Franklin Templeton, the Billionaire Asset Manager, Highlights Bitcoin Ordinals in a Recent Note
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Franklin Templeton is a trillion-dollar asset manager that recently penned a note to its investors highlighting the impact of Bitcoin Ordinals on innovation in the crypto space.
The above is aRecent NoteFranklin Templeton Digital Assets has introduced the concept of Bitcoin-based non-fungible (NFT) tokens.
Franklin Templeton says the Bitcoin Ordinals protocol has played an important role in driving innovation and positive momentum within the Bitcoin ecosystem.
Asset managers have observed an increase in Bitcoin activity over the past year, largely due to Ordinals.
Bitcoin NFT activity is increasing
Franklin Templeton acknowledged the increasing activities in the Bitcoin NFT sector in the note.
The firm highlighted the growing dominance of Bitcoin in the NFT ecosystem. It also highlighted the increase in trading volume for Bitcoin Ordinals.
Bitcoin Ordinals trading volume has seen a surge in the past few months. This is reflected in an increase in dominance from December 2023, when it surpassed ETH trading volume.”
Franklin Templeton also highlighted several Bitcoin Ordinals collections that dominate the NFT market in terms of trading volume and market capitalization.
The Rise of Bitcoin Ordinals pic.twitter.com/nKLwwlMM4d
Franklin Templeton Digital Assets @FTI_DA April 3, 2024
While the asset manager expressed optimism about Ordinals, he emphasized the risks associated with this asset class.
Franklin Templeton warned that Ordinals could experience a drop in value and have no bank guarantee.
The note clarified that digital assets are not covered by the Federal Deposit Insurance Corporation. It also emphasized the importance of understanding the risks associated with investing in digital assets.
Franklin Templeton Resumes Crypto Offensive
Franklin Templeton is actively introducing its investors to various segments of the crypto space.
In a previous investor note, the company explored the potential of memecoins as a way to make quick profits. However, it also highlighted the lack of intrinsic value.
Franklin TempletonBitcoin ETFs are now availableBy launching an ETF for Bitcoin earlier this year.
The Franklin Bitcoin ETF, trading under the ticker symbol EZBC and designed specifically for US investors, mirrors the performance of Bitcoin.
Franklin Templeton Digital Assets is a group dedicated to research and development in the digital asset ecosystem.
Roger Bayston, head of digital assets at Franklin Templeton, said that investors continue to show interest in digital assets. They also expressed a desire for a simplified way to allocate funds to this asset class that eliminates the complexity associated with wallets and keys.
“As a company, we are well positioned to leverage our deep knowledge of the blockchain ecosystems and introduce products such as EZBC that serve to increase the understanding of digital assets among the wider investor community.”
The company recently expanded its services.Filed for a spot Ether ETFThis demonstrates the company’s commitment to pursuing investment opportunities in the crypto asset space.
