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Franklin Templeton CEO says firm will take part in SpaceX IPO

Franklin Templeton CEO says firm will take part in SpaceX IPO

As SpaceX’s expected Nasdaq listing draws broader investor attention, Franklin Templeton confirmed participation while Oppenheimer initiated coverage with an outperform rating and $190 target.

Fact Check
The core claim is directly confirmed by a Reuters wire report (carried by The Star and TradingView/Refinitiv), which states Franklin Templeton CEO Jenny Johnson told CNBC the firm will participate in SpaceX's IPO. Crypto Briefing independently corroborates the same statement. The crypto-expansion framing in the claim summary is secondary editorial context rather than part of the CEO's statement, but the central assertion is well supported by multiple sources tracing to the same primary CNBC/Reuters reporting.
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Summary

Franklin Templeton CEO Jenny Johnson said the asset manager will participate in the expected SpaceX IPO, adding to signs of institutional interest in the company and the wider space sector. Ahead of the anticipated Nasdaq debut, Oppenheimer initiated coverage with an outperform rating and a $190 price target, citing Starlink’s potential to disrupt the U.S. communications market. BlockBeats reported on June 11 that SpaceX is nearing an IPO at an expected valuation of about $175 billion, or roughly 52 times sales, while space-focused ETFs rose the same day. The development also comes as Franklin Templeton expands its digital-asset efforts, including previously disclosed plans for a “Franklin Crypto” unit aimed at pension funds and sovereign wealth funds.

Terms & Concepts
  • IPO: Initial public offering of shares.
  • Starlink: SpaceX’s satellite-based broadband service.
  • ETF: Exchange-traded fund that tracks a basket of assets or securities.