Franklin Templeton, a major Wall Street firm, advances its application for XRP ETF approval, following a 7% surge in XRP's price.
CBOE Pushes for XRP ETF Approval
The CBOE has submitted a 19b-4 form to the U.S. Securities and Exchange Commission on behalf of Franklin Templeton. This filing marks the second major step in the ETF approval process following the initial S-1 registration. If approved, the ETF would be traded on CBOE, with Coinbase Custody managing XRP storage.
Franklin Templeton’s Crypto Strategy
Franklin Templeton shows a growing interest in cryptocurrencies. Earlier this year, Roger Bayston, head of digital asset strategy, shared plans to expand crypto ETF offerings beyond Bitcoin and Ethereum. The focus for 2025 is diversification with ETFs linked to different cryptocurrencies.
The Future of XRP ETFs
Franklin Templeton isn't the only firm awaiting XRP ETF approval. Other major firms like Bitwise, 21Shares, Grayscale, CoinShares, and WisdomTree have also filed for similar products. Interest in alternative crypto ETFs is growing, now extending to assets like Solana, Dogecoin, Cardano, Litecoin, and Hedera.
Franklin Templeton's advancement in the XRP ETF approval process is part of a larger trend of interest in such products, potentially attracting more investors looking for safer investment options in cryptocurrencies.
