As we approach the end of 2025, the cryptocurrency investment landscape is poised for potentially significant developments with the anticipated approval of XRP exchange-traded funds (ETFs). Two major asset management firms, Franklin Templeton and Grayscale Investments, have recently made strategic amendments to their filings with the U.S. Securities and Exchange Commission (SEC), indicating that the launch of XRP ETFs could be imminent.
Franklin Templeton’s Strategic Filing Updates
Franklin Templeton, a global leader in asset management with over $1.5 trillion in assets under management, has updated its S-1 registration statement by removing the 8(a) provision. This particular regulatory clause has been known to delay the effectiveness of ETF filings pending SEC approval. The removal of this language suggests that Franklin Templeton is preparing for a potential ETF launch as early as this month.
The firm has previously demonstrated its capability in the cryptocurrency ETF market through the successful launches of the EZBC (Bitcoin) and EZET (Ethereum) spot ETFs. These products collectively attracted over $500 million in institutional capital within their first quarter, underscoring the firm’s significant influence and expertise in this sector.
Grayscale’s Continued Commitment to Cryptocurrency ETFs
On the other hand, Grayscale Investments, managing approximately $38 billion in digital asset products, submitted its second amendment to its Form S-1 on November 3, 2025. This amendment appointed Edward McGee as Chief Financial Officer and named Davis Polk & Wardwell LLP as legal counsel, reinforcing the firm’s readiness for the next steps in the approval process.
Grayscale has previously converted its GBTC (Bitcoin) and ETHE (Ethereum) trusts into spot ETFs following regulatory approval in January 2024. Their established operational frameworks and experience with complex SEC review processes suggest a strategic positioning for the successful launch of an XRP ETF.
Regulatory Environment and Market Context
The recent amendments by Franklin Templeton and Grayscale reflect a broader trend within the asset management industry, where multiple firms are adjusting their strategies in anticipation of XRP ETF approvals. This coordinated preparation across the industry, including actions by other firms like Canary Funds and Bitwise, points to a possibly transformative period in the cryptocurrency investment sector.
The SEC’s rigorous review process, which closely examines custody structures, market surveillance arrangements, and compliance frameworks, remains a critical hurdle. However, the successful navigation of this process by leading firms could pave the way for broader institutional access to XRP and potentially set precedents for future altcoin-based ETFs in the U.S. market.
As the market continues to evolve, the approval and launch of XRP ETFs could serve as a significant milestone, not only for the involved firms but also for the wider landscape of cryptocurrency investments. Such developments would likely catalyze further interest and investment in digital assets, marking another step forward in the integration of cryptocurrencies within traditional financial systems.
With 2025 drawing to a close, the cryptocurrency community and investors alike are keenly watching these developments, as the outcomes could influence investment strategies and market dynamics in the coming years.
Disclaimer: This post is a compilation of publicly available information. MEXC does not verify or guarantee the accuracy of third-party content. Readers should conduct their own research before making any investment or participation decisions.
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