Franklin Templeton Highlights $XRP Benefits

In its Tuesday filing, Franklin Templeton said the XRP Ledger, whose development is being overseen by fintech firm Ripple, is "better positioned than most" other digital asset networks.

The investment firm is just one of several companies hoping to issue an XRP ETF amid the rise in cryptocurrency ETFs.

Franklin Templeton Highlights $XRP Benefits

In its Tuesday filing, Franklin Templeton said the XRP Ledger, whose development is being overseen by fintech firm Ripple, is "better positioned than most" other digital asset networks.

It also featured the key benefits of the XRP Ledger, which include:

• A "massive and engaged community"

• A "highly scalable and efficient network"

•xrp price today: on the move as several firms file for an xrp etf

The token is up nearly 4% in the day. It is also down over 12% in the last seven days.

The digital currency is seeing a slight pump Tuesday night after news of the Franklin Templeton filing broke on social media.

On the other hand, the digital currency is down over 12% in the last seven days amid a broader crypto market downturn due to a dip in financial markets.

The firm is planning to launch an iShares Series Trust common stock an XRP ETF.

The firm highlighted the benefits of the XRP Ledger, which include a "massive and engaged community" and a "highly scalable and efficient network."

"The network is capable of handling thousands of transactions per second at low cost, which is a significant improvement over traditional payment systems," Franklin Templeton stated in its filing.

It added that the scalability and efficiency of the XRP Ledger make it "well-suited for the global financial market."

The investment firm also noted that the token is "designed to facilitate cross-border payments."

"In today's interconnected world, there is a clear need for faster and lower-cost cross-border payment solutions," Franklin Templeton concluded.

Ripple CEO Reacts to Latest Filing

The Franklin Templeton filing comes after several other companies filed for an XRP ETF.

Among them are Grayscale and Galaxy Digital, which filed for an XRP ETF in June.

Moreover, on Monday, the Securities and Exchange Commission (SEC) put on hold its decision on several altcoin ETF filings, including filings for Solana (SOL) ETFs, Litecoin (LTC), XRP, and Dogecoin (DOGE).

Senior Bloomberg ETF analyst James Seyffart said the delay is expected and is "standard procedure," considering how Paul Atkins, the new SEC Chair appointed by U.S. President Donald Trump, hasn't been confirmed yet.

Still, Seyffart believes the projected timeline he and colleague Eric Balchunas produced is still on track. They previously predicted that Litecoin ETFs filed by Grayscale and Canary Capital have a 90% chance of getting approved this year, explaining that LTC and DOGE are crypto coins the SEC "likely" sees as commodities, not securities.