One of many world’s largest asset managers, Franklin Templeton, is planning to launch an ETF that can observe the spot value of the Ripple cross-border cost token XRP.
The agency made a preliminary prospectus submitting for the product with the Securities and Alternate Fee on March 11.
The submitting is the most recent in a slew of spot altcoin ETF functions by asset managers, who anticipate a extra receptive strategy from the SEC through the Trump administration.
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— Brad Garlinghouse (@bgarlinghouse) March 11, 2025
17 XRP ETF Filings
Franklin’s XRP ETF is ready for itemizing on the Cboe BZX Alternate whereas Coinbase has been appointed because the custodian for the fund’s holdings. In February, Franklin Templeton additionally filed for an ETF that can observe the spot value of Solana (SOL).
On March 7, Volatility Shares filed three XRP ETF functions: one for a straight spot fund, one for a 2x leveraged XRP fund, and one for a -1x XRP ETF.
There are actually 17 XRP ETF filings pending a response from the US securities regulator. They embrace issuers Bitwise, Grayscale, 21Shares, WisdomTree, Canary Capital, CoinShares, Invesco, VanEck, Constancy, Ark Make investments, Galaxy Digital, ProShares, Hashdex, and Volatility Shares.
XRP made a minor restoration, gaining 4% over the previous 24 hours to succeed in $2.15 on the time of writing, although it stays down 13% over the previous week.
In associated information, Bitwise launched an ETF holding shares of firms with massive Bitcoin treasuries on March 11.
The Bitwise Bitcoin Normal Firms ETF (OWNB) “seeks to trace the Bitwise Bitcoin Normal Firms Index, a brand new fairness index of firms with a minimum of 1,000 Bitcoin of their company treasuries,” the agency said.
At launch, the highest 5 holdings of the index have been Technique 21%, MARA Holdings 12%, CleanSpark simply over 6%, Riot Platforms 6%, and Boyaa Interactive just below 6%.
In the meantime, Cboe BZX is searching for permission from the SEC to include staking into Constancy’s ETH ETF, in keeping with a March 11 19b-4 rule change submitting.
SEC Delays Altcoin ETFs
It has been a busy week for crypto ETFs because the SEC issued a discover on Tuesday extending the evaluation interval for NYSE Arca’s proposed rule change to record and commerce shares of the Grayscale XRP Belief to Could 21.
The regulator additionally pushed again approvals for the VanEck Spot Solana ETF, Canary Spot Litecoin ETF, Canary Spot Solana ETF, Canary Spot XRP ETF, and Grayscale Spot Dogecoin ETF.
Issuers now have to attend till Could, the brand new deadline for the SEC to both approve, reject, or delay the method.
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