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- Franklin Templeton has filed for an XRP ETF with the SEC.
- The ETF shares will trade on the Cboe BZX exchange alongside other proposed altcoin ETFs.
Franklin Templeton, an investment management company managing over $1.5 trillion in assets, has filed to launch an XRP exchange-traded fund (ETF) in the United States. The firm filed an S-1 registration with the U.S. Securities and Exchange Commission (SEC) on March 11, marking a key point on the way to an XRP ETF.
🚨 Breaking #Ripple News: Franklin Templeton Files S-1 for XRP ETF with US SEC 🚨
Franklin Templeton joins the race for an #XRP ETF, following other major firms like #Bitwise, #Grayscale, and #WisdomTree. 🚀🚀🚀https://t.co/X5IcY4GjZ6 pic.twitter.com/gJ7XUqHPS5
— Collin Brown (@CollinBrownXRP) March 12, 2025
This comes on the heels of Franklin Templeton creating an XRP Trust in Delaware. The proposed ETF intends to emulate the performance of XRP tokens and open the path for investors to indirectly invest in the cryptocurrency.
Coinbase Custody will be the custodian of the fund’s XRP, while CSC Delaware Trust Company is the sole trustee. The trust’s cash shall be managed by an unnamed entity that will also perform the functions of the transfer agent and the administrator.
XRP ETF Listing
Franklin Xrp Trust intends to have its shares listed and traded on the same Cboe BZX exchange as the other aspiring XRP ETF providers, including Wisdomtree, Canary Capital, and 21Shares. The decision shows that more institutions are considering investing in altcoin ETFs, especially as the regulatory environment changes.
Ripple CEO Brad Garlinghouse confirmed the deposition with a simple reply in his X account, where he posted an eye icon as a reaction to the news. Nate Geraci, the president of The ETF Store, also chimed in, noting that Franklin Templeton is an influential company in the financial world.
With this submission, Franklin Templeton needs Cboe to file a 19b-4 with the SEC so that it can list the ETF shares. The SEC then takes up to 240 days to either approve or disapprove the application.
Industry analysts said that this filing would further support the pro-ETF arguments, especially because of the SEC’s recent changes of guard and Gary Gensler’s resignation. According to Bloomberg Intelligence Senior ETF Analyst Eric Balchunas, Franklin Templeton is just part of a wave of altcoin ETF filings.
Big Players Jump on the Altcoin ETF Bandwagon
Franklin Templeton is now the biggest asset manager to file for an XRP ETF after others such as Bitwise, Grayscale and WisdomTree. This development is further evidence of increasing institutional demand for altcoin investment products beyond just Bitcoin and Ethereum.
Other current trends also demonstrate the diversification of crypto-based ETFs in function and offering. VanEck recently incorporated a Delaware trust for what is expected to be the first Avalanche (AVAX) ETF. Grayscale has also submitted an application to register a Polkadot (DOT) ETF, while Canary Capital has made a similar move to register an Axelar (AXL) ETF.
CANARY has filed an S-1 registration statement for the AXL ETF. The trust will offer institutional investors exposure to blockchain interoperability technologies, encompassing Web3 ecosystems such as XRP Ledger, Hedera, Stellar, TON, Sui, Solana, and Bitcoin.…
— Wu Blockchain (@WuBlockchain) March 5, 2025
However, as CNF noted, the SEC has acknowledged filings for Grayscale’s Hedera (HBAR) ETF and Bitwise’s Dogecoin (DOGE) ETF.
Bloomberg analysts have forecasted high approval rates for the majority of the altcoin ETFs. Currently, the highest is Litecoin at 90 %, then Dogecoin at 75 %, Solana at 70 %, and XRP at 65 %. Such estimates pointed to the rising optimism of increased approval of digital asset investment products.
