Franklin Templeton and SBI Holdings are teaming up to introduce a spot Bitcoin exchange-traded fund (ETF) in Japan. According to a recent report by Nikkei, the two firms will create a new digital asset management company to prepare for the launch of cryptocurrency ETFs in the country, starting with Bitcoin ETFs.

SBI Holdings will retain a 51% stake in the new joint venture, while Franklin Templeton, recognized as the seventh-largest asset manager globally, will hold the remaining 49%. The initiative is set to move forward once Japan’s Financial Services Agency grants the necessary approvals.

In addition to Bitcoin ETFs, the new company will offer digital asset securities through blockchain technology, focusing on tokenizing various assets such as real estate and government bonds.

The report also highlighted SBI’s ongoing collaborations with international firms to expand its portfolio of alternative asset investment products, indicating a strategic move to diversify offerings in the evolving financial landscape.

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