Chicago Board of Options Exchange (CBOE) Files to List Franklin Templeton XRP ETF
Top U.S. equities market operator, Chicago Board of Options Exchange (CBOE), has submitted a 19b-4 filing with the SEC to list and trade shares of Franklin Templetons XRP ETF on its BZX Exchange. The application follows Franklin Templetons S-1 filing seeking to launch an ETF tracking the price performance of XRP. According to Cboes filing, Franklins prospective XRP ETF will be listed under BZX Rule 14.11(e)(4), governing the Commodity-Based Trust Shares. https://twitter.com/thecryptobasic/status/1900170921886797937?t=0d5fTjyYhnBdLVk1RTtD9A&s=19It indicated that Franklin would serve as the sponsor, Coinbase would be the custodian of the XRP, and Delaware Trust Company would be the sole trustee. Next Actions Cboes filing represents a major step toward the potential launch of Franklin Templetons XRP ETF. Following the filing, the U.S. SEC has about two weeks to acknowledge the exchanges application relating to Franklins spot-based XRP ETF. Once acknowledged, the SEC will have a duration of 240 days from the date of the acknowledgment to communicate whether to approve or deny the ETFs launch. The regulator will publish Cboes 19b-4 application in the Federal Register for public comments during this period. Rising Institutional Interest in XRP The development comes amid growing institutional interest in XRP. Several asset managers, including Canary and Grayscale, have filed to launch XRP ETFs in the United States. Since October 2024, the SEC has received at least 15 XRP ETF filings from top asset managers. This makes XRP the top crypto asset with the most ETF filingsurpassing Bitcoins 11 and Ethereums eight. Cboe to List and Trade Most XRP ETFsInterestingly, most of these funds will likely debut on the Cboe BZX Exchange. Last month, the exchange filed a similar application to list and trade WisdomTree, 21Shares, and Canary Capitals spot XRP ETFs. The SEC has acknowledged these filings, kicking off the 240-day approval deadline. On March 11, it postponed its decision on selected XRP ETF exchange filings, including one submitted by Cboe on behalf of 21Shares. Following the postponement, the SEC set May 22 as the new date for its decision on 21Shares spot XRP ETF.
Text source: The Crypto Basic
