Franklin Templeton, a major asset manager overseeing over $1.58 trillion, files for an XRP ETF, potentially impacting the market.
Filing for XRP ETF
Recently, Franklin Templeton submitted an S-1 registration to the U.S. Securities and Exchange Commission. This move follows the earlier registration of an XRP Trust in Delaware. The institution has chosen Coinbase Custody as the custodian for its XRP holdings, with CSC Delaware Trust Company serving as the sole trustee.
Ripple CEO's Reaction
The news of Franklin Templeton's filing elicited a response from Ripple CEO Brad Garlinghouse, who expressed his reaction through an emoji on the X platform, creating excitement in the XRP community.
Impact and Prospects
With the application filed, the next step involves Cboe submitting a 19b-4 form to U.S. regulators. However, the ongoing SEC vs. Ripple lawsuit creates regulatory uncertainty for the approval process.
Franklin Templeton's filing opens new prospects for an XRP ETF, but legal issues still leave the market uncertain.
