Franklin Templeton Files for XRP ETF on Cboe BZX, Joining Nine Firms in Race

Franklin Templeton, a major asset management firm with over $1.5 trillion in assets, has filed for an exchange-traded fund (ETF) that will track the spot price of XRP. The proposed Franklin XRP ETF aims to provide investors with exposure to XRP, with the fund's assets to be held by Coinbase Custody. The ETF shares are planned to be listed on the Cboe BZX Exchange and will be traded in blocks, with no benefits from XRP Ledger forks or airdrops.

The U.S. Securities and Exchange Commission (SEC) has delayed decisions on several other XRP ETF applications, including those from Grayscale, 21Shares, Bitwise, and Canary, extending the review period by 45 days. These delays are part of a broader trend of the SEC taking additional time to review multiple altcoin ETF filings, with a potential decision date set for up to 240 days from the filing date.

The filing by Franklin Templeton adds to the growing number of firms seeking to launch XRP ETFs, with a total of nine firms now in the race. This move reflects a surge in institutional interest in cryptocurrencies beyond Bitcoin, amid a more favorable regulatory environment under the Trump administration. XRP's price has risen 4.2% in the past 24 hours, and its market capitalization stands at approximately $124 billion.

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