The race for an XRP exchange-traded fund (ETF) is getting more and more intense. Franklin Templeton became the latest firm to file for a spot XRP ETF, submitting its application to the U.S. Securities and Exchange Commission (SEC) on March 11. This brings the total number of firms vying for approval to nine, including major players like Bitwise, ProShares, and 21Shares, according to Cointelegraph.
BlackRock Stays Silent while SEC Keeps Market in Suspense
Despite the growing interest, BlackRock, the biggest spot Bitcoin ETF issuer, has yet to file for an XRP product. Meanwhile, the SEC has postponed decisions on several crypto ETF filings, including Grayscale’s proposal to convert its XRP Trust into an ETF. These delays are keeping the market on edge.
More Firms Jump Into the XRP ETF Market
Other major filings include Switzerland-based 21Shares, WisdomTree, and European firm CoinShares. Some companies, like Volatility Shares, have even filed for leveraged XRP ETFs. REX-Osprey and Tuttle Capital have included XRP in broader crypto ETF products, alongside Bitcoin and memecoins like Bonk.
While BlackRock and others remain on the sidelines, competition for the first approved XRP ETF is growing fast. At the time of writing, XRP is sitting at $2.2199.
Questions or Comments about the article? Write to editor@tipranks.com