Franklin Templeton Enters XRP ETF Race, Eyes SEC Approval
Franklin Templeton has officially joined the XRP ETF battle, filing an application on Tuesday to launch a fund that would track the real-time price of XRP.
The proposed Franklin XRP ETF would be backed by Coinbase Custody, with shares set to trade on the Cboe BZX Exchange. The fund would operate on a cash creation/redemption model, meaning investors would buy and sell shares using fiat, which would then be converted into XRP through a third-party provider. However, the ETF won’t grant exposure to XRP Ledger forks or airdrops.
With the SEC given up to 240 days to decide, a final ruling could extend into late 2025. Franklin Templeton’s entry into the race puts it alongside major players like Bitwise and 21Shares, reflecting a growing push to bring regulated XRP investment products to market.
In response to the filing, XRP climbed 4.2% over the past 24 hours, mirroring the broader crypto market’s rebound.
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