XRP Soars 16% as Franklin Templeton Files for ETF, SEC Delays Weigh
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- Franklin Templeton has filed for an XRP ETF with the SEC
- The SEC says it will delay its decision-making on XRP ETF filings
- XRP surged 16% following Franklin Templeton’s ETF filing announcement
Global investment firm Franklin Templeton has applied for an XRP ETF with the US Securities and Exchange Commission (SEC).
After the firm’s filing on Tuesday, the SEC announced it would delay its decision on earlier applications filed by Canary Capital and Grayscale.
According to an S-1 registration Franklin Templeton submitted to the SEC, the investment firm plans to trade its XRP ETF product, if approved, on the Cboe BZX exchange, using Coinbase Custody as the custodian for its XRP holdings. A section of the filing stated that the fund aims to reflect the overall performance of XRP’s price.
The Growing List of XRP ETF Applicants
Besides Franklin Templeton, other investment firms have already filed for XRP ETFs with the SEC, including Bitwise, 21Shares, Grayscale, WisdomTree, Canary Capital, and CoinShares. All these firms are waiting for the SEC’s approval before launching products that will make XRP available for institutional investors, similar to wh…
The post XRP Soars 16% as Franklin Templeton Files for ETF, SEC Delays Weigh appeared first on Coin Edition.
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