Franklin Templeton Files for XRP ETF as SEC Reviews Multiple Proposals
Franklin Templeton has submitted a proposal for an XRP ETF, becoming the first traditional finance institution to do so. This filing adds to several others currently under review by the SEC.
- The SEC's decision on various crypto ETFs is pending, with analysts from Bloomberg Intelligence giving the highest approval odds of 90% for litecoin ETFs by year-end.
- Other cryptocurrencies have lower odds: dogecoin at 75%, solana at 70%, and XRP at 65%, largely due to ongoing legal issues between Ripple and the SEC.
- Franklin Templeton manages approximately $1.5 trillion in assets and previously launched a crypto index fund limited to BTC and ETH.
- The SEC has around seven months to make decisions on the acknowledged crypto ETF proposals.
- BlackRock remains focused on bitcoin and ethereum ETFs, with no current plans for altcoin proposals.