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.