Franklin Templeton Backs BTC DeFi Push, Citing ‘New Utility’ for Investors
The post Franklin Templeton Backs BTC DeFi Push, Citing ‘New Utility’ for Investors appeared on BitcoinEthereumNews.com. As the Dubai Token2049 conference concludes, one key takeaway is that the narrative around bitcoin (BTC) is swiftly expanding beyond its traditional role as a store of value to a potential DeFi asset competing with Ethereum and Solana. Prominent industry players like Franklin Templeton view this development as a positive step, confident it will enhance bitcoin’s utility without diluting its core appeal as a store of value as purists or maximalists fear. “I don’t think focusing on Bitcoin DeFi will dilute or complicate Bitcoin’s core narrative,” Kevin Farrelly, managing principal of blockchain venture capital at Franklin Templeton and VP of Digital Assets, explained during his keynote speech at the Bitlayer side event this week. “Instead, it expands Bitcoin’s utility for a specific type of investor — one with enough technical sophistication to optimize for yield, security, or custom portfolio needs.” “These users aren’t replacing the ‘store of value’ thesis; they’re building on it,” Farrelly added. “It’s not narrative dilution, it’s infrastructure evolution.” Franklin Templeton is an investor in Bitlayer, a BitVM that serves as Bitcoin’s computational layer while preserving the mainnet’s security. It offers features such as faster transaction processing, lower fees, and new functionalities like smart contracts or advanced DeFi integrations, areas that base-layer Bitcoin alone doesn’t natively support. Franklin Templeton’s bitcoin ETF (EZBC) has registered net inflows of $260 million since its debut on Jan. 11 last year. As of May 1, the fund held 5,213 BTC, more than $500 million in assets under management at bitcoin’s current price of just above $97,000. Expanding beyond the store of value appeal Satoshi Nakamoto’s original vision for the Bitcoin blockchain was driven by creating a decentralized financial system that promotes financial sovereignty and privacy, eliminating the need for transaction intermediaries. Over a decade since its inception, however, the blockchain’s native…
The post Franklin Templeton Backs BTC DeFi Push, Citing ‘New Utility’ for Investors appeared on BitcoinEthereumNews.com.
As the Dubai Token2049 conference concludes, one key takeaway is that the narrative around bitcoin (BTC) is swiftly expanding beyond its traditional role as a store of value to a potential DeFi asset competing with Ethereum and Solana. Prominent industry players like Franklin Templeton view this development as a positive step, confident it will enhance bitcoin’s utility without diluting its core appeal as a store of value as purists or maximalists fear. “I don’t think focusing on Bitcoin DeFi will dilute or complicate Bitcoin’s core narrative,” Kevin Farrelly, managing principal of blockchain venture capital at Franklin Templeton and VP of Digital Assets, explained during his keynote speech at the Bitlayer side event this week. “Instead, it expands Bitcoin’s utility for a specific type of investor — one with enough technical sophistication to optimize for yield, security, or custom portfolio needs.” “These users aren’t replacing the ‘store of value’ thesis; they’re building on it,” Farrelly added. “It’s not narrative dilution, it’s infrastructure evolution.” Franklin Templeton is an investor in Bitlayer, a BitVM that serves as Bitcoin’s computational layer while preserving the mainnet’s security. It offers features such as faster transaction processing, lower fees, and new functionalities like smart contracts or advanced DeFi integrations, areas that base-layer Bitcoin alone doesn’t natively support. Franklin Templeton’s bitcoin ETF (EZBC) has registered net inflows of $260 million since its debut on Jan. 11 last year. As of May 1, the fund held 5,213 BTC, more than $500 million in assets under management at bitcoin’s current price of just above $97,000. Expanding beyond the store of value appeal Satoshi Nakamoto’s original vision for the Bitcoin blockchain was driven by creating a decentralized financial system that promotes financial sovereignty and privacy, eliminating the need for transaction intermediaries. Over a decade since its inception, however, the blockchain’s native…
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