Franklin Templeton CEO Excited About Future with On-Chain ETFs

Jenny Johnson shares she is astonished by how much less it costs to run operations on the blockchain. 

Jenny Johnson with laser eye and with Gary Gensler behing a digital curtain.
Created by Gabor Kovacs from DailyCoin
  • Franklin Templeton’s CEO is excited about the future of blockchain technology. 
  • Jenny Johnson cites eye-opening results from in-house experiments. 
  • Franklin Templeton is optimistic about integrating the technology into the firm’s operations. 

Blockchain technology and the crypto industry have recently gained favor among major financial institutions, marking a significant shift from just a few years ago. Back then, trillion-dollar asset management firms cast doubt on the space, branding it as a hotbed of fraud. However, the industry has evolved remarkably in recent years, winning over even the staunchest critics. Among them is Franklin Templeton’s CEO, Jenny Johnson, whose public support signals a seismic shift in perception. 

Franklin Templeton CEO Expresses Her Love for Blockchains

“First of all, I am a huge fan of blockchain and the technology,” Jenny Johnson reiterated her unwavering support for blockchain technology during the 27th Annual Milken Institute Global Conference in California. 

Sponsored

The Franklin Templeton CEO expressed her enthusiasm for blockchain’s potential, emphasizing that her firm has been working on new ways to leverage the technology. During her interview, Johnson shared that the trillion-dollar asset management firm gained many insights from in-house experiments comparing traditional and blockchain technologies. 

The results were eye-opening for Franklin Templeton. Johnson expressed astonishment at the cost efficiency of blockchain technology compared to traditional methods.

“We were astonished by how much less cost it was to run it on the blockchain. It’s a very effective technology, and we think it is going to open up a lot of new investment opportunities.” Johnson shared.

Convinced by the technology’s potential, the CEO hinted at Franklin Templeton’s plans to explore new investment avenues, including on-chain ETFs and mutual funds. Johnson explained that navigating the currency financial infrastructure, particularly reconciling data across multiple systems, was costly and time-consuming. 

With blockchain technology, Franklin Templeton can mitigate costs significantly and enhance its efficiency. Johnson expressed enthusiasm over opening up avenues for other investment opportunities. The CEO, who was particularly looking forward to using the technology for myriad applications within the firm, also radiated optimism. 

On the Flipside

  • Franklin Templeton launched the first US-registered fund using a public blockchain to process transactions and document share ownership.
  • Franklin Templton’s Bitcoin ETF held $365 million in assets under management at press time. 

Why This Matters 

A few years ago, blockchain technology and the crypto industry had a bad rap, primarily due to the prevalence of bad actors and scammers tarnishing the industry’s image. However, Jenny Johnson’s recent comments signal a major shift in perception and highlight the remarkable progress the industry has made. They also underscore the growing willingness of major asset managers and institutions to delve into and incorporate blockchain technology into their operations.

Sponsored

Are Bitcoin Runes a Flop?
Bitcoin Runes Hype Simmers Down as Network Activity Plunges

Ark 21Shares cut staking from their ETF proposal:
ARK 21Shares Update ETH ETF Proposal: No More Staking

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Insha Zia

Insha Zia is a senior journalist at DailyCoin covering crypto developments, especially in the Cardano ecosystem. With a Bachelor of Science in Computer Systems Engineering, he delivers high-quality articles with his technical background and expertise in data analysis and programming languages, aiming to educate and inform readers accurately, transparently, and engagingly. Insha believes education can drive mass adoption of the crypto space, and he is committed to giving DailyCoin readers a better understanding of the technology.