With 17 XRP ETF filings and counting, a regulatory green light may be closer than expected.
- Franklin Templeton filed an S-1 form with the U.S. SEC to launch an XRP ETF. Altcoin ETF momentum grows, with rising approval odds for Solana, Cardano, and Dogecoin ETFs.
The growing momentum around altcoin ETFs in 2025 has propelled major asset managers into the race, with Franklin Templeton becoming the latest contender.
Franklin Templeton files for XRP ETF
The firm recently filed an S-1 form with the U.S. Securities and Exchange Commission (SEC) to launch Ripple [XRP] ETF, further expanding its crypto-focused offerings.
This move follows Franklin Templeton’s earlier filing for a Solana [SOL] ETF and adds to its existing portfolio of spot Bitcoin [BTC] and Ethereum [ETH] ETFs.
Notably, the firm’s entry into the XRP ETF market comes amid a wave of similar filings, totaling 17 so far, underscoring the rising institutional interest in XRP.
For those unaware, the surge in altcoin ETF applications has been particularly pronounced since President Donald Trump’s return to office, signaling a shifting regulatory landscape that appears more receptive to cryptocurrency investments.
With investor sentiment turning increasingly bullish, the competition among asset managers to capitalize on the growing demand for crypto ETFs is reaching new heights.
Source: Kenny Nguyen/X
Other asset managers in the race
Franklin Templeton’s entry into the XRP ETF race places it alongside major asset managers such as 21Shares, Canary Capital, Grayscale, WisdomTree, and Bitwise, all of whom have already filed for similar offerings.
As of now, the U.S. SEC has acknowledged the 19b-4 filings from 21Shares, Bitwise, and Grayscale, positioning them ahead in the approval process.
Hence, for Franklin Templeton to remain competitive, it must also submit its own 19b-4 filing with the SEC, which would formally initiate the regulatory review.
Once acknowledged, the application will be recorded in the Federal Register, setting the clock in motion for the Commission to either approve or reject it.
Polymarket trend and price action
That being said, Polymarket data indicates growing optimism around the approval of a Ripple ETF in 2025, with 75% of bettors now predicting a positive outcome.
This marks a 5% increase following Franklin Templeton’s recent filing, reversing an earlier dip in sentiment.
The broader crypto market has also turned bullish, with XRP gaining 3.62% in the past 24 hours—outpacing both Bitcoin and Ethereum’s daily increases.
Other altcoin ETFs and their current status
Beyond XRP, enthusiasm for other altcoin ETFs remains strong, with approval odds for a Solana ETF at 87%, Cardano ETF at 69%, and Dogecoin ETF at 68%, reflecting the market’s growing confidence in regulatory acceptance.
This coincided with, Cboe BZX filing with U.S. regulators to integrate staking into Fidelity’s Ether ETF, signaling a growing interest in expanding functionality beyond traditional spot holdings.
Source: Walter Bloomberg/X
Ergo, with altcoin ETFs gaining momentum, the question remains—will they forge their own path or follow Bitcoin and Ethereum’s lead?
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