Franklin Templeton’s recent filing for a spot bitcoin ETF has led industry observers to speculate on which traditional finance firm could be the next to enter the bitcoin ETF race. Schwab Asset Management and State Street Global Advisors are named as potential candidates, although they have not confirmed their plans. Ric Edelman, founder of Edelman Financial Engines, believes that more large companies will follow, as the demand for bitcoin ETFs continues to grow. However, Matthew Sigel, head of digital assets research at VanEck, expresses skepticism about the attractiveness of entering the bitcoin ETF market due to regulatory challenges and potential fee competition. While some companies may not offer crypto funds due to brand consistency, Edelman believes that most registered investment advisers and brokerage firms will eventually provide spot bitcoin ETFs. The SEC’s reluctance to approve previous applications has hindered the launch of bitcoin ETFs, but there is optimism that this may change in the near future. Vanguard, JPMorgan, and other firms have not shown any interest in entering the space thus far.
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