Franklin Templeton files S-1 form for XRP ETF

Key Takeaways

Franklin filed an S-1 with the SEC to launch an ETF centered on XRP.
A last resolution is predicted by October 2025 for many filings.

Franklin Templeton has filed an S-1 registration kind with the SEC for an XRP ETF, following the February registration of the Franklin XRP Belief in Delaware.

The brand new submitting with the SEC formally locations the entity amongst a rising variety of asset managers vying for an XRP ETF, together with Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree.

The proposed fund, which might commerce on the CBOE BZX Change, goals to supply buyers publicity to XRP, at present the fourth largest crypto asset by market cap. The ETF’s ticker image has but to be decided, in line with a Tuesday submitting.

Coinbase Custody would function the custodian for the fund’s XRP holdings, whereas Coinbase would act because the prime dealer. CSC Delaware Belief Firm would function trustee.

The shares could be provided repeatedly at internet asset worth, with solely licensed contributors capable of create or redeem creation items. The fund would use the CME CF XRP-Greenback Reference Charge to find out its internet asset worth.

Franklin Holdings will sponsor the fund and has agreed to pay most abnormal working bills in alternate for a sponsor’s charge. The belief is structured as an rising development firm beneath the JOBS Act.

The submitting marks the newest try to launch a spot crypto ETF following earlier Bitcoin and Ethereum ETF approvals. The SEC might want to assessment and approve the submitting earlier than the fund can start buying and selling.

The SEC acknowledged a number of XRP ETF filings in current weeks, beginning with Grayscale’s XRP ETF software on February 14, initiating a 240-day assessment interval.

This was additionally the primary time the SEC responded to a request to launch an funding product that straight holds XRP, the crypto asset that’s nonetheless beneath regulatory scrutiny as a result of SEC’s ongoing authorized battle with Ripple Labs over its classification as a safety

Different filings, together with these from WisdomTree, Canary Capital, and CoinShares, have been additionally formally accepted for assessment. These filings at the moment are within the public commentary part, which is a part of the SEC’s assessment course of.