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Global investment firm Franklin Templeton has applied for an XRP ETF with the US Securities and Exchange Commission (SEC). After the firm’s filing on Tuesday, the SEC announced it would delay its decision on earlier applications filed by Canary Capital and Grayscale. According to an S-1 registration Franklin Templeton submitted to the SEC, the investment firm plans to trade its XRP ETF product, if approved, on the Cboe BZX exchange, using Coinbase Custody as the custodian for its XRP holdings. A section of the filing stated that the fund aims to reflect the overall performance of XRP’s price. Besides Franklin Templeton, other investment firms have already filed for XRP ETFs with the SEC, including Bitwise, 21Shares, Grayscale, WisdomTree, Canary Capital, and CoinShares. All these firms are waiting for the SEC’s approval before launching products that will make XRP available for institutional investors, similar to what happened with Bitcoin and Ethereum last year. Related: XRP ETF Race Kicks Into High Gear: Bullish Rebound Possible? According to SEC laws, the regulatory commission has a 240-day window to decide whether to approve or deny Franklin Templeton’s application. Meanwhile, ETF analysts Eric Balchunas and James Seyffart forecast a 65% chance that the SEC will approve XRP ETFs before the end of 2025. The SEC’s Assistant Secretary Sherry Haywood noted that the commission has decided to take more time before ruling on the proposed rule change. According to Haywood, that would give the institution sufficient time to analyze the issues raised. XRP’s price jumped 16% on Tuesday following Franklin Templeton’s ETF application. Related: Ripple CEO: XRP ETF Approval “Inevitable” – Analyzing Potential XRP Price Reaction The altcoin bounced off a $1.897 monthly low to reach $2.245 in the early hours of Wednesday before pulling back slightly to trade for $2.160 at the time of writing, according to data from TradingView. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

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Crypto traders gear for President Trump’s plan to tackle inflation, Bitcoin eyes rally above $100,000 : Bitcoin slips to a low of $97,777 on Monday as crypto traders digest Trump’s executive orders and directives to tackle inflation. A dent in inflation could increase liquidity and support demand for risk assets like Bitcoin, institutional investors remain bullish. BTC eyes return to the all-time high of $109,588, trades near 10% below on Monday.

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