Franklin Templeton Joins XRP ETF Rush, Files Preliminary SEC Filing
Posted by Shaurya Malwa | Edited by: Parikshit Mishra Updated: March 12, 2025 8:34 UTC Published: March 12, 2025 8:14 UTC
Investment giant Franklin Templeton is joining a growing number of financial asset providers looking to bring an XRP exchange-traded fund (ETF) to a wider audience.
On Tuesday, the company filed to create the Franklin XRP ETF, which aims to track the spot price of XRP minus fees while the assets are held through Coinbase Custody.
The shares will be traded on the Cboe BZX exchange, and authorized participants will be able to create or redeem them in blocks using cash converted to XRP through a third party. Shareholders will not benefit from XRP Ledger forks or airdrops.
The application is preliminary, so the SEC has up to 240 days — possibly until the end of 2025 — to approve or reject it. Franklin joins Bitwise, 21Shares, and others in the race for an XRP ETF, betting on a crypto-friendly shift.
XRP has gained 4.2% over the past 24 hours, reflecting the overall market recovery.
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