The Franklin Templeton XRP exchange-traded fund (ETF) is listed on the Deposit Clearing Corporation (DTCC) website under the ticker XRPZ, as confirmed by Cryptopolitan early Friday morning. Listing is merely a preliminary stage and does not indicate approval or the commencement of active trading.
The DTCC website is a database that lists the names of exchange-traded funds currently in operation and those in the pre-launch stage, but it is only listed formally and does not track the likelihood of approval prior to formal market debut.
Franklin Templeton’s XRPZ listed on DTCC after S-1 amendment filing
Bloomberg ETF analyst James Seifert reported Tuesday that Franklin Templeton filed an amended Form S-1 registration statement for its XRP fund. The changes made include shortened “8(a)” language, a legal “loophole” that allows registrations to automatically become effective after 20 days without direct SEC approval unless a government agency intervenes.
An updated prospectus sent to regulators on Tuesday states that the Franklin XRP Trust will hold the XRP token as its primary asset and track the digital asset’s market performance. If approved, the ETF will be listed on the Cboe BZX exchange.
Franklin Templeton’s filing is one of several similar ETF filings and proposed changes to the filing made in early November. Bitwise and Canary Capital apply correction Last week, it removed a traditional “delay of amendment” provision that limited the SEC’s ability to control approval timelines.
Grayscale Investments also filed a second amendment (Amendment No. 2) to its XRP-related Form S-1 on Monday.
Eleanor Tellet, host of the podcast Crypto In America and former Fox News correspondent, said Canary Capital is awaiting final approval from the Nasdaq through an 8-A filing to see if the government shutdown ends quickly, and that the XRP ETF could be approved by November 13.
“Agency reopening could impact the timing, which could be accelerated once the filing is completed and the SEC is satisfied, or reversed if the staff suggests additional comments,” she said. I wrote X in late October.
The strategy developed by Franklin Templeton mimics that of the issuers of the Solana (SOL), Litecoin (LTC), and Hedera (HBAR) ETFs, which successfully launched last month under similar automatic effect rules.
Just before the start of the 38-day US government shutdown, these ETFs managed to get through the regulatory process and listing without any delay in formal SEC approval. Bitwise’s BSOL ETF posted an impressive first-day trading volume of $56 million, making it the best debut of the 850+ ETFs launched to date.
Franklin Templeton is ‘optimistic’ about products in digital asset market
Franklin Templeton is a 70-year-old financial firm that manages over $1.5 trillion in global assets and is one of the most active traditional financial institutions in launching crypto-based investment vehicles.
Earlier this year, the company debuted its Spot EZBC (Bitcoin) and EZET (Ethereum) funds, which collectively attracted more than $500 million in institutional capital within the first quarter.
The New York-based company has also launched a blockchain-based project in Hong Kong, launching the region’s first tokenized money market fund in collaboration with the Hong Kong Monetary Authority (HKMA) under its new FinTech 2030 roadmap.
The Franklin OnChain US Government Money Fund is registered in Luxembourg and is backed by the short-term US Treasury using blockchain tokens in place of investors’ shares. Franklin Templeton is working with HSBC and OSL Group, one of Hong Kong’s 11 licensed crypto asset platforms, to test instant settlement through Project Ensemble, the HKMA sandbox for tokenized deposits.
HSBC executives believe that a tokenized platform could help increase capital flows and improve interoperability between systems, which could later impact ETF operations in tokenized form.
XRP ETF surpasses $100 million in assets under management after several weeks of trading
Excluding pending ETF approval, the Live REX-Osprey XRP ETF (XRPR), launched on September 18, has surpassed $100 million in assets under management (AUM) in just five weeks, according to the issuer’s late October report.
Outside of the US market, the HashDex Nasdaq XRP ETF (XRPH11), the world’s first spot XRP ETF listed in Brazil, has amassed approximately BRL 7.17 billion (approximately $1.33 billion) in total assets from more than 300,000 investors, according to statistics shared by the ETF provider’s website.
