Franklin Templeton has advanced in the race to establish an XRP ETF by filing an application with the SEC. This move aligns with initiatives from other major asset managers.
Competition Among XRP ETFs
The proposed ETF by Franklin Templeton will provide access to XRP via the CBOE BZX Exchange. Coinbase Custody will store the assets, with Coinbase as the prime broker. The new filing follows similar steps by Bitwise, Grayscale, and WisdomTree.
SEC's Delays on ETF Decisions
Recently, the SEC delayed its decision on Grayscale's XRP ETF application, stating they need more time for evaluation. Other applications, such as VanEck and Canary, are also awaiting review.
XRP's Growth Amid News
Despite regulatory uncertainty, XRP rose 8% in value over the last 24 hours. Crypto analyst CasiTrades notes strong support at $2.04, pushing the upward trend.
Events surrounding the XRP ETF and the cryptocurrency's price increase highlight significant attention from investors and analysts. Decisions on the applications are expected by May 2025.
