The newly launched ETF linked to XRP commenced trading, alongside similar offerings from Grayscale, Bitwise Asset Management, and Canary Capital.

Franklin Templeton’s XRP ETF began trading on the NYSE Arca under the ticker XRPZ, enabling investors to engage in trading the cryptocurrency. This release coincided with the introduction of the Grayscale XRP Trust ETF (GXRP) and followed launches from Bitwise Asset Management and Canary Capital.

Currently, XRP, the native asset of the XRP Ledger developed by Ripple, has surged by 8.25% in the last 24 hours, as reported by Cointelegraph Markets.

“XRPZ provides a structured and regulated avenue for investors to access a digital asset that is foundational to the infrastructure of global settlements, all within an ETF that ensures transparency and oversight,” stated David Mann, head of ETF product and capital markets at Franklin Templeton.

No data on the influx for Franklin Templeton’s XRP ETF is accessible yet; however, NYSE Arca identified 768,692 shares traded by the publication time. Hunter Horsley, CEO of Bitwise, disclosed that the asset management company’s XRP ETF had approximately $118 million in capitalflow during the previous week.

The inception of the Franklin Templeton XRP ETF follows the company’s recent establishment of a crypto index fund and investment vehicles related to Bitcoin and Ether.

XRP Post-SEC Legal Issues

The introduction of the XRP ETF occurred nearly five years post the SEC’s lawsuit against Ripple and its executives. Eventually, the SEC terminated the case in March with the transition of new leadership and governance, culminating in a $125 million settlement in August.

Franklin Templeton’s ETF launch received approval from the SEC for trading on NYSE Arca.