Franklin Templeton Files for XRP ETF with SEC Approval Pending
Franklin Templeton has filed for a Franklin XRP ETF to track the spot price of XRP. Key details include:
- Assets held via Coinbase Custody
- Shares will trade on Cboe BZX Exchange
- Authorized participants can create/redeem shares in blocks using cash converted to XRP
- Shareholders will not benefit from XRP Ledger forks or airdrops
- The SEC has up to 240 days to approve or deny the filing, potentially extending to late 2025
- Other companies like Bitwise and 21Shares are also pursuing XRP ETFs
- XRP increased by 4.2% in the last 24 hours