TechFlow reported on March 12 that Franklin Templeton, an asset manager with over $1.5 trillion in assets under management, has officially entered the XRP ETF race, according to Nate Geraci, president of The ETF Store.
According to a preliminary prospectus filed on March 11, the Franklin XRP Trust will issue shares of the Franklin XRP ETF. The ETF will primarily hold XRP held in custody by a custodian on behalf of the fund and is designed to track the overall price performance of XRP.
Franklin Holdings, LLC will serve as the sponsor of the trust and the fund, while Coinbase Custody Trust Company will act as the custodian for the fund's XRP assets.
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