FRANKLIN TEMPLETON SUBMITS REQUEST TO THE SEC FOR AN XRP ETF!

Franklin Templeton, one of the leading asset management companies, asked the SEC to create an XRP ETF. This novelty may represent a crucial moment for XRP, which is on the rise in the cryptocurrency market.

Franklin Templeton targets the market in full XRP ETF turmoil

Franklin Templeton submitted this week an application for registration for a exchange-traded fund, the "Franklin XRP ETF". The goal is to track the cash price of the XRP, deducting the fees. The assets will be held through the custody of Coinbase Custody, a recognized entity in the industry.

The shares of this ETF should be listed on Cboe BZX Exchange. However, unlike other similar products, shareholders will not be entitled to forks or airdrops of the XRP Ledger network.

A potentially long and uncertain approval process

Although the application has been submitted, it will be necessary to wait for a decision from the SEC, the American stock exchange authority. It has up to 240 days, potentially until the end of 2025, to approve or reject this request.

Franklin Templeton joins other companies such as Bitwise or 21Shares in the XRP ETF race, betting on a relaxation of crypto regulation in the United States. However, the path to final approval remains uncertain, especially in the face of the ongoing legal challenges around XRP.

A new step in the adoption of XRP?

This announcement from Franklin Templeton illustrates the growing interest in crypto-derivative products, despite regulatory turbulence. If the ETF is launched, it can promote greater accessibility of XRP for institutional and retail investors.

However, investors should remain attentive to future developments, both in regulatory terms and in the dynamics of the XRP market. As always in the volatile universe of cryptocurrencies, prudence is essential. #FranklinTempleton $XRP