Crypto News: Franklin Templeton Files for XRP Spot ETF Amid Growing Institutional Interest

Key Takeaways:Franklin Templeton files for a Franklin XRP ETF, aiming to track XRP’s spot price with custody via Coinbase.ETF shares will trade on the Cboe BZX Exchange, with no benefits from XRP Ledger forks or airdrops.SEC has up to 240 days (potentially late 2025) to approve or reject the filing.XRP surges 4.2% following the announcement, aligning with a broader market rebound.Institutional Interest in XRP ETFs Gains MomentumFranklin Templeton, a global investment management firm, has officially entered the XRP ETF race with a preliminary SEC filing. The proposed ETF aims to:- Track XRP’s spot market price, minus fees.- Hold assets via Coinbase Custody, ensuring secure storage.- Trade on the Cboe BZX Exchange, offering institutional exposure to XRP.Notably, ETF shareholders will not receive benefits from XRP Ledger forks or airdrops—a standard practice in crypto ETFs.SEC Review Timeline & Market ImpactThe SEC now has up to 240 days to evaluate Franklin Templeton’s application, pushing the final decision to late 2025.Franklin joins Bitwise, 21Shares, and other firms betting on a shifting regulatory landscape in favor of crypto ETFs. The filing comes amid rising institutional demand for diversified crypto investment vehicles.XRP’s 4.2% price jump in the past 24 hours signals a positive market reaction to the news, reflecting growing optimism around institutional adoption.Will the SEC Approve an XRP ETF?While the SEC has previously delayed or denied crypto ETF applications, the recent approval of spot Bitcoin ETFs has paved the way for broader acceptance. However, XRP’s regulatory history—particularly Ripple’s legal battles with the SEC—could complicate the approval process.If the SEC approves the Franklin XRP ETF, it would mark a significant milestone for institutional XRP adoption, potentially driving further price gains and mainstream adoption of the asset, according to CoinDesk.