Franklin Templeton’s Strategic Move into XRP with Spot ETF Launch
- Franklin Templeton, managing over $1.6 trillion in assets, has launched the Franklin XRP Trust under ticker XRPZ on NYSE Arca.
- The Spot ETF provides regulated exposure to XRP, with custody by Coinbase Custody Trust Company and administration by BNY Mellon.
- Since its launch in November, the fund has attracted over $242 million in inflows and holds more than 100 million XRP.
- The firm emphasizes XRP Ledger’s capabilities for real-time, low-cost settlement and efficient cross-border payments as reasons for their investment.
- Collectively, Spot ETFs have seen over $1.16 billion in net inflows since clearance was granted in November.
Franklin Templeton’s entry into the XRP ETF market marks a significant endorsement from a major financial institution, highlighting growing institutional confidence in digital assets like XRP Ledger for efficient global value transfer.
The firm’s strategic move is reflected in substantial capital flows into its Spot ETF products, underscoring investor interest despite recent outflows from other digital asset ETFs like Bitcoin and Ethereum. (Source)
