Wall Street Fails to Recognize Bitcoin’s Massive Scale, Says Franklin Templeton CEO

• Franklin Templeton’s CEO Jenny Johnson says traditional finance overlooks Bitcoin’s scale and growing transaction volume.
• Johnson spends 30% of her time focused on digital assets and AI to position Franklin Templeton for the future of finance.
• Mastercard and Visa have begun integrating blockchain technology, signaling growing awareness of digital assets’ potential.

Franklin Templeton CEO Jenny Johnson has voiced concern that Wall Street continues to underestimate Bitcoin’s scale. Johnson, who took the leadership role at the asset management firm in 2020, shared her insights during the Wyoming Blockchain Symposium in Jackson Hole. 

According to Johnson, Bitcoin represents a rapidly growing ecosystem, and many traditional financial institutions are unaware of its true scope. In her role, Johnson spends a significant amount of time analyzing disruptive technologies such as digital assets, aiming to prepare Franklin Templeton for the future.

A Shift Toward Disruptive Technology

Johnson noted that 30% of her daily focus revolves around emerging technology. She emphasized that her primary objective is to steer the firm towards future trends. Digital assets, alongside artificial intelligence, have caught Johnson’s attention as pivotal innovations. 

While many conventional institutions have little understanding of Bitcoin’s monetary value and transaction volume, Johnson stressed that Bitcoin’s ecosystem continues to expand. The disconnect between the traditional financial world and Bitcoin’s magnitude is a gap Johnson believes needs addressing.

Major Payment Firms Take Notice

Although many financial institutions remain disconnected from Bitcoin’s ecosystem, payment giants Mastercard and Visa are taking steps to integrate blockchain technology. Visa, for example, has partnered with firms like Circle and Solana to trial new crypto-related products. 

Additionally, Mastercard has introduced a blockchain-based debit card. These moves signal that some traditional financial firms are beginning to recognize the significance of digital assets.

Franklin Templeton’s Push into Digital Assets

Since Johnson’s appointment, Franklin Templeton has taken a leading role in exploring digital asset investments. In 2021, the firm launched its OnChain U.S. Government Money Market Fund (FOBXX), the first fund to record ownership using a public blockchain. 

Earlier this week, the firm took another step forward by filing with the SEC to introduce the Franklin Crypto Index ETF. The proposed ETF would offer investors exposure to major digital assets like Bitcoin and Ethereum, marking Franklin Templeton’s continued expansion into the blockchain space.