Franklin Templeton has filed the form S-1 with the United States Securities and Exchange Commission (SEC) to issue its ETF on XRP.
XRP ETF: Franklin Templeton’s application after the one on Solana
Franklin Templeton, the asset manager, has filed the form S-1 with the United States Securities and Exchange Commission (SEC) to issue its ETF on XRP.
The Exchange-Traded Fund by Franklin, which tracks the crypto Ripple (XRP), will be listed on the Cboe BZX Exchange.
This new request from the asset manager comes after last month it would have submitted its proposal to the SEC to launch an ETF on Solana (SOL), which includes staking activities.
Just as it happened with the ETF on SOL, also with this ETF on XRP, the company has chosen Coinbase as the custodian of the Exchange-Traded Fund.
Not only that, Franklin Templeton had previously announced also the launch of EZPZ, which is its ETF Index. It is an ETF that offers simultaneous exposure to Bitcoin (BTC) and Ethereum (ETH).
The asset manager already manages EZBC, the Franklin Bitcoin ETF, and EZET, the Franklin Ethereum ETF.
ETF on XRP: Ripple among the crypto nominated by Trump for the USA Strategic Reserve
The choice of Ripple by Franklin Templeton for its new ETF on XRP, comes after the US SEC continues to acknowledge the various requests.
In fact, with the current Trump Administration leading the USA, the SEC has completely changed its approach towards cryptocurrencies.
In the case of XRP ETFs, the SEC would have acknowledged the requests from WisdomTree, Bitwise, 21Shares, Canary Capital, and NYSE Arca.
Last month, the banking giant JPMorgan stated that in the coming months all these requests will be accepted and therefore ETFs on XRP will be launched on US exchanges.
Not only that, in these weeks XRP has been discussed also because the same President of the USA, Donald Trump, would have involved the crypto among those chosen for the country’s strategic reserve.
In fact, on March 2, Trump would have shared a post on Truth where he announced the new executive order to establish the strategic crypto reserve for the USA. At the same time, Trump wrote that this reserve should include Ripple (XRP), Solana (SOL), and Cardano (ADA), as well as Bitcoin (BTC) and Ethereum (ETH).
The price of Ripple (XRP)
The news of the new application for an XRP ETF by Franklin Templeton seems to have been welcomed and appreciated by investors.
The price of XRP is in a pump of +3.5% compared to 24 hours ago but is still in a dump of -11% compared to seven days ago.
At the time of writing, XRP is worth $2.15, far from its ATH of $3.25 recorded in mid-January of this year.
At the same time, XRP remains above the $2 mark, a price that for years was a mirage for the crypto, especially due to its endless lawsuit against the SEC of the USA.
