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. UTCPublished Mar 12, 2025, 8:14 a.m. UTC
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.
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.
Shaurya Malwa
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis. Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM, BANANA, ROME, BURGER, SPIRIT, and ORCA. He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.