The decentralized finance (DeFi) sector is going through a difficult period. DeFi tokens are leading losses this week, following the general downturn in the cryptocurrency market. But amid this slump, a major development has emerged: asset management giant Franklin Templeton has proposed innovative ETFs that would convert corporate dividends into Bitcoin. Franklin Templeton, one of the world’s largest asset managers with over $1.5 trillion in assets under management, has filed a proposal with the SEC to launch ETFs that would convert corporate dividends into Bitcoin. This novel product would allow investors to receive their dividends in the form of BTC rather than cash, marking a new step in the integration of Bitcoin into traditional finance. If approved, this initiative could create massive and recurring institutional demand for Bitcoin. Corporate dividends represent hundreds of billions of dollars each year, and even a fraction of these flows converted into BTC would have a significant impact on the market. Meanwhile, the digital credit market has been hit by a wave of massive selling. The CEO of Strive, a crypto credit platform, attributed this sell-off to broader market uncertainty and tightening liquidity conditions in the crypto lending space.
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- EU Unveils MiCA 2, Expanding Crypto Regulatory Scope to Target DeFi and Stablecoins
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