Franklin Templeton's Strategic Filing Update
Franklin Templeton is making significant strides towards launching the first XRP Spot ETF. In a move that underscores their urgency, the global investment firm has updated its S-1 registration for the proposed XRP ETF within a 24-hour period. This latest update specifically removes the 8(a) clause, a provision that previously allowed the U.S. Securities and Exchange Commission (SEC) to delay approval.
According to analyst James Seyffart, this strategic revision indicates Franklin Templeton's strong intent to expedite the approval process and bring their XRP ETF to market as swiftly as possible. The removal of the 8(a) clause means the filing can now automatically become effective after the standard 20-day waiting period, even if the SEC faces inactivity due to a government shutdown. This proactive step signals Franklin Templeton's determination to be a frontrunner in offering regulated XRP exposure to investors.
NEW: @FTI_US files updated XRP ETF s-1 with shortened 8(a) language. Looking to launch this month. pic.twitter.com/0KxAYiRdSs
— James Seyffart (@JSeyff) November 4, 2025
Intensifying Competition in the XRP ETF Market
The race to launch an XRP Spot ETF is heating up, with other prominent firms actively pursuing approval. Bitwise and Canary Funds have also revised their XRP ETF filings, aiming to accelerate their respective launch timelines. Canary Funds is reportedly targeting a November 13 launch, while Bitwise has confirmed that its XRP ETF plans are progressing rapidly.
These developments reflect a growing institutional interest in gaining exposure to XRP. Given Ripple's expanding network of banking partners and XRP's established utility in facilitating cross-border payments, many investors view XRP as a practical digital asset with significant real-world applications, beyond mere speculative investment. The potential approval of an XRP Spot ETF could therefore serve as a catalyst for broader mainstream access and adoption of cryptocurrencies.
Bitwise and Grayscale Advance XRP and Dogecoin ETF Plans
Bitwise and Grayscale are actively moving forward with their XRP ETF proposals, intensifying the competitive landscape among asset managers. This progress continues even as the SEC operates under limited capacity due to the ongoing government shutdown. Bitwise has proposed a management fee of 0.34% for its XRP ETF, while Grayscale has announced a 0.35% fee for both its XRP and Dogecoin ETFs.
These filings follow the successful launches of their Solana ETFs, which have garnered substantial investor interest and further solidified confidence in crypto-based investment products.
Market Sentiment and XRP's Future Outlook
Amidst the anticipation surrounding potential ETF approvals, XRP's market performance has remained relatively stable. The token experienced a slight decline of 1.4% in the past 24 hours, trading around $2.24 with a market capitalization of approximately $134 billion. Many market participants appear to be adopting a wait-and-see approach, awaiting official confirmation from the SEC before making significant trading decisions.
Franklin Templeton's decisive update to its filing strengthens its position in the XRP ETF race and highlights a potentially pivotal moment for digital assets within the traditional finance sector. The approval of an XRP Spot ETF would position it alongside established Bitcoin and Ethereum ETFs, marking a new era of institutional engagement with the cryptocurrency market.