🚨 New ETFs that buy bitcoin for you

Franklin Templeton filed ETFs that turn corporate dividends into bitcoin. BTC has traded below mining cost for five months. Miner capitulation is in the data. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Friday, June 19, 2026   Franklin Templeton just filed two ETFs that automatically turn corporate dividends into bitcoin — a structural demand mechanism that bypasses active allocation decisions entirely. The funds hold 95% U.S. equities and 5% bitcoin, with all dividend income reinvested into BTC exposure. It is a quiet but significant step in bitcoin’s institutionalization, arriving on a day when BTC is sliding for a fourth straight session below $63,000. Miners, meanwhile, have been underwater for five months — the longest stretch since 2022. Have a good weekend. Read today’s full report → Market snapshot As of 8:30am EST Asset Price 24h BTC $62,445 −2.89% ETH $1,685 −3.60% SOL $68.10 −4.74% XRP $1.12 −3.77% Prices approximate. Visit coindesk.com/price for live data. A message from Ledn Better Rates. Same Gold-Standard Protection Ledn has introduced their lowest rates ever. No complexity, no fine print. The larger the loan the lower the rate. These new rates apply to all new loans, refinances, and renewals. You’ll see all the rates upfront, before you apply. The new, lower rates come with Ledn’s gold standard protection. Your bitcoin remains custodied and is never lent out for interest. Perfect 8 year track record of keeping clients assets safe Auto top-up, LTV alerts, and partial repayments to keep you in control Repay whenever you want—with zero penalties or monthly payments Ledn’s perfect $11B+ track record through every market cycle in the last eight years speaks for itself. Don’t choose between a great rate and the safety of your bitcoin. Get both, at Ledn. Check out your rate by using their loan calculator at ledn.io Find out more CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. What matters today Markets   Story 1 of 3 Franklin Templeton just filed ETFs that automatically turn corporate dividends into bitcoin. Franklin Templeton filed the Franklin US Equity Bitcoin DRIP Index ETF and the Franklin US Innovation Bitcoin DRIP Index ETF with the SEC on Thursday. Both funds hold 95% U.S. equities and 5% bitcoin, with one offering broad large-cap market exposure and the other focused on growth and innovation companies. The defining feature: all dividend income collected from the equity holdings is automatically reinvested into bitcoin — via BTC ETFs, futures, or other instruments — creating a low-maintenance, self-replenishing 5% bitcoin allocation funded entirely by corporate dividends. It is a structural demand mechanism that bypasses the active allocation decision: investors don’t choose to buy more bitcoin, the dividend stream does it for them. Coming from a firm managing hundreds of billions in assets, the filing signals that Franklin Templeton views bitcoin as a permanent component of multi-asset portfolio construction rather than a tactical bet. It lands on a particularly rough day for BTC, which is down nearly 3% for a fourth consecutive session, suggesting the institutional thesis and the near-term price action are operating on completely different timescales. Read more → Markets   Story 2 of 3 Bitcoin has traded below its mining cost for five months. Miners are being squeezed. Bitcoin’s all-in mining cost — covering electricity, hardware depreciation, and overhead — is estimated at $63,000–$68,000 for most publicly listed miners. BTC has traded below that range for most of the past five months, the longest stretch of sustained below-cost prices since the 2022 bear market. The pressure is showing in the data: miners are selling BTC into the market to cover operating costs rather than accumulating, adding to sell-side pressure at exactly the wrong moment. Publicly listed miners including Riot, MARA, and Core Scientific have seen equity prices decline sharply alongside BTC. Historically, prolonged miner capitulation events — where miners are forced to sell or shut off machines — have coincided with bear market bottoms, as the weakest producers exit and hash rate temporarily drops. The current setup shows signs of that capitulation building, but analysts caution that a disorderly miner exit can also extend the drawdown before it resolves. Read more → Research | Sponsored by Gate   Story 3 of 3 Spot trading at its lowest since November 2023. Volumes fell for a fourth straight month. CoinDesk Research’s latest exchange analysis, sponsored by Gate, shows May combined spot and derivatives volumes fell 3.45% to $4.41 trillion — the lowest reading since September 2024 and the fourth consecutive monthly decline. The retreat reflects a market in which institutional capital has either rotated into AI-linked equities or is waiting on macro clarity that the hawkish Fed did not provide this week. One exception: RWA perpetual futures volumes rose 10.4% against the trend to an all-time high, underlining that tokenized real-world assets continue to attract structural demand even as broader crypto trading compresses. The volume trough combined with this week’s renewed selling pressure sets up a fragile market heading into the weekend — thin liquidity means any directional catalyst can move prices sharply before buyers or sellers have time to respond. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. Crypto Daybook Americas: A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2026 CoinDesk, All rights reserved.  CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA Unsubscribe Manage preferences