Franklin Templeton submits XRP ETF application

According to Nate Geraci, president of The ETF Store, Franklin Templeton, with over $1.5 trillion in assets under management, has officially joined the XRP ETF competition.

Based on the preliminary prospectus submitted on March 11th, Franklin XRP Trust will issue shares of the Franklin XRP ETF fund. This ETF will primarily hold XRP kept by a custodian on behalf of the fund and aims to reflect the overall performance of XRP's price.