Franklin Templeton’s XRP ETF Debuts with $58M Volume, Ignites Bullish Buzz

Franklin Templeton is on track to launch its XRP-focused exchange-traded fund (ETF) EZRP on the CBOE on November 18.

Quick overview

  • Franklin Templeton is set to launch its XRP-focused ETF, EZRP, on November 18, aiming to attract significant investor interest.
  • The market for XRP ETFs is rapidly growing, with Bitwise also planning to launch its own fund shortly after Franklin Templeton's debut.
  • Experts believe that the introduction of these ETFs could enhance XRP's liquidity and market momentum, despite a recent dip in its price.
  • November is seen as a crucial month for XRP, with multiple ETF launches potentially impacting its long-term performance.

Franklin Templeton is on track to launch its XRP-focused exchange-traded fund (ETF) EZRP on the CBOE on November 18. People in the know are keeping a close eye on the debut, hoping it’ll give them something to think about when comparing it to Canary Capital’s XRPC, which racked up $58 million in trading volume on its first day, making it the largest ETF debut of the year so far.

Not long ago, the firm filed an updated S-1 registration that was surprisingly easy to read, a sign that the regulatory process is moving faster than anyone had predicted. And with the reputation of Franklin Templeton behind it, investors have a good feeling that EZRP will be a big draw for both individual and institutional players right from the get-go.

XRP ETFs Starting to Get Some Serious Attention

The market for XRP ETFs is heating up fast. Just 48 hours after Franklin Templeton’s launch, Bitwise has announced its own XRP fund will launch on November 20, and it’s very much targeted at hedge funds, family offices, and other institutional investors.

  • Canary Capital XRPC – that $58M first-day volume was pretty impressive.
  • BlackRock’s BTC ETF launch – $111.7M
  • Then there’s XRPC – which did $245M on debut
  • Bitwise’s previous Solana ETF launched successfully, so we’re expecting this XRP fund to bring more people on board to trade the token. And analysts think this influx of institutional cash will really take XRP’s liquidity to the next level, enabling it to be used in even more applications.

Experts Think XRP is Due For a Boost

Despite taking a dip after XRPC launched, XRP is still a real favourite among crypto experts. And the reasons for that pullback are hardly surprising given the state of the market right now. More trading volume in ETFs has nothing to do with it.

  • E.Grag Crypto reckons that XRP’s drop is nothing to worry about – it’s actually looking healthier than some other big players.
  • Javon Marks reckons XRP has a history of coming out on top – previous times have seen a 6X gain after initial skepticism.
  • Ripple Bull Winkle reckons the ETFs show XRP’s market momentum relative to Bitcoin.

But what all these experts are really saying is that these XRP ETFs are marking the start of a whole new phase of liquidity for the token, and it’s going to be a big one. Attracting outside money and, well, even more speculative types with a taste for the unknown. With all these big launches lining up so close together, November is a pivotal month for XRP – and the results could be huge for the token in the long run.

ABOUT THE AUTHOR See More
Arslan Butt
Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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