The investment giant Franklin Templeton binds to a growing confrievement of financial asset suppliers who expect to offer a fund quoted by XRP exchange (ETF) to the general public.
On Tuesday, the company requested an ETF Franklin XRP, with the aim of tracking the spot price of the XRP less, where the assets are maintained through Coinbase custody.
The actions will be negotiated in the CBOE BZX exchange, and authorized participants create/redeem into blocks with cash, converted to XRP through a third party. Shareholders will not benefit from XRP accounting forks or aircops.
The preliminary presentation, so the SEC has up to 240 days, potentially at the end of 2025, to approve or deny it. Franklin joins Bitwise, 21Shares and others in the ETF XRP career, betting on a friendly change with cryptography.
XRP increases 4.2% in the last 24 hours, in line with a broader market recovery.
