#What Does Franklin Templeton's XRP ETF Approval Mean?
Franklin Templeton has received approval to list its XRP ETF on NYSE Arca, a significant development in the investment landscape. This fund, named the Franklin XRP Trust, will trade under the ticker symbol XRPZ. Importantly, it will feature a competitive annual sponsor fee of 0.19% of the net asset value. For a limited time, Franklin intends to waive this fee entirely for the initial $5 billion in assets until May 31, 2026.
This approval is a key milestone as Franklin Templeton joins other fund managers in introducing regulated investment products linked to XRP in the U.S. Earlier this month, Canary Capital and Bitwise Asset Management launched their own spot XRP ETFs, indicating a growing trend in the market.
Furthermore, Grayscale is set to launch its spot XRP and Dogecoin ETFs shortly, following its achievement of final clearance. This indicates a robust movement towards the inclusion of cryptocurrencies in mainstream financial products, expanding options for retail investors.
As of the latest data, XRP is priced at over $2, reflecting a nearly 3% increase in the past 24 hours, according to CoinGecko. This price fluctuation underscores the dynamic nature of the cryptocurrency market, presenting opportunities for investors to enter or adjust their positions.