- Asset manager Franklin Templeton has submitted its S-1 filing for an XRP ETF.
- Several altcoins have seen ETF filing by major firms in the last few months.
As the crypto market begins another attempt at price revival, community members seem to have turned over a positive leaf. The overall market cap shows a 2.73% increase, and Bitcoin has retraced to its Monday trading level of $82,000. As whales and investors wade through this consolidation phase, other subsectors show surging activity.
For instance, this past two months saw several asset management firms filing for altcoin ETFs. In the past day, VanEck filed for an Avalanche ETF drawing market attention. Notably, another prominent player in the ETF sector, Franklin Templeton has filed for an XRP ETF with the SEC.
Moreover, ETF Store President Nate Garcia shared the news in an X post, with a snapshot of the filing. The firm has submitted the S-1 filing, one of the preliminary steps for launching an ETF. Although the SEC has not yet responded, community members speculate delays in the regulator’s response.
Other firms that have filed for an XRP ETF are Bitwise, Grayscale, and WisdomTree as per leading media reports. Other altcoins including Cardano, Solana, and as aforementioned, Avalanche have been competing for ETF issuers attention. This recent development suggests that XRP might be the next altcoin ETF to make its debut.
Will the XRP ETF Win the Race Against Other Altcoins’ ETF?
In late 2024, and the first two months of 2025, the XRP ETF launch showed fluctuating movements. At certain points, Litecoin seemed to be advancing with SEC approvals. However, in February, the Ripple token’s ETF saw shifting landscapes.
Notably, Bitwise received approval from the SEC for its filing in the middle of February. Meanwhile, Grayscale reports that its filing is under review with the regulator. Franklin Templeton’s filing tips the scales towards XRP over other altcoins.
Amid ETF activity, community members have been speculating if this advancement will cause the altcoin to rally significantly. Presently, the spot Bitcoin and Ethereum ETFs have continued to hold stable market attention over the past year.
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