Franklin Templeton Achieves NYSE Approval for First XRP ETF

• Franklin Templeton’s spot XRP ETF and Grayscale’s XRP Trust ETF have been approved for listing by the NYSE. 
• The price of XRP continues to decline, falling to a crucial support level at $2.06 at press time. 

The NYSE ARCA has officially approved the listing of Franklin Templeton’s spot XRP ETF. This information was revealed in a letter filed with the US Securities and Exchange Commission (SEC) on November 21.

According to the report, this XRP ETF would trade today, November 24, under the ticker symbol XRPZ. It is also reported that Franklin Templeton’s spot XRP ETF would have an annual fee of 0.19%. However, fees on the first $5 billion in assets would be waived until May 31, 2026.

Our research also shows that NYSE ARCA has approved the listing of Grayscale’s converted ETF structure. The Grayscale’s XRP Trust ETF would begin trading tomorrow, November 25, and it would later go ahead to launch the Dogecoin Trust ETF (GDOG).

More XRP ETFs Hitting the Market

This renewed ETF momentum follows the earlier approval of Canary Capital’s XRPC, which began trading on November 13, as noted in our earlier post. On its first day of trading, it recorded $59 million in trading volume, surpassing the debut volume of Bitwise’s Solana ETF (BSOL). Additionally, Canary Capital’s XRPC had $250 million in Assets Under Management (AUM) on its debut.

On November 20, Bitwise’s XRP ETF also debuted on the NYSE. Within hours of trading, the product had attracted $100 million in assets. Already, it is reported to manage $230 million via Bitwise Physical XRP ETP. WisdomTree’s XRP ETF is also expected to hit the market soon.

As mentioned in our previous publication, JPMorgan predicted that the XRP ETFs could attract between $4 to $8 billion in their first year.

The success of these XRP ETFs has been linked to the asset’s popularity among investors. According to a senior analyst at quantitative trading firm Min Jung, institutional investors have always sought to invest in it due to its compliance exposure.

Following this development, the price of XRP has surged by 1.9% in the last 24 hours. However, this was not enough to overturn the 8.9% and the 19% loss it recorded on the weekly and monthly price charts. At the time of writing, XRP is trading at $2.06.

Amid this price struggle, Santiment disclosed on November 5 that 21,595 new XRP wallets appeared on the XRP Ledger in just 24 hours. As indicated in our previous news brief, this implies that retail and institutional investors are buying the dip.

Currently, XRP’s bullish structure of $1.94 is reported to be on hold. Maintaining this level could see the asset hitting $10 in the medium term and $50 in the long term, according to our recent analysis.