Franklin Templeton Files for XRP ETF as Firms Race for Regulatory Green Light

Franklin Templeton has become the latest financial giant to file for an XRP exchange-traded fund (ETF), adding to the growing list of firms aiming to bring crypto investment products to traditional markets.

The proposed Franklin XRP ETF would mirror XRP’s spot price, with Coinbase Custody serving as the custodian for the fund’s holdings. Shares of the ETF would be listed on the Cboe BZX Exchange, with authorized participants creating and redeeming shares through cash-based transactions, converting fiat to XRP through a third-party provider. However, investors would not be entitled to any airdrops or forks from the XRP Ledger.

The SEC now has up to 240 days to approve or deny the application, meaning a final decision could come as late as the end of 2025. Franklin Templeton joins competitors like Bitwise and 21Shares, all vying to be the first to launch an XRP ETF amid shifting regulatory sentiment.

Following the filing, XRP gained 4.2% in the past 24 hours, keeping pace with the broader crypto market recovery.