The competition of a fund exchanging in exchange (ETF) XRP heats up while Franklin Templeton, a large Wall Street company, managing about 1.5 billion of dollars in assets, moves forward with its request. The Chicago Board Options Exchange (CBOE) has has officially filed a 19b-4 form To list and exchange the actions of the Franklin XRP ETF, marking another important step towards approval. After this news, the price of XRP jumped from 7% to $ 2.3.
CBOE pushes for approval of the FNB XRP
The CBOE submitted a 19B-4 form to the American Securities and Exchange (SEC) Commission on behalf of Franklin Templeton. This file is the second major step in the FNB approval process, depending on the Initial company registration form.
If it is approved, the Franklin XRP ETF would be exchanged on CBOE, with Coinbase police custody managing XRP storage.
SEC has taken its time to examine ETF applications linked to crypto. In fact, it is recently delayed his decision On two other ETF XRP proposals of Grayscale and Canary Capital. However, industry experts believe that it is a standard process rather than rejection.
Franklin Templeton’s great plans of Crypto
Franklin Templeton has shown growing interest in cryptographic space. Earlier this year, Roger Bayston, head of the company’s digital asset strategy, shared that the company sought to extend its Crypto ETF offers beyond Bitcoin and Ethereum. Their objective for 2025 is diversification, which means more FNB linked to different cryptocurrencies.
If it is approved, the Franklin XRP ETF would allow investors to expose themselves to XRP price movements without having to own or store the assets themselves.
Meanwhile, this could open the door to more institutional and detail investors in search of safer ways of investing in the crypto.
More FNB XRP on the horizon?
The FNB XRP of Franklin Templeton is not the only one while waiting for approval. Other large companies, including Bitwise, 21Shares, Grayscale, Coinshares and Wisdomtree, have also submitted deposits for similar products.
Meanwhile, excitement is not only around XRP. The interest in alternative crypto ETF increases, the deposits now extending to active ingredients like Solana (Sol), Dogecoin (Doge), Cardano (ADA), Litecoin (LTC) and Hedera (Hbar).