Investment Giant Franklin Templeton’s CEO Holds Bitcoin, Ether and Other Tokens in Her Portfolio: Report

Jenny Johnson, the CEO of investment manager Franklin Templeton (BEN), said in an interview with Fortune that she holds bitcoin , ether , uniswap (UNI) and sushi (SUSHI) in her portfolio.

She said the investments are “small for her overall portfolio.”

“They’re all standard: ethereum, a little bitcoin, SushiSwap, Uniswap. I have a couple of different things like that,” she said. Johnson has spoken bullishly about the prospects of blockchain technology in disrupting the financial system but referred to bitcoin as a distraction” from this.

“I can tell you, if bitcoin ever became so big that it became a threat to the U.S. dollar as the reserve currency, the U.S. would limit … the use of bitcoin,” she said at CoinDesk’s Consensus Festival in April this year. “Currencies are very important for governments … to manage their economies. They will not cede their currency to this concept of a global currency.”

Read more: Jenny Johnson Has 76-Year-Old Franklin Templeton Learning Blockchain Tricks

Johnson added that a spot bitcoin exchange-traded fund (ETF) would be a better way of gaining bitcoin exposure than direct investment.

“But I think bitcoin has some challenges. It’s hard to anchor to any kind of investment thesis,” she said .” It tends to be a risk-on/risk-off type of asset. You just want to ensure clients are responsible in allocating bitcoin.”

Franklin Templeton, which has around $1.5 trillion in assets under management, offers an OnChain U.S. Government Money Market Fund (FOBXX), supported on Stella and Ethereum layer 2 blockchain Polygon.

The firm did not immediately respond to CoinDesk’s request for further comment.

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 12/4/2023

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