TLDR
- Franklin Templeton’s XRP ETF (XRPZ) listed on DTCC, signaling preparations for possible market debut.
- Franklin Templeton filed an amended S-1 for its XRP ETF with an automatic provision.
- The ETF, if approved, will track XRP’s market performance and list on the Cboe BZX Exchange.
- Franklin Templeton’s broader crypto strategy includes Bitcoin, Ethereum ETFs and tokenized funds.
- REX-Osprey and Hashdex XRP ETFs show strong AUM growth, signaling increased XRP ETF interest.
Franklin Templeton proposed The XRP Exchange-Traded Fund (ETF), designated as XRPZ, has been added to the Depository Trust & Clearing Corporation (DTCC) website. This development signals that preparations are underway for the potential launch of the ETF.
Amended filing with the SEC
Earlier this week, Franklin Templeton filed an amended Form S-1 for its XRP ETF. This filing contains an “8(a)” provision, which allows the registration to become effective automatically after 20 days unless the US Securities and Exchange Commission (SEC) intervenes. This provision has been used by other new crypto-related ETFs, such as those for Solana and Litecoin.
According to the updated filing, the Franklin XRP Trust will primarily hold XRP tokens and track the asset’s market performance. If approved, the ETF will be listed on the Cboe BZX Exchange. This move is in line with Franklin Templeton’s broader crypto strategy.
The firm, which manages over $1.5 trillion in assets globally, has already launched Bitcoin and Ethereum spot ETFs. In addition, the company has expanded its crypto offerings into tokenized assets. Notably, it introduced Hong Kong’s first tokenized money market fund earlier this year, in partnership with HSBC and OSL Group.
Similar ETF strategies in the market
Franklin Templeton’s approach follows a trend seen with other crypto-related ETFs, such as the Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs. These funds were successfully listed with similar automatic-effect language, avoiding delays in the agency’s approval process.
Notably, the Bitwise BSOL ETF reached an impressive $56 million in first-day trading volume, marking a strong debut for such funds. Outside of the proposed Franklin Templeton ETFs, other XRP ETFs have also seen significant activity.
The REX-Osprey XRP ETFwhich launched in mid-September, surpassed $100 million in assets under management (AUM) within five weeks. In addition, the Hashdex Nasdaq XRP ETF, listed in Brazil, has accumulated approximately 7.17 billion Brazilian reais in assets.
