CBOE Files for Franklin Templeton's XRP Spot ETF
The Chicago Board Options Exchange (CBOE) has filed a 19b-4 form with the SEC, proposing a rule change to list and trade shares of the Franklin Templeton XRP ETF. This follows Franklin Templeton's recent S-1 registration for the ETF, a move that sent XRP's price up 2% to $2.3, according to CoinGecko.
Key Takeaways
- Franklin Templeton filed for an XRP-focused ETF.
- The ETF will trade on the CBOE BZX Exchange.
- Coinbase Custody will serve as custodian for XRP holdings.
This development comes as several major fund managers pursue SEC approval for crypto ETFs beyond Bitcoin and Ethereum. Franklin Templeton, managing approximately $1.5 trillion in assets, is joining this movement, indicating a growing institutional interest in the space. Their 2025 strategy emphasizes diversification across various crypto assets.
Other Crypto ETFs in the Spotlight
Other crypto assets attracting attention for potential ETF listings include Solana (SOL), Dogecoin (DOGE), Cardano (ADA), Litecoin (LTC), and Hedera (HBAR). CBOE also filed a separate 19b-4 form to list Franklin Templeton's Solana ETF.
Franklin Templeton's Crypto Strategy
According to Roger Bayston, head of Franklin Templeton's digital asset strategy, the firm aims to expand its crypto offerings, with a focus on diversification beyond Bitcoin and Ethereum. This strategic move reflects the growing interest in alternative crypto assets within the financial industry.
Competition and Regulatory Approval
Franklin Templeton faces competition from other asset managers, including Bitwise, 21Shares, Canary Capital, Grayscale, CoinShares, and WisdomTree, all seeking SEC approval for their own XRP ETFs. While the SEC has extended the decision timeline for several applications, Bloomberg ETF analyst James Seyffart remains optimistic about eventual approval, noting that delays are typical.
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