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Asset-management giant Franklin Templeton announced on the 18th that it will begin trading its spot XRP exchange-traded fund (ETF), with the product set to list on the Chicago Board Options Exchange (CBOE). The launch comes as U.S. regulators appear poised to approve a total of four spot XRP ETFs this week, with three additional approvals expected over the next 21 days.
According to data from the Depository Trust & Clearing Corporation (DTCC), five major financial institutions, such as Franklin Templeton, Bitwise, Canary Capital, 21Shares, and CoinShares, have filed applications. Market analysts say the activity signals that the approval process has entered its “final phase,” marking a potential turning point for the broader cryptocurrency market.
Accelerated Approval Cycle and Issuer Developments
Canary Capital’s ETF has already received Nasdaq listing approval and is live on the market. Franklin Templeton recently updated its SEC filings, enabling its ETF to take effect automatically once all regulatory requirements are met. The company expects trading to begin on the 18th at CBOE.
Bitwise has submitted its final amendments to the SEC, with its product expected to launch between November 19 and 20. Applications from 21Shares and CoinShares are also moving through their respective review periods, with approvals expected between November 20 and 22.
The accelerated timeline follows the reopening of U.S. government agencies after an early-October shutdown, which had temporarily halted SEC reviews for new crypto products.
Institutional Capital and Liquidity Impact on XRP
Industry participants expect the wave of ETF launches to become one of the largest liquidity events in XRP’s history. Based on early demand seen during the Solana (SOL) ETF debut, analysts estimate potential inflows exceeding USD 1.2 billion.
Institutional interest has already surged:
- Virtu Financial disclosed USD 63 million in XRP holdings.
- Armada Acquisition Corp. II implemented a USD 1 billion XRP-focused financial strategy.
News of Canary Capital’s approval helped lift XRP’s price by 2%, reflecting strong market sentiment.
Technical analysts suggest that with accelerating institutional participation, XRP could begin a recovery toward its all-time high of USD 3.80, a milestone not seen since before Ripple’s long-running legal battle with the U.S. Securities and Exchange Commission (SEC).
Following Ripple’s major legal victory in early 2025, much of the regulatory uncertainty surrounding XRP has eased. The anticipated ETF approvals now appear set to deliver fresh momentum to the asset.
