Important points
- Franklin Templeton has updated its S-1 filing for its proposed XRP Spot ETF to remove 8(a) language that could delay approval.
- This indicates the company's goal to launch an XRP ETF within this month.
Franklin Templeton, the asset management firm behind the spot crypto ETF application, has updated its S-1 filing for the XRP ETF, a proposed spot exchange-traded fund that tracks the cryptocurrency XRP, by removing 8(a) language that could delay regulatory approval. The move signals the company's intention to launch the product this month.
Clause 8(a) of the ETF application may delay effectiveness pending regulatory approval. By removing this language, Franklin Templeton is joining other asset managers in considering the possibility of launching an XRP ETF.
Canary Funds recently updated its S-1 filing for the XRP Spot ETF by removing the delay amendment with a view to launch pending exchange approval. Bitwise has confirmed plans for its XRP ETF to list on major exchanges, indicating that it is ready for a possible debut in the near future.
Reflecting the growing interest in spot crypto products, multiple asset managers have pending XRP ETF applications under SEC review.
