Franklin Templeton Joins XRP ETF Battle as SEC Review Begins
Global asset manager Franklin Templeton has thrown its hat into the ring, filing for an XRP exchange-traded fund (ETF) on Tuesday, adding to the growing competition among firms looking to launch a regulated XRP investment product.
The proposed Franklin XRP ETF aims to reflect XRP’s spot market price, with Coinbase Custody safeguarding the fund’s holdings. The ETF will trade on the Cboe BZX Exchange, allowing authorized participants to create and redeem shares using cash transactions rather than direct XRP transfers. Investors should note that the ETF will not offer exposure to XRP Ledger forks or airdrops.
With the SEC granted up to 240 days for review, the final decision could be pushed to late 2025. Franklin Templeton now joins firms like Bitwise and 21Shares, all racing to be the first to launch an XRP-based ETF, banking on a potentially shifting regulatory stance toward crypto assets.
Following the news, XRP saw a 4.2% gain in the past 24 hours, in line with broader market momentum.
