Franklin Templeton Joins XRP ETF Filing and Launch Race

# Franklin Templeton Files S-1 Registration for XRP ETF with SEC Franklin Templeton has officially filed an S-1 registration form with the U.S. Securities and Exchange Commission (SEC) to launch an XRP ETF. This follows the company's previous registration of the Franklin XRP Trust in Delaware. While the SEC has already approved Bitcoin and Ethereum ETFs, it is currently reviewing applications for cryptocurrency spot ETFs. According to CoinPedia on the 12th, Franklin Templeton's latest filing positions it alongside other asset management firms competing to launch XRP ETFs, such as Bitwise, 21Shares, Canary Capital, Grayscale, and WisdomTree. The proposed ETF aims to provide investors access to XRP through the CBOE BZX Exchange, with XRP currently ranking as the fourth-largest cryptocurrency by market capitalization. Coinbase Custody will safeguard the XRP assets, while Coinbase will act as the primary broker. The fund's net asset value will be determined based on the CME CF XRP-USD reference rate. # 65% Probability of XRP ETF Approval The SEC has been reviewing multiple XRP ETF applications, starting with Grayscale's submission on February 14th. The SEC has initiated a 240-day review period, with applications from WisdomTree, Canary Capital, and CoinShares currently undergoing public comment. Bloomberg analysts Eric Balchunas and James Seyffart estimate a 65% chance of XRP ETF approval by the SEC in 2025. # SEC Delays Decision on ETF Applications, New Deadline May 2025 The SEC recently announced a delay in its decision on Grayscale's XRP ETF application, citing the need for additional time to determine approval or rejection. The SEC has also postponed decisions on VanEck’s Solana spot ETF, Canary’s Litecoin and Solana spot ETFs, as well as Canary and Grayscale’s XRP spot ETFs, and Grayscale’s Dogecoin spot ETF. Investors must wait until May 2025 for updates on whether these applications will be approved, rejected, or further delayed. For XRP, the new deadline is set for May 22, 2025. This extension affects XRP spot ETF applications from Canary, Bitwise, and Grayscale. Recent developments related to XRP have boosted market optimism, with investors closely monitoring the SEC's review process. Additionally, XRP's value has more than tripled over the past year.