Franklin Templeton Seeks XRP ETF Approval, Files Initial Application With SEC

Franklin Templeton Enters XRP ETF Race, SEC Decision Could Stretch Into Late 2025

Franklin Templeton has officially joined the growing number of asset managers seeking to launch an XRP exchange-traded fund (ETF), submitting its application to the U.S. Securities and Exchange Commission (SEC) on Tuesday.

The proposed Franklin XRP ETF would be designed to track the price of XRP, with Coinbase Custody acting as the fund’s custodian. Shares would trade on the Cboe BZX Exchange, with authorized participants handling cash-based creation and redemption—meaning XRP would be acquired via a third-party conversion process. Investors, however, would not receive benefits from XRP Ledger forks or airdrops.

Given that the SEC has up to 240 days to review the filing, a decision may not come until late 2025, making this a long-term regulatory battle. Franklin Templeton now joins firms like Bitwise and 21Shares in the race to bring an XRP ETF to market, as optimism grows around potentially favorable regulatory changes in the future.

XRP responded positively to the news, climbing 4.2% over the past 24 hours, in line with broader crypto market gains.