Franklin Templeton Expands Digital Asset Offerings with XRP ETF
Franklin Templeton introduced its XRP exchange-traded fund on Monday, expanding the asset manager's crypto offerings as institutional demand for digital assets continues growing. The Franklin XRP ETF trades under ticker symbol XRPZ on NYSE Arca.
The fund aims to track XRP price performance, providing regulated exposure to the fourth-largest cryptocurrency by market capitalization. XRP is linked to Ripple Labs and designed for fast, low-cost international money transfers.
Roger Bayston, head of digital assets at Franklin Templeton, stated that blockchain innovation drives fast-growing businesses. He noted that digital asset tokens like XRP function as incentive mechanisms that bootstrap decentralized networks and align stakeholder interests.
Franklin Templeton manages over $1.5 trillion in assets and has previously launched Bitcoin and Ethereum ETFs. The firm emphasized its commitment to offering secure, transparent, institutional-grade solutions for navigating the evolving digital asset landscape.
Grayscale Debuts XRP and Dogecoin Trust ETFs
Grayscale also debuted its XRP Trust ETF (GXRP) on NYSE Arca the same day, alongside the first U.S. Dogecoin Trust ETF (GDOG). Both Grayscale products charge zero management fees for three months or until reaching $1 billion in assets, after which fees rise to 0.4%.
XRPZ carries a 0.2% annual sponsor fee, waived on the first $5 billion in assets until May 2026. This makes Franklin Templeton's offering among the lowest-cost regulated XRP investment options for U.S. investors.
Krista Lynch, Senior Vice President of ETF Capital Markets at Grayscale, said GXRP's debut represents another step in broadening access to the growing XRP ecosystem. The fund offers efficient tracking and straightforward exposure for investors.
Grayscale's GDOG provides exposure to a network that thousands of users leverage daily for fast, low-cost transactions. Lynch noted that Dogecoin has evolved from internet culture to real-world utility, aligning with objectives to make digital assets more accessible.
Competitive Landscape for XRP ETFs
REX Shares and Canary Capital previously launched their own XRP ETFs, establishing a competitive landscape among asset managers that target crypto investors seeking regulated fund vehicles.