- Franklin Templeton applied for an XRP ETF from the SEC.
- In addition to other requested altcoin ETFs, it should be traded on the CBOE BZX.
Fund manager Franklin Templeton, with a TVL of $ 1.5 trillion, applied for the approval of an XRP ETF in the US stock exchange supervision SEC. The company submitted the required S-1 registration at the SEC on March 11.
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, #Grayscaleand #Wismdomtree.
https://t.co/X5IcY4GjZ6 pic.twitter.com/gJ7XUqHPS5
— Collin Brown (@CollinBrownXRP) March 12, 2025
The application is the logical consequence of Franklin Templeton in the state of Delaware, the US internal financial and tax paradise. The proposed ETF is intended to follow the performance of XRP token and investors open the way for indirect investments in cryptocurrency.
Coinbase Custody becomes a keeper of the fund XRPS, while the CSC Delaware Trust Company will be the only trustee. The trust’s cash is managed by a company that has not yet been mentioned, which also takes over the functions of the transfer office and the administrator.
XRP-ETF listing
Franklin XRP Trust intends to have its shares in the same stock exchange-the CBOE BZX-write down and act like the other emerging XRP ETF providers, including Wisdomtree, Canary Capital and 21shares. The decision shows that more institutions are considering investments in Altcoin ETFs, especially since the regulatory environment changes.
With this application, Franklin Templeton must submit a 19B-4 declaration to the SEC so that the ETF shares can be listed. The SEC then has a deadline of 240 days to approve or reject the application.
According to industry analysts, this further application supports the arguments of the ETF supporters, in particular in view of the “wax release” at the SEC, triggered by the resignation of Gary Gensler as head of the authorities. According to Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence, Franklin Templeton is just one of many Altcoin ETF application plates.
Large players jump on the Altcoin ETF train
However, Franklin Templeton is the largest asset manager who applies for an XRP ETF, others are BitWise, Grayscale and Wisdomtree. This development is further evidence of the increasing institutional demand for altcoin system products beyond Bitcoin and Ethereum.
Other current trends also show the diversification of crypto -based ETFs in terms of function and offer. Vaneck recently founded a Delaware trust for the expected first Avalanche ETF. Grayscale also made an application to register a polkadot ETF while Canary Capital has taken a similar step to register an Axelar 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
As CNF reported, the SEC now has applications For the Hedera-ETF from Grayscale and the Dogecoin ETF from BitWise, officially accepted the 240-day deadlines.
Bloomberg analysts name high probabilities for most altcoin ETFs. The highest currently applies to Litecoin with 90%, followed by Dogecoin with 75, Solana with 70 and XRP with 65 percent. These assessments show the increasing optimism for approvals of investment products associated with digital assets.
