcoin exchange-traded funds now seem to be on track to be launched in Japan. According to a recent report by Nikkei Asia, Japanese financial giant SBI recently joined forces with American multinational holding company Franklin Templeton in order to bring such products to the world's third-biggest economy.
SBI and Franklin Templeton have partnered to jointly create a cryptocurrency management company. This company will be able to launch a Bitcoin ETF in Japan as soon as there is regulatory approval.
Bitcoin ETFs are already available in such countries as Canada, Brazil, and, of course, the U.S. However, Japanese financial regulators have yet to greenlight such products.
Alex DovbnyaEarlier this year, Franklin Templeton became one of the first firms to offer a Bitcoin ETF in the U.S. Recently, it also launched its own Ethereum ETF on the Chicago Board Options Exchange (CBOE) exchange.
The U.S.-based investment firm does not plan to stop there. Recently, it also started exploring the possibility of launching a Solana-based ETF.
Bitcoin ETFs see more inflows
In the meantime, US-based Bitcoin ETFs expanded their inflow streak.
On Thursday, BlackRock's IBIT attracted $70.7 million worth of inflows. This was more than enough to offset GBTC's outflows that came close to $40 million.
Dan Burgin
Vladislav Sopov