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Jakarta, Pintu News – Franklin Templeton has filed another S-1 amendment with the US SEC for the XRP (XRP) ETF. The firm plans to launch the product before the end of this month.
Franklin Templeton has filed a revised S-1 that includes concise section 8(a) language for its XRP ETF fund, according to Bloomberg analyst James Seyffart. This important change allows for automatic enrollment once all requirements are met.
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This move removes the SEC’s ability to delay the effectiveness of such ETFs. This tactic has previously been used by other crypto asset issuers to expedite the approval of Bitcoin and Ethereum ETFs earlier this year.
Franklin Templeton’s move comes after a number of other issuers also accelerated their plans. For example, Canary Capital last week also filed an S-1 renewal for its spot XRP ETF. They are targeting a market launch of the product around November 13.
Like Franklin Templeton, Canary also removed the “delay amendment” that previously prevented automatic approval. The firm’s recent track record has set a precedent for other issuers looking to bring digital asset ETFs to Wall Street through strategic filings.
Meanwhile, Bitwise has also filed what analysts call a “final amendment” to their proposed XRP ETF. The filings of the four companies confirm that the fund will trade on the NYSE and charge a management fee of 0.34%.
Interest in Ripple (XRP) coin-based investment products continues to rise. REX-Osprey’s XRPR set a new record with assets under management (AUM) exceeding $100 million. In addition, CME Group expanded its XRP derivatives by introducing new options contracts, following high demand for their futures products.
Read also: XRP Price Prediction: Ahead of Death Cross Formation, Will XRP Fall Below $2?
ProShares also recently applied to launch the ProShares CoinDesk Crypto 20 ETF, a fund that aims to track the performance of the CoinDesk 20 Index, which includes assets such as XRP and Solana.
Meanwhile, CoinShares is also continuing its plans to bring their version of the XRP ETF. The company has just updated its filings with the SEC, including the addition of a planned ticker symbol, “XRPL”, in preparation for a listing on Nasdaq.
With these developments, analysts have started to give positive predictions on the token’s prospects. ChartNerd, in one of its latest posts, mentioned that the current XRP price chart is similar to the pattern before last year’s price rally.
Franklin Templeton’s removal of the section 8(a) delay clause is a strategic move to speed up the approval process. If approved, the ETF could begin trading in the next few days.
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