- Franklin Templeton has submitted an S-1 filing to the U.S. Securities and Exchange Commission (SEC) seeking approval for an XRP ETF.
- The SEC has postponed decisions on XRP ETF applications from Canary Capital and Grayscale.
- XRP surged 6% in the past 24 hours as crypto markets attempt recovery.
Franklin Templeton filed an S-1 registration statement with the SEC on Tuesday, proposing the launch of the Franklin XRP Trust. Shortly after, the SEC announced delays in reviewing similar ETF proposals from Canary Capital and Grayscale.
Franklin Templeton’s Push for an XRP ETF
The asset management giant submitted its S-1 application to list an XRP ETF on the Cboe BZX Exchange, with Coinbase Custody serving as the custodian for XRP holdings.
"The fund seeks to reflect the overall performance of XRP. Before deducting fund expenses, it aims to mirror such performance," the filing states.
Franklin joins Bitwise, 21Shares, Grayscale, WisdomTree, Canary Capital, and CoinShares in awaiting potential regulatory approval for their XRP ETF proposals.
The SEC previously acknowledged filings from these firms, suggesting Franklin’s application may follow a similar review process. Regulatory guidelines allow 240 days for the SEC to approve or reject such products post-acknowledgment.
Bloomberg analysts Eric Balchunas and James Seyffart estimate a 65% chance of XRP ETF approval by 2025.
Meanwhile, the SEC announced a delay in deciding on Canary’s and Grayscale’s applications, setting a new deadline of May 21, 2025.
"The Commission finds it appropriate to designate a longer period to take action on the proposed rule change to allow sufficient time to consider the proposal and related issues," wrote SEC Assistant Secretary Sherry Haywood.
XRP’s price rose 6% in 24 hours, trading at $2.20 at press time, signaling renewed market optimism.
FAQs About XRP and Ripple
What is Ripple?
Ripple is a payment solutions company specializing in cross-border transactions via blockchain technology. Its RippleNet network connects global financial institutions for seamless value transfers.
What is XRP’s role?
XRP is the native token of the XRPLedger blockchain, designed to facilitate fast, low-cost transactions for financial institutions. It eliminates intermediaries, enabling trustless payments.
How does XRPLedger work?
The decentralized ledger uses a unique consensus protocol to validate transactions, resisting spam and DDOS attacks. It’s maintained by a global community of nodes.
Who created XRP?
Developed by Jed McCaleb, Arthur Britto, and David Schwartz, XRP serves as the XRPLedger’s fuel for transactions and interoperability between networks.
👉 Explore the future of crypto ETFs
Disclaimer: This article is for informational purposes only and does not constitute financial advice.
### **Key SEO Elements**
- **Primary Keywords**: XRP ETF, SEC delay, Franklin Templeton, Grayscale, Canary Capital
- **Secondary Keywords**: Crypto recovery, RippleNet, XRPLedger, Coinbase Custody