Franklin Templeton launched the Franklin XRP ETF (NYSE:XRPZ), providing investors with regulated exposure to XRP (CRYPTO: XRP), the digital asset driving fast and affordable cross-border payments. The ETF invests in a way that seeks to track, before fees and expenses, the price of XRP, using the CME CF XRP-Dollar Reference Rate (New York Variant).
The launch lands during a bustling stretch for XRP ETFs, with several issuers hitting the market almost at once — and traders piling in.
First-Hour Volumes Top $13.9 Million, Bitwise Leads the Pack
Per data from Coinpedia, the first hour of trading across the newly launched XRP ETFs saw a combined $13.94 million in turnover, ranking among the strongest debuts for a digital-asset ETF cluster.
Bitwise XRP ETF (NYSE:XRP) dominated early action with 195,631 shares traded (~$4.54 million).
The Canary Capital XRP ETF (NASDAQ:XRPC), which launched on Nov 13, came in with 192,638 shares valued at approximately $4.26 million.
The Franklin XRP ETF logged 176,191 shares, though the value was ~$3.00 million due to pricing.
Grayscale XRP Trust ETF (NYSE:GXRP), which launched today along with XRPZ, trailed with 28,045 shares, or ~$1.13 million.
Why XRP?
Franklin Templeton’s Head of ETF Product & Capital Markets, David Mann, stated that XRPZ offers a clear, regulated entry point to a digital asset increasingly integrated into the global settlement infrastructure.
XRP runs on the XRP Ledger, a decentralized, open-source blockchain launched in 2012 for payments and tokenization. It uses a federated consensus model that allows for near-instant settlement, very low fees, and low energy consumption- all of which make it a preferred tool for cross-border remittances and bank-to-bank transfers. The relatively low correlation of XRP to traditional markets also provides differentiated exposure for crypto portfolios.
Franklin's Head of Digital Assets Roger Bayston described XRP as "a foundational building block" within diversified digital portfolios, highlighting the ETF's regulated custody and daily transparency. Part of a Broader Crypto ETF Push XRPZ joins Franklin Templeton's growing U.S. digital-asset suite, including the Franklin Bitcoin ETF (BATS:EZBC), Franklin Ethereum ETF (BATS:EZET) and Franklin Crypto Index ETF (BATS:EZPZ), reinforcing the firm's bid to offer institutional-grade access to the crypto economy.
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