Highlights
- The proposed Franklin XRP Trust will allow investors to gain exposure to XRP without directly holding the asset.
- Polymarket data indicated a 76% chance of SEC approval for the XRP ETF in 2025, reflecting growing confidence among investors.
- Macroeconomic conditions remain challenging. However, improvements could lead to significant gains for XRP and the broader market.
Investment giant AUM Franklin Templeton manages a staggering $1.53 Trillion in assets. It has recently taken a substantial step by filing to launch an XRP ETF product.
This move follows the U.S. government’s heightened interest in XRP. It was included in Donald Trump’s proposed crypto reserve. In light of this development, Franklin Templeton has submitted an S-1 registration statement to the SEC for an XRP ETF.
The firm joins a growing list of competitors in the XRP ETF race, including Bitwise, Canary Capital, 21Shares, Grayscale, and WisdomTree. The SEC has already acknowledged the proposals from these firms, which analysts view as a positive sign.
However, it remains uncertain whether the regulator will approve these filings. This is especially true considering its recent turn toward a more crypto-friendly position. It followed the retirement of the previous Chair, Gary Gensler.
Experts suggest that U.S. President Donald Trump’s reelection could benefit XRP price. As the situation develops, all eyes are on XRP ETF approval. Keep reading to know further.
AUM Franklin Templeton XRP ETF Filing Details
Recently, Asset under manager firm Franklin Templeton became a popular topic of discussion among the social community on X. The sources say it has officially filed an S-1 form with the U.S. SEC to launch an XRP ETF.
This filing comes just weeks after the firm sought to introduce a Solana ETF. It added to its existing spot Bitcoin and Ethereum ETF offerings.
The proposed Franklin XRP Trust will be structured as a Delaware statutory trust sponsored by Franklin Holdings LLC. This fund will allow investors to gain exposure to XRP without holding the digital asset directly.
According to the filing, the XRP holdings of the ETF will be securely managed by Coinbase Custody Trust Company LLC. If the SEC grants approval, the Cboe BZX Exchange plans to list the fund.
The ETF aims to track XRP crypto’s performance. Its goal is to provide accredited and retail investors with a regulated investment alternative in cryptocurrency.
Market Reactions To XRP ETF
Moreover, a betting website tracking the odds of many important events, like XRP ETF approval odds, got a significant boost. The betting odds per the Polymarket data suggest a 76% likelihood of the SEC approving an XRP ETF in 2025.
This marks a notable increase, as institutional investors and market participants have raised their confidence in XRP ETF approval. It has increased by 6 percentage points in the last 24 hours.
Previously, Bloomberg analysts Eric Balchunas and James Seyffart anticipated a 65% approval rate for XRP ETFs by the SEC by 2025.
The growing optimism reflected a shift in sentiment among market players regarding the regulatory landscape for cryptocurrencies. This shift is attributed to an improving pro-crypto stance.
XRP Price Reacted Positively To XRP ETF News
XRP price has surged by 15% this week, bouncing back from a recent dip from $1.85. The 200-day EMA band supported this rebound.
The recent gains can largely be attributed to the positive reception of Franklin Templeton’s new application for an XRP ETF. Investors have welcomed this.
Currently, XRP price was trading at $2.18, which was still below its all-time high of $3.40 in mid-January. However, it remains above the crucial $2 mark. Furthermore, a sustained recovery could push the token higher, especially with the potential approval of the XRP ETF.
While many positive factors exist in the crypto market, macroeconomic conditions continue to pose challenges. Improvements in these areas could lead to significant gains for the XRP price and the broader cryptocurrency landscape.
Disclaimer
In this article, the views and opinions stated by the author or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
