Franklin Templeton Lists XRP ETF on DTCC Platform

Franklin Templeton’s proposed XRP spot ETF appeared on the DTCC’s website under the symbol XRPZ as a preparatory measure, following a recent S-1 registration amendment, without SEC approval.

The listing reflects a procedural step amid growing institutional interest in digital assets but requires SEC approval for trading to commence, affecting market sentiment and potential liquidity.

Franklin Templeton Moves XRP ETF Closer to Market

Franklin Templeton took a strategic step by listing its XRP ETF on the DTCC platform, following an S-1 registration amendment. The amendment includes a shortened “8(a)” provision allowing potential automatic SEC registration if unopposed. The XRP community is anticipating official regulatory actions as the process advances. The ETF’s presence on the DTCC is primarily procedural and does not guarantee immediate trading commencement.

The introduction of this ETF could increase institutional flows in the cryptocurrency market, with potential inflows exceeding $5 billion within the first month, per market analysts. This step highlights a growing interest in digital assets despite the ongoing regulatory landscape’s uncertainty. The fund is structured to track the performance of XRP exclusively.

James Seyffart, ETF Analyst, Bloomberg – “The 8(a) filing language shortens the SEC response window and could potentially allow registration to take effect automatically after 20 days, barring active intervention.”

Market responses have been observedly optimistic, particularly from segments actively following XRP price movements. Analyst comments are cautiously positive, reflecting on both the interest and reservation in XRP’s growing acceptance.

Independent XRP proponents like @BankXRP on X have voiced enthusiasm, marking the preparatory step as a milestone.

XRP Price Surge and Institutional Interest Post-ETF Listing

Did you know? Regulatory maneuvering with “8(a)” provisions has parallels with previous Bitcoin ETF filings, which surged post-approval.

XRP is currently priced at $2.27 with a market cap of $136.59 billion, representing a 3.89% increase over the last 24 hours, as per CoinMarketCap data. However, the asset has declined by 28.42% over the past 90 days, with trading volumes marked at $5.31 billion, showing volatility as major indexes anticipate regulatory nods.

Insights from the Coincu research team suggest the potential for increased liquidity and interest in decentralized finance solutions owing to XRP’s elevated visibility as an ETF candidate. Expert opinions predict that successful registration could foster new institutional investment avenues, though challenges persist due to regulatory oversight.