Franklin XRP ETF Proposed to Be Traded by CBOE BZX Through 19b-4 Filing
03/13/2025 20:58
Major institutional exchange CBOE BZX files for permission to trade an XRP ETF when it is launched
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Chinese crypto journalist that covers everything to do with the blockchain and cryptocurrency spheres, Colin Wu, has reported that the CBOE BZX exchange based in Chicago has filed a submission to the SEC on behalf of Franklin Templeton to trade its XRP exchange-traded fund.
The Cboe BZX Exchange is submitting a proposed rule change (19b - 4 filing) to the US Securities and Exchange Commission to list and trade shares of the Franklin XRP ETF, one of the Franklin XRP Trust Series.https://t.co/hWqoywIVwp
— Wu Blockchain (@WuBlockchain) March 13, 2025
CBOE files 19b-4 application on XRP ETF
CBOE filed for this permission using a 19b-4 application form. Earlier this week, Franklin Templeton applied to the SEC for launching its own XRP ETF. Following that submission, the US Security and Exchange Commission announced that it delayed the decision on two other XRP ETFs filed for earlier by Grayscale and Canary Capital.
The filing of the 19b-4 form comes as the second necessary step for launching an ETF. First, Franklin Templeton filed directly with the SEC, mentioning that the ETF would trade on CBOE and Coinbase Custody would step forward as the XRP holding platform for Franklin.
Now, the exchange has filed the aforementioned form to confirm that it would trade Franklin XRP ETF shares.
Franklin Templeton is a major financial market player boasting a $1.53 trillion worth of assets under its management. Prior to this, the following wealth managers also filed for an XRP ETF: Bitwise, Canary Capital, 21Shares, Grayscale, and WisdomTree.
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Two of those applications have been delayed as stated above. Those filings came after the SEC gave the green light to spot Bitcoin and Ethereum ETFs in early 2024. After that, several companies have filed for XRP, SOL, and DOGE exchange-traded funds. The Bitcoin and Ethereum funds were approved under the leadership of Gary Gensler who considered BTC and ETH to be commodities, therefore the approved those ETFs.
In January this year, Gensler resigned from the SEC and now the regulator is being spearheaded by the acting chairman Mark T. Uyeda. He announced that he would take a different approach on altcoins. Under him, the regulator has begun dropping the lawsuits initiated by Gary Gensler against major cryptocurrency firms based in the US: Coinbase, Unicorn, Robinhood Crypto.
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An approval of an XRP ETF could potentially increase XRP demand as spot ETF issuers need to accumulate the underlying asset to back the ETFs. This was the case with BTC when last year spot Bitcoin ETFs were approved.