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Crypto-exposed stocks gapped up in Tuesday morning trading as bitcoin (BTC-USD) rebounded from a correction to the lowest level since mid-June.

MicroStrategy (NASDAQ:MSTR), which holds over 150K bitcoins (BTC-USD), saw its stock advance 3.4%, and Coinbase Global (NASDAQ:COIN), the largest crypto exchange in the U.S. by trading volume, gained 3.5%. BTC miners also changed hands in the green, including Riot Platforms (NASDAQ:RIOT) +5.3%, Marathon Digital Holdings (NASDAQ:MARA) +2.4%, Bitfarms (NASDAQ:BITF) +9.6%, Bit Digital (NASDAQ:BTBT) +11.8% and Greenidge Generation (NASDAQ:GREE) +6.2%.

The price action comes as bitcoin (BTC-USD) has rebounded from a pullback that temporarily sent it below $25K on Monday in the wake of volatility and trading volumes, and a lack of major catalysts. The first-ever crypto bounced 4% to $26.1K at 10:56 a.m. ET.

Perhaps one of the factors driving the bullish price action is financial heavyweight Franklin Templeton (NYSE:BEN) filing for an exchange-traded fund that invests directly in bitcoin (BTC-USD), making it the latest traditional asset manager to join the race to be first to market a spot BTC ETF.

The proposed spot bitcoin ETF would be Coinbase-custodied and would trade on Cboe BZX Exchange, according to an SEC filing. This is a notable move as it marks the first time BEN has filed for such a product, which would give retail investors an easy way to gain exposure to bitcoin (BTC-USD) in their brokerage accounts.

The stock market, meantime, is dipping as investors brace for Wednesday's data on consumer price inflation.

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MicroStrategy, other crypto-linked stocks gap up as bitcoin rebounds ... - Seeking Alpha