Franklin Templeton updates XRP ETF filing, aiming for launch this month
Franklin Templeton updated its S-1 filing for a proposed XRP spot ETF by removing language that could delay approval, signaling its intention to launch the ETF this month. Other asset managers, including Canary Funds and Bitwise, also made similar moves, showing a growing interest in XRP spot ETFs, with multiple applications currently under SEC review.
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Franklin Templeton's Updated S-1 Filing for XRP ETF
Franklin Templeton has updated its S-1 filing for a proposed XRP spot ETF, specifically removing the 8(a) language that could cause delays in regulatory approval. This move signals the company's intention to launch the XRP ETF within this month.
Significance of the 8(a) Provision
The 8(a) provision, commonly found in ETF filings, is designed to postpone effectiveness until regulatory approval is granted. By removing this language from its filing, Franklin Templeton aligns itself with other asset managers competing to launch XRP ETFs promptly.
Competitors in the XRP ETF Space
Canary Funds has similarly updated its S-1 filing for an XRP spot ETF, removing delaying amendments to expedite launch approval. Moreover, Bitwise has confirmed plans to list its XRP ETF on a major exchange, further highlighting readiness for a potential debut in the near term.
Growing Interest in XRP Spot ETFs
There is a growing interest among asset managers in developing XRP spot ETFs. Several applications are currently under SEC review, reflecting the increasing demand for spot cryptocurrency products within the investment industry.