Franklin Templeton debuts XRPZ ETF, joining growing crypto fund offerings
Quick Take The Franklin XRP ETF, ticker symbol XRPZ, launched on Monday. Franklin Templeton follows Grayscale, Canary Capital and REX Shares, which have all now launched XRP ETFs.
Asset management firm Franklin Templeton has introduced its XRP exchange-traded fund, joining a widening field of crypto funds hitting the market.
The Franklin XRP ETF, ticker symbol XRPZ, launched on Monday on NYSE Arca, and looks to reflect the price of XRP.
"Blockchain innovation is driving fast-growing businesses, and digital asset tokens like XRP serve as powerful incentive mechanisms that help bootstrap decentralized networks and align stakeholder interests," said Roger Bayston, head of digital assets at Franklin Templeton, in a statement .
Franklin Templeton follows Grayscale , Canary Capital and REX Shares , which have all now launched XRP ETFs. XRP is the fourth-largest cryptocurrency by market capitalization . It is associated with Ripple Labs and is designed to enable low-cost and fast international money transfers.
Franklin Templeton, which has over $1.5 trillion in assets under management, previously debuted other crypto ETFs, including ones tracking Bitcoin and Ethereum.
"Together, these funds underscore the firm’s commitment to offering secure, transparent, and institutional-grade solutions that help investors navigate the evolving digital asset landscape," the firm said on Monday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
After the "Black Week" for tech stocks, Wall Street calls for "bottom fishing"
Morgan Stanley has made it clear that "the next two to three weeks are the time to increase positions." Ed Yardeni characterizes the current downturn as a "correction" rather than the bursting of a bubble. Major Wall Street institutions have an average year-end target for the S&P 500 of 7,973 points. However, most strategists believe that the direction of AI policy remains the largest variable.
CoreWeave writes to Texas governor-elect seeking "data center consultation"
In this open letter, Michael Intrator stated that CoreWeave "strongly supports" Hinojosa's principled position that the growth of data centers must benefit the people of Texas. "We welcome the opportunity to work with your transition team to responsibly advance approved projects and to establish clear and lasting standards for future developments," he said.
What Would Bitcoin Look Like Without the Trump Effect?
Crypto prices
More
