Franklin Templeton Joins the Race to Launch an XRP ETF in the U.S.

Franklin Templeton, an asset manager with over $1.5 trillion in assets, has joined the race to launch an XRP ETF in the U.S.

Asset manager Franklin Templeton has joined the race to launch an XRP ETF in the U.S., according to a report by The Crypto Basic.

The asset manager, which has over $1.5 trillion in assets under management, has registered an XRP trust with the U.S. Securities and Exchange Commission (SEC).

Specifically, Franklin filed S-1 registration for its XRP trust with the SEC yesterday, March 11. Earlier this year, the asset manager registered an XRP Trust in Delaware.

Massive name joins XRP ETF race.

$1.5+ trillion asset manager Franklin Templeton officially submits XRP ETF application.

The post Franklin Templeton Joins XRP ETF Race With S-1 Filing for Its XRP Trust appeared first on The Crypto Basic.

This follows earlier filings by other asset managers, including WisdomTree, to launch an XRP ETF in the U.S.

Like previous filings, the Franklin XRP Trust will track the price performance of XRP, providing investors with indirect exposure to the underlying asset.

According to the filing, Franklin Templeton structured the fund as a Delaware Statutory Trust and selected Coinbase Custody as the custodian of the fund’s XRP assets.

CSC Delaware Trust Company will serve as the sole trustee of the fund, while an unnamed custodian will manage the cash holdings of the XRP Trust and also serve as the transfer agent and administrator of the fund.

Franklin sponsors the XRP Trust, and the company will also serve as the marketing agent for the fund.

Shares of the XRP Trust will be listed and traded on the Cboe BZX exchange, the same exchange where other applicants, such as WisdomTree, Canary Capital and 21Shares, plan to list their XRP ETFs.

The post Franklin Templeton Joins XRP ETF Race With S-1 Filing for Its XRP Trust appeared first on The Crypto Basic.