Franklin Templeton submits XRP ETF application

According to Nate Geraci, President of The ETF Store, Franklin Templeton, with assets under management exceeding $1.5 trillion, has officially joined the XRP ETF competition. According to the preliminary prospectus submitted on March 11th, Franklin XRP Trust will issue Franklin XRP ETF fund shares, which will primarily hold XRP held by the custodian on behalf of the fund, aiming to reflect the overall performance of XRP prices. Franklin Holdings, LLC will serve as the initiator of the trust and fund, while Coinbase Custody Trust Company will act as the custodian of the fund's XRP assets.