- Franklin Templeton updated its XRP ETF S-1 and dropped the Section 8(a) delay, mirroring this month’s fast-track filings.
- Canary, Bitwise, CoinShares and Grayscale are all moving XRP products toward mid November listings on Cboe, NYSE and Nasdaq.
- Record XRP fund inflows and new CME derivatives show institutions now want regulated XRP exposure, not just spot.
Franklin Templeton took a key step toward listing a spot XRP exchange traded fund after it updated its S-1 with the U.S. Securities and Exchange Commission and removed the 8(a) delay clause that would have allowed the SEC to control its activation timing.
This is the same procedural path issuers used for the Bitcoin and Ethereum spot ETFs earlier this year, which tells the market Franklin Templeton wants to be in the first wave if exchanges clear the product in November. The ETF is set to list on Cboe BZX and track XRP’s spot price, giving institutions a regulated way to hold XRP.
Related: Grayscale Updates XRP ETF Filing Before Ripple’s Swell, XRP Still Range-Bound
Franklin Templeton Targets November Window With Cboe BZX Listing Plan
In its filing, Franklin Templeton said the XRP ETF would trade on the Cboe BZX Exchange, bringing it in line with other U.S. spot crypto products. By stripping out the SEC’s delay clause, the issuer opened the door for the registration to go effective automatically after the waiting period, provided Cboe signs off.
The timing lines up with the November launch window analysts have been tracking for XRP ETFs. It also follows Franklin Templeton’s Solana ETF move last month, which shows the firm is expanding beyond Bitcoin and Ethereum into high demand altcoins.
Rival Issuers Rush To Finalize XRP ETF Terms
Franklin Templeton is not alone. Canary Funds also filed an amended S-1 that removed the delaying amendment and is working toward a debut around November 13, according to its SEC documents.
Bitwise filed what analysts called a final style amendment, adding NYSE as the listing venue and locking in a 0.34% management fee, which is a typical last step before trading starts.
CoinShares updated its paperwork to include the ticker “XRPL” for a Nasdaq listing, while Grayscale continued to build out its lineup after earlier launching a Dogecoin vehicle. Together these filings show a full field of issuers preparing to list XRP products within days of each other.
Related: Coinshares XRP ETF Targets Nasdaq Listing With Index-Tracked Exposure
Institutions Are Now Asking For XRP Based Exposure
Institutional engagement with XRP continues to expand as major issuers prepare for possible ETF approvals. REX–Osprey’s XRPR fund recently surpassed $100 million in assets under management, marking a record for XRP-based investments. CME Group has also expanded its derivatives suite with new XRP options, responding to increased demand for futures-linked exposure to XRP.
In addition, ProShares has entered the space with its proposed CoinDesk Crypto 20 ETF, which will track the CoinDesk 20 Index, including assets such as XRP and Solana.
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Source: https://coinedition.com/xrp-etf-filing-update-franklin-templeton-november-launch/
