by Franklin Templeton spot XRP ETF Its application has passed a critical threshold in the US Securities and Exchange Commission (SEC) approval process. The company removed Article 8(a) from its application in an update on November 4. This change could bypass the SEC’s ability to delay approval, allowing the ETF to automatically go into effect after the 20-day waiting period. Development investment giant XRP It shows its determination to launch its ETF as soon as possible.
ETF Approval Process Accelerates in XRP
Update from Franklin Templeton ETF analyst James Seyffart confirmed and was interpreted as a strategic acceleration step for the investment giant. The removal of Article 8(a) makes it possible for the process to continue uninterrupted even in the event of a possible government shutdown. Experts say the regulation ETFHe states that it can eliminate the biggest uncertainty in the SEC approval process by paving the way for automatic activation of .
The investment giant’s move shows that institutional investors’ interest in XRP is rapidly increasing. Bitcoin 
$104,050.19 and Ethereum 
$3,494.70 Large funds looking to invest in cryptocurrencies outside of the U.S. are increasingly identifying XRP as a cryptocurrency with real-world uses. Especially Ripple 
$2.26‘s increasing presence in international payment networks also supports this interest.
Corporate Demand Is Increasing
Franklin Templeton’s step came as Bitwise and Canary Funds similarly accelerated their XRP ETF applications. Canary Funds While it aims to launch its ETF on November 13th Bitwise also recently confirmed plans to list. Developments on the ETF side show that XRP is only one part of the financial world. cryptocurrency It reveals that it is starting to be seen as a payment tool that can be integrated into the banking infrastructure.
But despite the excitement in the market XRP coinThe price of did not give the expected reaction in the short term. CryptoAppsy According to data, XRP, which has decreased by 0.94 percent in the last 24 hours, is traded at approximately $ 2.24. Analysts predict that investors are waiting for official SEC approval, but with the approval of the ETF, the price may regain momentum towards its historical peak of $ 3.80.
