SEC Weighs Okay for Franklin's XRP Crypto ETF on Major Exchange
Published Date: 6/23/2025
Notice
Summary
The SEC is deciding whether to approve the Franklin XRP ETF to be listed and traded on the Cboe BZX Exchange. This affects investors interested in cryptocurrency-based funds and could open new trading opportunities soon. The decision process started in March 2025 and is still underway, with potential impacts on how easily people can buy and sell XRP-related shares.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 0 costs, 2 mixed.
SEC Reviewing Listing of XRP ETF
The SEC is deciding whether to approve the Franklin XRP ETF to be listed and traded on the Cboe BZX Exchange. The process began with the Exchange filing on March 13, 2025, proceedings were instituted on June 17, 2025, and the Commission is inviting written comments by July 14, 2025 (rebuttals by July 28, 2025). If approved, investors could gain a new way to buy and sell shares tied to XRP.
Fund Holds XRP; Creation/Redemption Details
The proposed Franklin XRP ETF would hold only XRP, cash, and cash equivalents and would value its shares daily at 4:00 p.m. ET using the CME CF XRP-Dollar Reference Rate—New York Variant. The Trust would create or redeem shares in cash or in-kind with authorized participants in blocks of 50,000 shares.
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