Franklin Templeton Pushes for XRP ETF Approval; Price Jumps 8%
Nidhi Kolhapur12 Mar 20253 min read
Franklin Templeton has officially filed an S-1 registration form with the SEC to launch an XRP exchange-traded fund (ETF). This comes after its earlier registration of the Franklin XRP Trust in Delaware, signaling a serious push toward bringing an XRP investment product to the market.
With Bitcoin and Ethereum ETFs already in play, all eyes are now on whether the SEC will greenlight an XRP ETF. If approved, it could open the doors for even more institutional investment in XRP, potentially shaking up the markets.
But with the SEC’s history of delays and scrutiny, will this ETF get the go-ahead? Here’s what you need to know.
The Competition Is Tough
Franklin Templeton now joins asset managers like Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree in the race to launch an XRP ETF.
If approved, the ETF will trade on the CBOE BZX Exchange, giving investors access to XRP, currently the fourth-largest cryptocurrency by market capitalization. Coinbase Custody will hold the XRP assets, with Coinbase acting as the fund’s prime broker. The ETF’s value will be based on the CME CF XRP-Dollar Reference Rate.
SEC Delays Decision on XRP ETFs
The SEC has already acknowledged multiple XRP ETF filings, starting with Grayscale’s application on February 14. This triggered a 240-day review period, with applications from WisdomTree, Canary Capital, and CoinShares also under review.
Bloomberg analysts Eric Balchunas and James Seyffart estimate a 65% chance of SEC approval for XRP ETFs in 2025. However, the agency recently delayed its decision on Grayscale’s XRP ETF, stating it needs more time to evaluate the proposal.
The SEC has also postponed decisions on other crypto spot ETFs, including VanEck’s Spot Solana ETF, Canary’s Spot Litecoin and Solana ETFs, and Grayscale’s Spot Dogecoin ETF. Investors will have to wait until May 2025 to see if these applications get approved, rejected, or further delayed.
For XRP ETFs specifically, the next deadline is May 22, 2025. This includes filings from Canary Capital, Bitwise, and Grayscale, all of which remain under review.
XRP Price Jumps
While the SEC continues its legal fight with Ripple Labs over XRP’s security status, the Franklin Templeton filing has given XRP a boost. The cryptocurrency jumped 8% in just 24 hours following the news. XRP is currently trading at $2.19, showing resilience despite recent market swings.
Crypto analyst CasiTrades notes that XRP is holding strong support, keeping its upward trend intact. As long as XRP stays above $2.04, it could continue to rise. The next major resistance levels to watch are $2.25 and $2.70.
Market Outlook
XRP’s recent surge has sparked optimism among investors, with many closely watching the SEC’s next moves. The cryptocurrency, which has more than tripled in value over the past year, is also reportedly part of President Trump’s plan for a new strategic reserve.
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With institutional giants stepping in and prices climbing, XRP’s next big breakout may be closer than it seems.
FAQs
- Bloomberg analysts estimate a 65% chance of approval, but SEC delays signal ongoing scrutiny. The next decision deadline is May 22, 2025.
