A new exchange-traded fund (ETF) linked to XRP
The Franklin Templeton product, known as XRPZ, launched on the same day as Grayscale’s XRP Trust ETF (GXRP).
This addition gives investors regulated access to the XRP token through familiar investment tools. Franklin Templeton’s fund entered the market ahead of similar products from Bitwise and Canary Capital.
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After launching, XRP’s price rose about 8.25%. Trading activity was also strong, with 768,692 shares of Franklin Templeton’s XRPZ exchanged on NYSE Arca during the first day.
Franklin Templeton explained that XRPZ gives a regulated way for investors to engage with a central token in global payment transfers. The fund’s structure combines traditional finance with the benefits of digital assets.
David Mann, head of ETF product and capital markets at Franklin Templeton, commented:
XRPZ offers investors a convenient and regulated way to access a digital asset that plays a foundational role in global settlement infrastructure, through the transparency and oversight of an ETF.
XRPZ is the latest addition to Franklin Templeton’s digital asset group, which joins earlier releases such as its crypto index fund and ETFs tracking Bitcoin
Approval from the Securities and Exchange Commission (SEC) was required before XRPZ began trading on NYSE Arca.
BlackRock recently modified one of its key money-market funds, the BlackRock Select Treasury-Based Liquidity Fund (BSTBL), to comply with new US rules for stablecoins. What changes were included in the BSTBL? Read the full story.
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