The competition for an XRP exchange-traded fund (ETF) is heating up as Franklin Templeton, a major Wall Street firm managing about $1.5 trillion in assets, moves forward with its application. The Chicago Board Options Exchange (CBOE) has officially filed a 19b-4 form to list and trade shares of the Franklin XRP ETF, marking another important step toward approval. Following this news, XRP’s price jumped by 7% to $2.3.
CBOE Pushes for XRP ETF Approval
The CBOE has submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) on behalf of Franklin Templeton. This filing is the second major step in the ETF approval process, following the firm’s initial S-1 registration form.
If approved, the Franklin XRP ETF would be traded on CBOE, with Coinbase Custody handling XRP storage.
The SEC has been taking its time reviewing crypto-related ETF applications. In fact, it recently delayed its decision on two other XRP ETF proposals from Grayscale and Canary Capital. However, industry experts believe this is a standard process rather than a rejection.
Franklin Templeton’s Big Crypto Plans
Franklin Templeton has shown a growing interest in the crypto space. Earlier this year, Roger Bayston, head of the firm’s digital asset strategy, shared that the company is looking to expand its crypto ETF offerings beyond Bitcoin and Ethereum. Their focus for 2025 is diversification, which means more ETFs linked to different cryptocurrencies.
If approved, the Franklin XRP ETF would allow investors to gain exposure to XRP’s price movements without having to own or store the assets themselves.
Meanwhile, this could open the door for more institutional and retail investors looking for safer ways to invest in crypto.
More XRP ETFs on the Horizon?
Franklin Templeton’s XRP ETF isn’t the only one awaiting approval. Other major firms, including Bitwise, 21Shares, Grayscale, CoinShares, and WisdomTree, have also submitted filings for similar products.
Meanwhile, the excitement isn’t just around XRP. Interest in alternative crypto ETFs is growing, with filings now extending to assets like Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), and Hedera (HBAR).
