Is the Franklin XRP ETF the Next Big Thing? You Won’t Believe What Happens Next! 😲

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In the bustling heart of Chicago, where the wind carries whispers of fortunes made and lost, a curious tale unfolds. Colin Wu, a scribe of the digital age, has reported that the CBOE BZX exchange, that grand old dame of trading, has taken a bold step. They’ve filed a submission to the SEC, a request on behalf of Franklin Templeton, to trade its XRP exchange-traded fund. Ah, the sweet scent of ambition wafts through the air! 🌬️

The Cboe BZX Exchange is submitting a proposed rule change (19b – 4 filing) to the US Securities and Exchange Commission to list and trade shares of the Franklin XRP ETF, one of the Franklin XRP Trust Series.

— Wu Blockchain (@WuBlockchain) March 13, 2025

CBOE files 19b-4 application on XRP ETF

With the form 19b-4 in hand, the CBOE is strutting its stuff, hoping to catch the SEC’s eye. Earlier this week, Franklin Templeton, that titan of finance, threw its hat into the ring, seeking permission to launch its own XRP ETF. Meanwhile, the SEC, in its infinite wisdom, decided to delay decisions on two other XRP ETFs filed by Grayscale and Canary Capital. Because why not keep everyone on their toes? 🤹‍♂️

This filing is but the second step in a dance that began with Franklin Templeton’s direct appeal to the SEC, where they promised that their ETF would trade on CBOE, with Coinbase Custody stepping up as the trusty vault for their XRP. Now, the exchange has confirmed its intentions, like a suitor declaring love under the moonlight.

Franklin Templeton, a behemoth in the financial world, manages a staggering $1.53 trillion in assets. It’s like a giant in a land of dwarfs, and it’s not alone in this race. Other wealth managers, like Bitwise and WisdomTree, have also thrown their hats into the XRP ETF ring. It’s a veritable stampede! 🐴

Fund managers start XRP ETF race

But hold your horses! Two of those applications have hit a snag, delayed like a train stuck in a snowstorm. These filings came after the SEC, in a rare moment of clarity, approved spot Bitcoin and Ethereum ETFs in early 2024. It seems the floodgates have opened, and now everyone wants a piece of the crypto pie—XRP, SOL, DOGE, you name it!

In a twist of fate, Gary Gensler, the former SEC chief who once ruled with an iron fist, has stepped down. Now, Mark T. Uyeda, the acting chairman, is at the helm, promising a fresh approach to altcoins. Under his watch, the SEC has begun to drop lawsuits against major crypto firms like Coinbase and Robinhood. It’s like a spring cleaning for the regulatory house! 🧹

Should the XRP ETF receive the green light, it could spark a surge in demand for XRP itself. After all, spot ETF issuers need to gather the underlying asset to back their shiny new funds. Just look at what happened with Bitcoin when its spot ETFs were approved last year—chaos and excitement reigned supreme!

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2025-03-13 17:17