Key dealers
- Franklin submitted an S-1 to Sec to launch an ETF with a focus on XRP.
- A final decision is expected in October 2025 for most applications.
Franklin Templeton has submitted a S-1 registration form With Sec for an XRP ETF, after the February registration of Franklin XRP Trust in Delaware.
The new archiving at SEC formally places the company among a growing number of asset managers striving for an XRP ETF, including Bitvis, 21 Shares, Canary Capital, Grayscale and Wisdomtree.
The proposed fund, which would shop on the CBOE BZX exchange, aims to provide investors to exposure to XRP, currently the fourth largest crypto asset with market value. ETF’s ticker symbol has not yet been established according to a Tuesday archiving.
Coinbase custody would serve as custodian for the Fund’s XRP holding, while Coinbase would serve as the main broker. CSC Delaware Trust Company would serve as a manager.
The shares would be offered continuously at net asset value, with only authorized participants who can create or redeem creation units. The fund would use CME CF XRP-dollar reference rate to determine its net asset value.
Franklin Holdings will sponsor the fund and have agreed to pay most common operating costs in exchange for a sponsors’ fee. Confidence is structured as a growth company according to the Jobs Act.
The registration marks the latest attempt to start a place Krypto ETF after previous Bitcoin and Ethereum ETF approvals. SEC will need to review and approve the application before the fund can start shopping.
SEC recognized several XRP ETF applications in recent weeks, starting with Grayscales XRP ETF application on February 14, and began a 240-day review period.
This was also the first time the SEC responded to a request to start an investment product that directly holds XRP, the crypto supply that is still under regulation of review due to SEC’s ongoing legal struggle with Ripple Labs over its classification as security
Other applications, including those from Wisomtree, Canary Capital and Coinshares, were also formally accepted for review. These applications are now in the public comment phase, which is part of the SEC review process.
