Key Takeaways
- Franklin Templeton has filed for an XRP-focused ETF with the SEC.
- The proposed XRP ETF goals to trace the token’s value efficiency and can commerce on the CBOE BZX Alternate.
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The Chicago Board Choices BZX Alternate (CBOE) has submitted a 19b-4 type on behalf of Franklin Templeton, proposing a rule change to checklist and commerce shares of the Franklin XRP ETF within the US.
The submitting got here shortly after Franklin filed an S-1 registration type with the SEC for its proposed funding product targeted on XRP, the fourth-largest crypto asset by market capitalization. The digital asset surged 2% to $2.3 after the SEC submitting surfaced, in keeping with CoinGecko information.
The main asset supervisor, overseeing $1.6 trillion in shopper belongings, has joined a rising checklist of main corporations in search of approval for ETFs tied to crypto belongings past Bitcoin and Ethereum.
The proposed Franklin XRP ETF will commerce on the CBOE BZX Alternate with Coinbase Custody serving because the custodian for its XRP holdings. The fund goals to trace XRP’s value efficiency, providing buyers publicity to the digital asset with out requiring direct custody.
The submitting follows Franklin Templeton’s current growth into crypto ETFs, together with a Solana ETF submitting and beforehand launched spot Bitcoin and Ethereum ETFs. Different corporations awaiting regulatory approval for XRP ETF proposals embody Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree.
ETF analyst James Seyffart famous that whereas delays are commonplace process, there are “comparatively excessive odds of approval” for these altcoin ETFs by October 2025.
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