The race to launch the first XRP Spot ETF is officially heating up and Franklin Templeton just made a major move that signals it’s getting close to the finish line.The global investment giant has quietly updated its XRP ETF filing, removing the 8(a) clause, which could have delayed approval by the U.S. Securities and Exchange Commission (SEC).
Franklin Templeton Drop 8(a) Clause
On November 4, Franklin Templeton filed an updated S-1 for its XRP ETF, removing the “8(a)” clause, a rule that previously allowed the SEC to delay approval at its discretion. This change could allow the ETF to become automatically effective after the 20-day waiting period, even if the SEC remains inactive due to a government shutdown.
Meanwhile, ETF experts analyst James Seyffart confirmed the update, noting it reflects Franklin Templeton’s clear intent to speed up the launch and bring the fund to market as soon as possible.
Experts say the approval of an XRP spot ETF could attract major institutional inflows, as investors look for exposure beyond Bitcoin and Ethereum. With XRP’s strong use case in cross-border payments and Ripple’s growing network of banking partners, many believe this move could mark a turning point for XRP adoption in traditional finance.
Institutions Show Growing Interest in XRP ETFs
Franklin Templeton’s latest update puts it alongside Bitwise and Canary Funds, who also revised their XRP ETF filings to speed up approval. Canary Funds is eyeing a November 13 launch, while Bitwise confirmed plans to list an XRP ETF soon.
These quick moves show rising institutional demand for XRP, which is now being seen as more than just a crypto token, it’s gaining recognition for its real-world payments use. Although the SEC hasn’t made a final decision yet, Franklin Templeton’s update hints that approval could be close. If cleared, XRP would join Bitcoin and Ethereum as a tradable spot ETF.
Impact on XRP Price
Despite the excitement around Franklin Templeton’s XRP ETF filing, the XRP price hasn’t reacted as many expected. Instead of climbing, it slipped by 1.4% in the past 24 hours, dropping to around $2.24, with its market cap now sitting near $134 billion.
This mild pullback shows that traders are waiting for official confirmation from the SEC before making big moves. Analysts, however, remain optimistic. They believe that once the XRP Spot ETF gets approved, it could trigger a strong rally potentially pushing XRP back toward its all-time high of $3.80.
Trust with CoinPedia:
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
Investment Disclaimer:
All opinions and insights shared represent the author’s own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored and Advertisements:
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed