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Franklin Templeton takes a significant step forward in the cryptocurrency market by filing an S-1 registration form with the SEC for launching an XRP ETF. This move positions them alongside Bitwise Grayscale and WisdomTree in the race to enhance investor access to XRP now ranked fourth in market capitalization.
The upcoming ETF listed under the CBOE BZX Exchange aims to provide a straightforward pathway for investors to tap into XRP. Assets will be securely held by Coinbase Custody with Coinbase serving as the prime broker and the fund’s value pegged to the CME CF XRP-Dollar Reference Rate.
With the SEC’s ongoing review process which spans 240 days Franklin Templeton joins other contenders eagerly awaiting approval. This follows the SEC’s green light on Bitcoin and Ethereum ETFs intensifying competition among top firms to dominate the burgeoning crypto ETF space.
