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Financial giant Franklin Templeton, managing a staggering $1.53 trillion in assets, has officially entered the race to launch an XRP exchange-traded fund (ETF).
This move places it alongside firms like Bitwise, Canary Capital, 21Shares, Grayscale, and WisdomTree, which have already submitted similar applications.
Regulatory discussions around these proposals are gaining momentum, with the U.S. Securities and Exchange Commission (SEC) acknowledging the filings from these companies.
While this recognition is seen as an encouraging step, it remains uncertain whether the regulator will approve them.
The SEC’s stance on cryptocurrency appears to be shifting, especially following leadership changes, but the final outcome is yet to be determined. A decision on Grayscale’s application is expected by October 18.
In a separate development, Volatility Shares has put forward its own unique XRP-related ETF proposals, including a product designed for investors looking to speculate on a decline in the token’s price.
