Investment giant Franklin Templeton joins a growing river of the financial asset providers in the hope of offering an XRP Exchange-Traded Fund (ETF) to the public.

On Tuesday, the company filed a Franklin XRP ETF for the purpose of tracking the spot price of XRP minus fees, where assets are held via Coinbase Parent Authority.

Shares will trade on CBOE BZX Exchange, where authorized participants create/redeem them in blocks using cash, converted to XRP via a third party. Shareholders do not benefit from the XRP Ledger forks or AirDrops.

The archives preliminary, so SEC has up to 240 days – potentially late in 2025 – to approve or deny it. Franklin joins Bitwise, 21Shares and others in the XRP Etf race and is betting on a crypto-friendly shift.

XRP has increased by 4.2% over the last 24 hours in line with a wider market recovery.