Franklin Templeton debuts XRPZ ETF, joining growing crypto fund offerings
Quick Take The Franklin XRP ETF, ticker symbol XRPZ, launched on Monday. Franklin Templeton follows Grayscale, Canary Capital and REX Shares, which have all now launched XRP ETFs.
Asset management firm Franklin Templeton has introduced its XRP exchange-traded fund, joining a widening field of crypto funds hitting the market.
The Franklin XRP ETF, ticker symbol XRPZ, launched on Monday on NYSE Arca, and looks to reflect the price of XRP.
"Blockchain innovation is driving fast-growing businesses, and digital asset tokens like XRP serve as powerful incentive mechanisms that help bootstrap decentralized networks and align stakeholder interests," said Roger Bayston, head of digital assets at Franklin Templeton, in a statement .
Franklin Templeton follows Grayscale , Canary Capital and REX Shares , which have all now launched XRP ETFs. XRP is the fourth-largest cryptocurrency by market capitalization . It is associated with Ripple Labs and is designed to enable low-cost and fast international money transfers.
Franklin Templeton, which has over $1.5 trillion in assets under management, previously debuted other crypto ETFs, including ones tracking Bitcoin and Ethereum.
"Together, these funds underscore the firm’s commitment to offering secure, transparent, and institutional-grade solutions that help investors navigate the evolving digital asset landscape," the firm said on Monday.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bank of Canada Says Government Spending Has Not Fueled Inflation; Heavy Crude Oil Discount Hits Eight-Year High
Bank of Canada Governor Macklem stated that government fiscal plans have not yet significantly pushed up inflation, but there are still differences in the market regarding fiscal stimulus and interest rate hikes. Meanwhile, due to rising international shipping costs and intensified competition, the discount for Canadian heavy crude oil has widened to its highest level in eight years.
Alphabet (GOOGL.US, GOOG.US) Re-enters U.S. Municipal Bond Market, Plans to Participate in $1.5 Billion Prepaid Energy Financing Deal
Alphabet, Google’s parent company, is planning to re-enter the U.S. municipal bond market through a $1.5 billion prepaid energy financing deal.
AMD (AMD.US) Q3 Revenue Up 45% Year-on-Year, Reaches Record High; Data Center Business Revenue Nearly Doubles
Data shows that the company’s revenue in the third quarter reached $13.377 billion, a year-on-year increase of 45% and a quarter-on-quarter increase of 16%, setting a new historical high.
Crypto prices
More
