Frank Templeton wants to enter the XRP ETF marketplace alongside other eight market participants. BlackRock fails to join other major financial players as they have not applied to run products based on XRP.
The brand Franklin Templeton seeks to bring an ETF featuring XRP to trade while keeping XRP assets at Coinbase Custody Trust per its submission to SEC. The SEC placed_hold on multiple crypto ETF applications including Grayscale’s attempt to transform its XRP Trust into an ETF at the same time when Franklin Templeton filed its application.
Unlike other issuers like BlackRock with its major Bitcoin ETF product the company has not taken part in the XRP ETF market development. Many people wonder if BlackRock will take part in XRP ETF offering trials.
XRP ETF Filings Surge As Nine Firms Compete
To date nine investors have sent their applications for XRP ETF businesses to the United States authorities for approval. Major investment organizations Bitwise, ProShares, 21Shares, and WisdomTree lead the way among numerous other businesses.
Bitwise earned its position as a top crypto fund manager by being the first to apply for an XRP ETF. Almost immediately after that the firm Canary Capital brought their XRP ETFs to market on October 8, 2024.
In December 2024 21Shares from Switzerland and WisdomTree from the United States submitted their applications to offer XRP ETFs. On January 17, 2025 ProShares submitted several ETF application submissions to further compete with other applicants. The company presented four products for investment including the ProShares XRP ETF and other XRP-related financial instruments.
In January European crypto investment firm CoinShares filed an XRP ETF proposal and Grayscale planned to convert its XRP Trust into an NYSE-traded ETF.
On March 7 Volatility Shares from Florida took clear XRP ETF positions by lodging three separate XRP ETF filings. Betting on XRP expansion through Volatility Shares introduced three connected XRP investment products for the market. Several companies today use XRP as part of multi-cryptocurrency ETF platforms.
Asset manager REX-Osprey submitted an ETF Opportunities Trust filing on January 21 to feature seven ETFs following Bitcoin, XRP, and also memecoins Bonk and Official Trump (TRUMP). The fund administrator Tuttle Capital Management sought SEC approval to manage an ETF trust consisting of daily-targeted funds covering XRP and Melania (MELANIA) as investments.
The market expects larger asset managers to join the XRP ETF race soon since they have not submitted applications yet. The list of uninvolved companies in the XRP ETF filing process includes BlackRock, Invesco, VanEck, ARK Invest, Fidelity Investments, and Galaxy Digital.
The market stays vigilant as the SEC conducts its assessments through various applications it receives. An XRP ETF approval would boost both the number of users who buy XRP and its total market worth.
