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Franklin Templeton Joins XRP ETF Rush, Files Preliminary Application With SEC
The filing’s preliminary, so the SEC has up to 240 days — potentially late 2025 — to approve or deny it.
Updated Mar 12, 2025, 8:34 a.m. Published Mar 12, 2025, 8:14 a.m.
What to know:
- Franklin Templeton has filed for a Franklin XRP ETF, which aims to track the spot price of XRP minus fees, with assets held via Coinbase Custody.
- The ETF shares will be traded on the Cboe BZX Exchange, and shareholders will not benefit from XRP Ledger forks or airdrops.
Investment giant Franklin Templeton is joining a growing fray of financial asset providers hoping to offer an XRP exchange-traded fund (ETF) to the general public.
On Tuesday, the company filed for a Franklin XRP ETF, aiming to track the spot price of XRP minus fees, where assets are held via Coinbase Custody.
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Shares will trade on the Cboe BZX Exchange, with authorized participants creating/redeeming them in blocks using cash, converted to XRP via a third-party. Shareholders won’t benefit from XRP Ledger forks or airdrops.
The filing's preliminary, so the SEC has up to 240 days — potentially late 2025 — to approve or deny it. Franklin joins Bitwise, 21Shares, and others in the XRP ETF race, betting on a crypto-friendly shift.
XRP is up 4.2% in the past 24 hours, in line with a broader market recovery.
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