Franklin Templeton has named Coinbase Custody because the custodian for its proposed spot XRP exchange-traded fund, in response to the ultimate prospectus submitted to the U.S. Securities and Trade Fee.
The asset supervisor, which manages about $1.6 trillion, disclosed that the product is scheduled to start buying and selling on November 18 as soon as regulatory circumstances are met. The transfer kinds one of many first totally structured spot XRP ETF frameworks filed in the US and provides to a rising slate of crypto-related submissions awaiting SEC assessment.
🚨 🚨 BREAKING NEWS:
Coinbase Custody will function the custodian for Franklin Templeton’s spot XRP ETF (ticker: EZRP).That is confirmed within the last prospectus filed with the SEC and in Franklin Templeton’s official bulletins. $1.6T FT will launch tomorrow November 18 pic.twitter.com/O7vMJ0BBez
— Kenny Nguyen (@mrnguyen007) November 17, 2025
The fund, which might commerce on the Cboe BZX Trade, is meant to supply publicity to XRP, at the moment the fourth-largest cryptocurrency by market capitalization. Coinbase Custody would safeguard the ETF’s XRP property, whereas Coinbase, working individually, would act because the prime dealer for commerce execution providers.
CSC Delaware Belief Firm would oversee belief administration obligations as trustee. Franklin Templeton said that the ETF shares can be issued and redeemed at web asset worth by way of licensed contributors, per different spot crypto ETF mechanisms.
Key Disclosures within the Submitting
The web asset worth of the fund could be based mostly on the CME CF XRP -Greenback Reference Price, a typical asset value index that’s sometimes utilized throughout monetary merchandise within the digital-asset sector. Within the framework described within the submitting, the sponsor of the fund, Franklin Holdings, has consented to pay nearly all of typical working bills in alternate with a sponsor charge. The belief is classed as an rising development firm below the JOBS Act, which supplies it with some reporting lodging in its preliminary years of operation.
The SEC acknowledged the submitting inside days of a number of different XRP ETF submissions, together with Grayscale’s February 14 software, which initiated a 240-day assessment course of. The acknowledgment marked the primary time the regulator has formally responded to proposals involving funding merchandise that instantly maintain XRP, even because the SEC continues its separate litigation in opposition to Ripple Labs regarding XRP’s regulatory classification.
Institutional XRP Merchandise Start to Broaden
There was a rise in curiosity in XRP funding autos. Bitwise, just below two days after Franklin Templeton indicated that it might launch, started to announce that it might begin buying and selling its personal spot XRP fund on November 20. The corporate claimed that its product is focused at institutional traders, together with hedge funds and household workplaces, who require a regulated funding within the asset.
The brand new funding merchandise on XRP have been given a lift by their latest market efficiency. Moreover, the Canary Capital XRPC product generated roughly $58 million throughout its preliminary buying and selling on the primary day. An XRP-based product raised $243 million in its preliminary launch, outperforming the $111.7 million raised by the primary launch of the BlackRock Bitcoin ETF.
Market Observations Following ETF Developments
Though XRP has suffered a pullback following these product launches, analysts quoted by market trackers have famous that the downtrend occurred throughout an total weak market interval. In commentary, analysts, together with E. Grag Crypto, Javon Marks, and Ripple Bull Winkle, assert that the latest value motion was not consistent with modifications in ETF buying and selling volumes.
Their publicly issued evaluations cited historic value patterns and former market responses, however didn’t attribute the retracement to ETF-related exercise.
