Investment behemoth Franklin Templeton, which boasts a total of $1.53 trillion worth of assets under management, has filed to launch an XRP exchange-traded fund (ETF).
It has joined the XRP ETF race after such smaller players as Bitwise, Canary Capital, 21Shares, Grayscale, and WisdomTree.
As reported by U.Today, the U.S. Securities and Exchange Commission (SEC) has already acknowledged the proposals from the aforementioned firms. This has been interpreted as a positive sign by analysts, but it remains to be seen whether these filings will actually get approved by the regulator, which has adopted a crypto-friendly stance following the departure of former boss Gary Gensler. The SEC will have to announce its decision regarding the Grayscale proposal by Oct. 18.
Meanwhile, Volatility Shares has also filed to launch more exotic XRP ETF products, with one of them making it possible to bet against the price of the token.
The price of XRP has spiked by more than 5% over the past 24 hours, according to CoinGecko data.
Dan Burgin
Vladislav Sopov