One of the world's largest asset management firms, Franklin Templeton, has officially filed an application with the US Securities and Exchange Commission (SEC) to launch an XRP-focused exchange-traded fund (ETF). The proposed Franklin XRP Trust will have its custodial services provided by Coinbase Custody Trust Company, a major player in the crypto industry.
According to the filing, the fund aims to accurately and transparently reflect XRP’s price movements for investors. It will directly invest in XRP, holding its assets through a regulated custodian to provide a secure and compliant environment for investors looking to gain exposure to the crypto market.
XRP ETF applications have been increasing recently, and Franklin Templeton's entry into the race marks a significant moment for institutional adoption. While Bitcoin and Ethereum ETFs have become more common, the growing number of XRP-focused applications suggests a maturing crypto market and rising interest from institutional investors.
This move has sparked excitement among the XRP community and investors, as all eyes are now on the SEC’s response to these filings.
