Franklin Templeton’s $1.5 Trillion Bet: Updated XRP ETF Filing Signals Imminent Approval
US financial behemoth Franklin Templeton, with $1.5 trillion in assets under management, has updated the S-1 filing for its XRP exchange-traded fund (ETF).
Quick overview
- Franklin Templeton has updated the S-1 filing for its XRP exchange-traded fund (ETF), which manages $1.5 trillion in assets.
- The revised filing includes a shortened Section 8(a) of the Securities Act, allowing the SEC to postpone registration effectiveness.
- Despite the ETF's increasing momentum, the price of XRP remains down, having lost over 14% in the last week amid a broader cryptocurrency market correction.
- Future price movements of XRP will likely depend on the demand for spot-based ETFs.
Live XRP/USD Chart
US financial behemoth Franklin Templeton, with $1.5 trillion in assets under management, has updated the S-1 filing for its XRP exchange-traded fund (ETF).
The S-1 filing is a registration document that an issuer submits to the SEC to introduce a publicly traded product, in this case, an XRP ETF. Section 8(a) of the Securities Act, which allows the regulator to postpone the effectiveness of a registration, is shortened in the revised filing.
Bitwise and Canary Fund both updated their filings before this. The price of the ETF token is still down despite the increasing momentum of the ETF. Amidst a wider correction in the cryptocurrency market, the cryptocurrency has lost over 14% in the last week. The degree of demand that spot-based ETFs encounter will probably determine how much XRP’s price moves in the future.
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