Franklin Templeton Files for XRP ETF, Joins Growing Race for SEC Approval
Investment powerhouse Franklin Templeton has officially entered the competition to launch an XRP exchange-traded fund (ETF), filing an application with the U.S. Securities and Exchange Commission (SEC) on Tuesday.
The proposed Franklin XRP ETF aims to mirror the spot price of XRP, minus fees, with assets securely custodied by Coinbase Custody. Shares of the fund will be listed on the Cboe BZX Exchange, with authorized participants handling creation and redemption in cash, which will be converted to XRP via a third party. However, shareholders will not be entitled to benefits from XRP Ledger forks or airdrops.
Since the filing is still in its early stages, the SEC has up to 240 days—potentially pushing a final decision to late 2025. Franklin Templeton now joins a growing list of firms, including Bitwise and 21Shares, that are positioning themselves for what many hope will be a more crypto-friendly regulatory shift in the coming months.
Following the announcement, XRP climbed 4.2% in the past 24 hours, reflecting a broader market rebound.
