ChainCatcher, citing Solid Intel, reported that asset manager Franklin Templeton has submitted an application for a new type of exchange-traded fund to regulators. The proposed product structure would allow cash dividends generated by the stocks held by the fund to be automatically reinvested into Bitcoin.
The disclosed detail centers on how the ETF would handle dividends from its stock holdings. Instead of treating those cash dividends as a separate distribution within the described structure, the filing outlines an automatic reinvestment mechanism that directs them into Bitcoin. The report identifies Franklin Templeton as the applicant and describes the submission as a regulatory filing for a new ETF design.
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