Ripple: Franklin Templeton Files For XRP ETF
Franklin Templeton’s filing on Tuesday is the most recent in a series of spot cryptocurrency ETF filings by asset managers, who anticipate a more accommodating stance from the Securities and Exchange Commission under President Donald Trump’s administration.
The American investment bank plans to introduce an exchange-traded fund that will track the spot price of the cryptocurrency XRP, demonstrating asset managers’ increasing appetite for digital assets beyond Bitcoin .
Additionally, Franklin Templeton filed an ETF last month that will follow the Solana spot price. Grayscale Investments introduced a fund associated with Dogecoin earlier in January.
XRP was created by Ripple an American-based company. The token is the fourth largest cryptocurrency by market valuation, with a market valuation of about $128 billion, according to CoinGecko data.
President Trump plans to introduce a new strategic reserve including XRP in the world’s largest economy. The remittance token has more than tripled in the past year amid recent market correction.
Franklin’s XRP ETF is anticipated to debut on the Cboe BZX exchange. Coinbase is the custodian of the fund’s XRP holdings.
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