Cboe BZX Exchange has submitted a rule change application to the SEC on March 12, 2025, seeking approval for Franklin Templeton’s proposed XRP Exchange-Traded Fund (ETF).
The application could enhance XRP’s integration into mainstream finance, reflecting growing investor interest even amidst regulatory scrutiny, with XRP trading up 3.52% to $2.20.
Franklin Templeton Eyes $1.5 Trillion Market with XRP ETF
The filing signifies a strong step from Franklin Templeton, an asset manager with over $1.5 trillion under management, towards launching an XRP-based ETF. Their involvement marks a pivotal movement in the digital asset market.
The role of Cboe BZX Exchange is vital, as it submitted the application on behalf of Franklin Templeton. This action could facilitate XRP’s entry into traditional financial products.
XRP Price Rallies 3.52% Amid ETF News
The latest price data indicates that XRP is currently trading at $2.20, experiencing a price increase of 3.52%. Analysts suggest that this trend aligns with previous market movements, reinforcing historical price patterns.
Experts like Nate Geraci from The ETF Store comment positively on the potential impact, highlighting financial implications if the ETF gains approval. This could mimic successful precedents set by Bitcoin and Ethereum ETFs.
“Franklin Templeton is a big name entering the XRP ETF race.”— Nate Geraci, President, The ETF Store
Regulatory Hurdles Loom for XRP ETF Approval
This filing follows the patterns established by earlier ETF approvals like Bitcoin, but XRP faces regulatory challenges sans a CME futures product, unlike its counterparts.
Eric Balchunas emphasizes the large pool of pending approvals, while James Seyffart points to the possible influence of existing market volatility and regulatory challenges on XRP-related financial products.
