Franklin Templeton Joins XRP ETF Rush, Files Preliminary Application With SEC

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🚨 Franklin Templeton Joins XRP ETF Frenzy! 🚨

Franklin Templeton Joins XRP ETF Rush, Files Preliminary Application With SEC

What to know, darling:

  • Franklin Templeton has filed for a Franklin XRP ETF, which aims to track the spot price of XRP minus fees, with assets held via Coinbase Custody. One wonders, will they be able to keep up with the XRP Ledger’s, ahem, lively schedule?
  • The ETF shares will be traded on the Cboe BZX Exchange, and shareholders will not benefit from XRP Ledger forks or airdrops. Oh, the humanity!

Investment giant Franklin Templeton is joining the ranks of those hoping to offer an XRP exchange-traded fund (ETF) to the general public. One can almost hear the sound of champagne corks popping in the boardroom.

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. Because, of course, who needs actual XRP when you can have a clever financial instrument?

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. One can only imagine the thrilling world of high finance at play here.

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. One can almost smell the desperation in the air.

XRP is up 4.2% in the past 24 hours, in line with a broader market recovery. Ah, the joys of investing in something that may or may not exist in a few years.

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2025-03-12 11:22