XRP jumps 8% as Franklin Templeton, Grayscale ETFs begin trading
The investment vehicle tied to XRP launched amid other offerings from Grayscale, Bitwise Asset Management and Canary Capital.
Asset management company Franklin Templeton launched an exchange-traded fund tracking the XRP token on the NYSE Arca amid regulatory approvals clearing the way for other crypto investment vehicles.
On Monday, the Franklin XRP ETF launched on the NYSE Arca under the ticker XRPZ, providing investors with access to the cryptocurrency. Its trading debut coincides with the launch of the Grayscale XRP Trust ETF (GXRP) and follows other similar launches from Bitwise Asset Management and Canary Capital.
XRP (XRP) is the native asset of the XRP Ledger, an open-source blockchain developed by Ripple. The cryptocurrency has risen 8.25% over the past 24 hours, according to Cointelegraph Markets data.