Franklin Templeton Moves to Launch XRP ETF, Registers Preliminary Application With SEC

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.