Edgen AI operates independently of, and is not controlled by Aspen Digital Financial Limited.
PortfolioInvestment Ideas
Personal
Agentic Execution
Aura Leaderboard
Rebate
Edgen Crypto·Jul 22 2026, 15:21
**The $1.78 trillion asset manager wants to let equity investors automatically convert their stock dividends into Bitcoin through two new exchange-traded funds.** Franklin Templeton filed regulatory applications June 18 for two exchange-traded funds that automatically convert stock dividends into Bitcoin, creating a hybrid product linking traditional equity income to cryptocurrency accumulation. "The funds will rebalance quarterly to maintain a 95/5 equity-to-Bitcoin split, with an interim cap of 20% on Bitcoin exposure between rebalancing dates," the filing with the Securities and Exchange Commission shows. The Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF each hold 95% large-cap US equities and 5% Bitcoin. Every quarter, dividend income from the equity sleeve gets reinvested into BTC. The $1.78 trillion asset manager already runs EZBC, its spot Bitcoin ETF, which held roughly $359 million in assets under management as of mid-June 2026. The product targets equity investors who might never buy a standalone crypto product, channeling billions in potential dividend flows into Bitcoin through a mechanism — dividend reinvestment — that millions of Americans already use. The filing positions Franklin Templeton as the most aggressive traditional finance player in the crypto ETF space, potentially pressuring rivals BlackRock and Fidelity to develop similar products. Franklin Templeton acquired 250 Digital Asset Management in April 2026, bringing in specialized crypto talent and infrastructure. That acquisition led to the creation of the Franklin Crypto unit, now headed by Christopher Perkins. Roger Bayston, a senior executive at the firm, suggested in January 2026 that stablecoins are likely to replace Bitcoin in its original role as a value transfer mechanism, indicating the firm views Bitcoin less as digital cash and more as a store-of-value asset — a philosophy embedded in the DRIP ETF structure. The quarterly rebalancing mechanism means the fund will systematically sell Bitcoin when it outperforms and buy more when it underperforms, a form of mean reversion that could drag on returns during sustained bull markets. The 20% interim cap adds another layer of complexity, and the tax implications of converting dividend income into a volatile asset could create complications for taxable accounts. The 95/5 allocation means investors pay an ETF expense ratio on a portfolio that is overwhelmingly equities. But the product's core innovation is bringing Bitcoin exposure to people who would never seek it out themselves, using a reinvestment mechanism already familiar to millions of American investors. This article is for informational purposes only and does not constitute investment advice.
**Bitcoin's on-chain structure has shifted: the largest hidden support level in history now underpins a technical path toward $84,569.** Bitcoin rose 2.1% to $65,933 on July 23, recovering a 13% decline from early July as on-chain data revealed a 1.3 million BTC support level — the largest in history. The URPD (UTXO Realized Price Distribution) metric recorded sweeping absorption of supply at the $65,000-$65,500 zone, forming a support cluster of 1.3 million coins, according to Glassnode data. Spot Bitcoin ETFs extended their inflow streak to six consecutive sessions, attracting $203.1 million on Tuesday and nearly $930 million over the run, SoSoValue data shows. The renewed accumulation coincided with the Crypto Fear & Greed Index improving from "Extreme Fear" to "Fear." Bitcoin's perpetual futures funding rate held at a neutral 8% annualized, flat from a week earlier, while the 30-day options delta skew narrowed to 13% from 19% — still signaling hedging demand but at reduced levels, per Laevitas. The formation of a 1.3 million BTC support zone creates a technical runway from $65,500 toward the next major resistance at $70,920, according to analyst Ali Martinez. A decisive break above that level would open the path toward $84,569 — a price target derived from the URPD structure's implied upside. Failure to hold $65,000, however, would expose the $60,000 region and strengthen the case for a later cycle bottom, as Grayscale Research recently cautioned. The bullish on-chain setup comes as Bitcoin shows signs of decoupling from traditional markets. While the tech-heavy Nasdaq-100 Index dropped below 28,800 on July 19 for the first time in five weeks, Bitcoin held above $64,000 and pushed higher through the weekend. Strategy, the corporate Bitcoin holder formerly known as MicroStrategy, raised $263 million in cash through a stock sale, easing concerns about potential sell pressure from its $1.76 billion annual dividend obligation. The company's cash reserves now stand at $3.22 billion, according to its latest filing. This article is for informational purposes only and does not constitute investment advice.
