While much has been made of spot bitcoin ETF trading volumes and the net inflow of fresh capital after they were approved and began trading earlier this month, the lion’s share of buying and selling has been spread over a select few of those instruments.

Franklin Templeton's spot bitcoin ETF has, so far, not been part of that elite group of products offered by BlackRock, Fidelity and Grayscale, the three of which have accounted for about 90% of total trading volume. But the Wall Street firm, which was founded in 1947, remains confident that its spot bitcoin ETF product will become popular among financial advisors and investors.

"It’s just a matter of time … as education moves forward about how these assets complement and help deliver potentially better long-term solutions alongside of …