Key Points
- Franklin Templeton is launching an ETF that tracks the spot price of XRP. The filing aligns with a growing trend of crypto ETFs beyond Bitcoin.
- The company recently filed for a Solana ETF following Grayscale’s Dogecoin fund launch.
- XRP, created by Ripple, has a market cap of $124 billion and has tripled in value in a year.
- President Trump is considering XRP as part of a strategic digital asset reserve.
Franklin Templeton (BEN.N) has announced plans to launch an exchange-traded fund (ETF) to track the spot price of cryptocurrency XRP. This move reflects the increasing demand among asset managers for digital assets beyond Bitcoin.
The filing, submitted on Tuesday, follows a trend of financial firms expanding their crypto offerings. Many asset managers anticipate a more favorable regulatory environment under U.S. President Donald Trump’s administration, which has signaled a more open stance toward cryptocurrency investments.
This move is part of Franklin Templeton’s broader strategy to enter the digital asset space. Last month, the firm filed for an ETF tracking Solana, another popular cryptocurrency. Additionally, in January, Grayscale Investments introduced a fund tied to Dogecoin, showcasing a growing trend of mainstream financial firms embracing diverse digital assets.
XRP, created by U.S.-based crypto company Ripple, is currently the fourth-largest cryptocurrency in the world, with a market capitalization of approximately $124 billion, according to CoinGecko. Over the past year, XRP has seen its value more than triple, driven by renewed investor interest and regulatory clarity surrounding its use.
Further boosting its profile, XRP is among cryptocurrencies that President Trump has expressed interest in including as part of a new strategic reserve for digital assets. This potential government backing could further legitimize XRP and similar cryptocurrencies, strengthening their role in global finance.
Franklin Templeton’s XRP ETF is planned for listing on the Cboe BZX Exchange, a significant step toward making the asset more accessible to institutional and retail investors. To ensure secure custody of the ETF’s holdings, the company has appointed Coinbase (COIN.O) as the custodian of its XRP assets.
With major financial players increasingly integrating digital assets into their portfolios, the launch of Franklin Templeton’s XRP ETF signals a broader shift in the investment landscape, where cryptocurrencies are gaining legitimacy as viable financial instruments.