Ripple launched Ripple Mint, an institutional platform enabling automated minting, redemption, bridging and transaction management for its RLUSD stablecoin through API access, the company said July 23. "Ripple Mint simplifies how institutions bring fiat currency onchain," the company said in its announcement. The platform lets clients mint, redeem, hold and transfer RLUSD without building separate blockchain infrastructure. The platform includes Wallet-as-a-Service functionality, allowing institutions to use Ripple-managed wallets or connect existing wallets for stablecoin operations. Ripple Mint supports dual-approval workflows, audit logs, secure passkeys and transfer allow lists designed for enterprise compliance, according to the company. The platform is designed for treasury management, payment settlement and liquidity operations. The launch positions Ripple to compete directly with Visa's Stablecoin Platform, which debuted July 16 with support for Open USD, and with established issuers Circle and Tether in the institutional stablecoin market. Ripple is targeting a $1 billion revenue run rate in 2026, according to investor documents from its November 2025 funding round. RLUSD is a regulated stablecoin issued by Ripple, backed by cash and cash-equivalent reserves. The token operates on the XRP Ledger and is designed for payment settlement, treasury management and liquidity operations. Stablecoins represent a bridge between traditional finance and blockchain-based payments, allowing institutions to settle transactions in digital dollars without relying on correspondent banking rails. The stablecoin has been gaining adoption across the crypto sector. Bybit launched an RLUSD Hold & Earn rewards campaign on July 20, offering yield on the stablecoin. Ripple Prime, the company's institutional prime brokerage unit formed through the $1.25 billion acquisition of Hidden Road in 2025, was shortlisted in four categories at the Hedgeweek US Awards 2026, including Prime Broker of the Year: Specialist Markets and Prime Broker of the Year: Technology. The Ripple Mint launch follows a period of sustained institutional demand for Ripple exposure. A U.S. Bankruptcy Court approved Linqto's sale of approximately $130 million in Ripple common shares to four institutional buyers on July 20, with Galaxy Digital anchoring the transaction at $60 million and Arrington Capital at $50 million. Ripple waived its right of first refusal on the Galaxy block, clearing the transaction without requiring co-sale adjustments. XRP traded at $1.13 on July 20, up nearly 4% on the day, clearing the $1.10 resistance level with daily volume reaching $1.29 billion, according to CoinGecko data. The price move coincided with the Linqto court approval and the Bybit RLUSD campaign launch. **Competitive Dynamics** The stablecoin market has drawn increasing attention from traditional payments infrastructure providers. Visa's Stablecoin Platform, launched July 16, supports Open USD and includes Wallet-as-a-Service features similar to Ripple Mint. Visa's platform is in beta testing with select clients, the company said. Jack Forestell, Visa's chief product and strategy officer, said stablecoins represent a new form of programmable money but noted that operational complexity remains a major challenge for institutional adoption. Ripple Mint's API-first approach targets institutional treasury teams seeking programmable payment infrastructure. The platform operates on the XRP Ledger, giving clients access to the blockchain's native settlement capabilities. Unlike Visa's platform, which centers on a single stablecoin partner, Ripple Mint is built around Ripple's own RLUSD token, giving the company greater control over the product roadmap and fee structure. Tether's USDT and Circle's USDC remain the dominant stablecoin issuers, with a combined market capitalization exceeding $150 billion. Ripple's entry with RLUSD and the Ripple Mint platform represents a bid to capture institutional flows that have traditionally favored USDC for regulated use cases. The company's ability to integrate minting, redemption and settlement within a single API environment could reduce friction for institutional clients seeking to deploy stablecoins at scale. This article is for informational purposes only and does not constitute investment advice.
