Franklin Templeton's Strategic Play in XRP Markets Gains Regulatory Traction

Franklin Templeton has formally positioned itself in the XRP investment landscape with its proposed Exchange-Traded Fund (ETF) now appearing on the Depository Trust & Clearing Corporation (DTCC) database under the ticker symbol XRPZ. While the DTCC listing represents a procedural milestone rather than regulatory approval, it signals the seven-decade-old asset manager’s serious commitment to crypto-based investment vehicles.

The appearance on DTCC follows Franklin Templeton’s amended Form S-1 filing submitted to the US Securities and Exchange Commission this week. The company leveraged an “8(a)” regulatory mechanism—a legal pathway that enables automatic registration approval after 20 days unless the SEC actively intervenes. The updated prospectus confirms that the Franklin XRP Trust will maintain XRP as its underlying asset, with the ETF expected to eventually list on the Cboe BZX Exchange.

The Competitive Rush for XRP ETF Approvals

Franklin Templeton is far from alone in pursuing this strategy. Bitwise, Canary Capital, and Grayscale Investments have all filed similar amendments to their XRP-related S-1 forms in recent weeks, each removing traditional “delaying amendment” language to minimize SEC discretion over approval timelines. Industry observers, including former FOX News correspondent Eleanor Terrett, have suggested that Canary Capital’s XRP ETF could receive Nasdaq clearance by mid-November, contingent on government operations resuming.

The strategy mirrors the successful playbook executed by issuers of Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs, which all achieved launches last month under identical automatic-effect rules. Bitwise’s BSOL ETF achieved a standout $56 million in opening day trading volume—the highest debut across more than 850 ETFs launched to date.

Franklin Templeton’s Expanding Crypto Footprint

Managing over $1.5 trillion in global assets, Franklin Templeton has emerged as one of traditional finance’s most aggressive players in digital asset products. Its earlier spot Bitcoin (EZBC) and Ethereum (EZET) funds accumulated over $500 million in institutional capital during their first quarter on the market.

Beyond traditional ETFs, Franklin Templeton is pioneering tokenized finance infrastructure. In Hong Kong, it launched the region’s first blockchain-based money-market fund in partnership with the Hong Kong Monetary Authority (HKMA) under its Fintech 2030 initiative. The Franklin OnChain US Government Money Fund, registered in Luxembourg and backed by short-term US Treasuries, replaces traditional shares with blockchain tokens. Through Project Ensemble—an HKMA sandbox initiative—Franklin Templeton collaborates with HSBC and OSL Group to test instant settlement capabilities, positioning itself for potential tokenized ETF operations in the future.

Existing XRP ETFs Already Gaining Market Traction

While Franklin Templeton’s offering remains in regulatory review, existing XRP ETF products are demonstrating meaningful market acceptance. The REX-Osprey XRP ETF (XRPR), which launched on September 18, surpassed $100 million in assets under management within five weeks, according to recent issuer reports.

Internationally, the Hashdex Nasdaq XRP ETF (XRPH11)—recognized as the world’s first spot XRP ETF—has achieved substantial scale in Brazil, accumulating approximately 7.17 billion Brazilian reais (roughly $1.33 billion) in total assets from more than 300,000 investors.

Current XRP Market Context

With XRP currently trading at $2.08 and experiencing a 24-hour decline of 2.48%, the digital asset maintains a substantial $126.13 billion market capitalization. This backdrop provides context for the competitive intensity surrounding institutional-grade XRP investment vehicles.

The convergence of multiple ETF filings, aggressive regulatory tactics by major asset managers, and existing product success suggests that the XRP ETF approval landscape is entering a critical phase in the coming weeks.