Another important step has now been taken in the Cryptocurrency Market. Franklin Templeton, a reputed investment management company, has recently filed a S-1 registration form with SEC (Securities and Change Fee), so that it can launch XRP ETF (Change-Trained treasure). This step has been taken by the company after registering the Franklin XRP consider in the first delaware.
Now, Franklin is working towards launching XRP ETF with other companies like Templeton, BitWise, Grayscale and Wisdomtree.
Attempt to launch XRP ETF of Franklin Templeton
This ETF of Franklin Templeton will be launched under CBOE BZX Change and will provide investors a new way of investment in XRP. The XRP, which is at the front rank in the market cap of cryptocurrency, which will now be more accessible. Under this ETF, XRP Property will be kept secure by Coinbase Custody, while coinbase will serve as its prime broker. The Net Asset Value of this fund (NAV) CF CF XRP-Buck Reference will be detained through fee.
SEC review process and XRP ETF possibilities
SEC had earlier approved the spot ETFs of Bitcoin and Etreum and is now considering XRP ETFS. Many companies such as BitWise, Grayscale and Wisdomtree have applied to launch the XRP ETF. The review process of SEC takes place in a 240 -day period and the application of companies like Grayscale was already filed in February. The XRP ETF can be launched after the approval of SEC.
Despite the Legal Controversies of the XRP, the impact of the case in the court between SEC and Ripple Labs does not show the effect on the XRP market. After the news of ETF application XRP value I had an increase of 8%, which reflects its stable performance. If the price of XRP persists above $ 2.04, it is likely to increase further in future. The next resistance points are at $ 2.25 and $ 2.70. These figures provide positive signals for the future of XRP.
Conclusion
Franklin Templeton’s move to launch XRP ETF can be a historic initiative, which will create new opportunities for XRP investors. After the completion of SEC’s review process and approval of XRP ETF, this cryptocurrency can be more prominent. XRP’s recent price and its strong support areas show that it can become even stronger in the future.
Given the XRP market conditions, its price remains stable, and its future is expected to increase further. The final decision of SEC’s review process can bring import change in the XRP market, making investors invested in XRP with more confidence.
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