On March 12, 2025, Cboe BZX Exchange submitted a rule change application to the SEC in an effort to secure approval for Franklin Templeton's proposed XRP-based ETF.
Franklin Templeton Eyes $1.5 Trillion Market with XRP ETF
The filing from Franklin Templeton, an asset manager overseeing over $1.5 trillion, marks a significant step toward launching an XRP-based ETF. Their involvement signals a pivotal movement in the digital asset market, with Cboe BZX Exchange's role in submitting the application being crucial to potentially integrating XRP into traditional financial products.
XRP Price Rallies Amid ETF News
The latest price data indicates that XRP is trading at $2.20, experiencing a 3.52% price increase. Analysts suggest this trend aligns with previous market movements. Experts like Nate Geraci from The ETF Store highlight the potential financial implications if the ETF gains approval, pointing to successful precedents set by Bitcoin and Ethereum ETFs.
Regulatory Hurdles Loom for XRP ETF Approval
This filing follows established patterns set by earlier ETF approvals like Bitcoin, yet XRP faces regulatory challenges without a CME futures product, unlike its counterparts. Eric Balchunas emphasizes the large pool of pending approvals, while James Seyffart points to the possible influence of existing market volatility and regulatory challenges on XRP-related financial products.
Franklin Templeton’s filing for an XRP-based ETF highlights the significant role this asset plays in the digital financial product market, despite regulatory challenges ahead.
