The SEC considers Franklin's proposal for an XRP ETF a key step towards possible approval

The consideration of the Franklin XRP exchange-traded fund by the SEC comes amid growing trust from institutional investors in XRP, highlighting its increasing market maturity and accelerating progress towards cryptocurrency-backed ETFs.

The U.S. Securities and Exchange Commission (SEC) announced on June 17 that it has initiated the process of evaluating the proposed rule change by Cboe BZX Exchange Inc. regarding the listing and trading of an exchange-traded fund (ETF) called Franklin XRP ETF.

This proposed change, initially submitted on March 13, 2025, requires approval under BZX Rule 14.11(e)(4) for shares of commodity trusts. The SEC previously extended the review period on April 29, but has now begun an official investigation under Section 19(b)(2)(B) of the Securities Exchange Act of 1934.