XRP News Today: Franklin Templeton Edges Out BlackRock in XRP ETF Race

Wall Street's attention is turning to XRP as Franklin Templeton accelerates its bid for a spot XRP exchange-traded fund (ETF), positioning itself to capitalize on a rapidly evolving regulatory landscape and growing institutional demand. The asset manager recently amended its S-1 registration statement by removing the "8(a)" clause, a procedural move that signals confidence in near-term SEC approval. This adjustment mirrors the strategies employed by firms that secured approvals for Bitcoin and Ethereum ETFs earlier this year, streamlining the regulatory process by allowing the filing to become effective automatically unless the SEC objects.

The removal of the 8(a) language is a critical development. Historically, this clause required the SEC to manually declare a filing effective, often prolonging approval timelines. By eliminating it, Franklin Templeton implies it has addressed key regulatory concerns and is prepared for a swift launch. This comes amid a surge of activity in the crypto ETF space, with multiple firms vying to offer regulated exposure to alternative tokens beyond Bitcoin and Ethereum. Franklin Templeton's revised filing places it among the leading contenders for an XRP ETF listing, which could mark a pivotal moment for the token's institutional adoption.

The XRP ETF landscape gained momentum in November 2025 with the launch of the first U.S. spot XRP ETF by Canary Capital. The XRPC fund, trading on Nasdaq, opened with $58 million in trading volume on its first day, outpacing even the debut of Bitwise's Solana ETF. This success was fueled by regulatory clarity following the SEC's August 2025 settlement in its long-running lawsuit with Ripple, which ruled that secondary market XRP transactions do not constitute securities offerings. The decision alleviated a major hurdle for ETF approvals and bolstered institutional confidence in XRP's viability as an investable asset.

Franklin Templeton's move has drawn attention in the context of missed opportunities by larger players. Crypto advocate Paul Barron highlighted that BlackRock, which dominated the Bitcoin ETF race, has yet to file for an XRP product, allowing competitors like Canary to seize first-mover advantage. "BlackRock missed this one-the battle is on now," Barron tweeted, noting that the XRP ETF's strong debut volume underscored unmet demand. Analysts suggest BlackRock may yet enter the market, but the window for early adoption is narrowing.

The potential approval of Franklin Templeton's XRP ETF reflects broader shifts in institutional finance. XRP's utility as a cross-border payment solution, backed by partnerships with banks like Santander and Standard Chartered, positions it as more than a speculative asset. An ETF would enable traditional investors to access this infrastructure without navigating the complexities of crypto wallets or exchanges. Furthermore, the product's structure-holding XRP in a custodial trust and mirroring its price- could stabilize the token's liquidity and reduce volatility by channeling institutional capital into regulated channels.

Market reactions to XRP ETF developments have been mixed. On-chain data shows 216 million XRP tokens withdrawn from exchanges ahead of the Canary launch, signaling investor optimism. However, whale activity revealed profit-taking, with large holders reducing positions by 10 million XRP in the days preceding the ETF's debut. Technical analysts remain divided, with some predicting a rally toward $5 by year-end if institutional inflows continue.

As Franklin Templeton advances its filing, the SEC's response will be critical. While the agency has historically delayed crypto ETF approvals, the precedent set by Bitcoin and Ethereum products suggests a more expedient review for well-prepared applications. If approved, Franklin Templeton's XRP ETF could catalyze further innovation in digital asset investing, expanding access to a token that has long been sidelined by regulatory uncertainty.