Franklin Templeton Names Coinbase Custody for Spot XRP ETF Listing
Franklin Templeton has amended its S-1 and selected Coinbase Custody as asset custodian for its proposed Spot XRP ETF. The $1.6 trillion manager plans to list the Spot XRP ETF on the Cboe BZX Exchange on November 18, pending SEC approval. Coinbase provides prime broker services, CSC Delaware Trust Company oversees trust management, and holdings will track the CME CF XRP–Dollar Reference Rate. The ETF now appears on DTCC’s active list, marking the final stage before SEC clearance. Market watchers expect the Spot XRP ETF to boost XRP liquidity, drive institutional participation, and catalyze price gains, while analysts note recent XRP pullbacks reflect broader market weakness rather than ETF activity.
Bullish
The launch of Franklin Templeton’s Spot XRP ETF represents a key institutional milestone that is likely to increase XRP liquidity and attract new capital. In the short term, the DTCC listing and pending Cboe BZX Exchange debut can trigger positive market sentiment and a price bump as traders anticipate greater access and reduced custody risk. Over the longer term, the involvement of a $1.6 trillion asset manager and regulated entities like Coinbase Custody and CSC Delaware Trust Co. should bolster investor confidence, support sustained inflows, and potentially narrow bid-ask spreads. While analysts note recent XRP pullbacks were driven by broader market factors, the ETF’s approval would be a structural catalyst for renewed demand and higher trading volumes.