Franklin Templeton drops delay clause from XRP ETF filing as approval speculation grows

Franklin Templeton and Grayscale Investments have filed updated applications for XRP exchange-traded funds with the SEC, removing delaying provisions that could extend regulatory review timelines.

Franklin Templeton eliminated the 8(a) clause from its S-1 registration statement on November 4, while Grayscale filed its second amendment to the Grayscale XRP Trust on November 3.

The synchronized filings have fueled market speculation that the SEC may be nearing a decision on the first XRP ETF, though no approval timeline has been confirmed by regulators.

Franklin Templeton’s Strategic Filing Sparks Optimism

Franklin Templeton’s decisive update has amplified buzz across crypto circles. The firm, managing over $1.5 trillion in global assets, is already a major player in digital finance, having successfully launched spot Bitcoin (EZBC) and Ethereum (EZET) ETFs earlier this year.

“These filings show Franklin Templeton’s confidence in the market’s maturity and regulatory readiness,” said James Seyffart, ETF Analyst at Bloomberg Intelligence. “The removal of the delaying provision is a strong signal they’re expecting SEC movement soon, possibly within weeks.”

The company’s track record adds weight to this anticipation. Its previous ETF launches attracted over $500 million in institutional capital within their first quarter — a testament to investor demand for compliant crypto exposure. The firm’s move aligns perfectly with growing calls for expanded access beyond Bitcoin and Ethereum, positioning XRP as the next logical ETF candidate.

Grayscale’s Amendment Signals Institutional Alignment

Meanwhile, Grayscale Investments filed its second amendment (Amendment No. 2) to the Grayscale XRP Trust on November 3. The filing designates Edward McGee as Chief Financial Officer and appoints Davis Polk & Wardwell LLP — the same law firm that represented Grayscale in its Bitcoin and Ethereum ETF conversions — as legal counsel.

“Grayscale has built a sophisticated compliance architecture through its Bitcoin and Ethereum ETF journeys,” noted Eric Balchunas, Senior ETF Strategist at Bloomberg. “That experience gives them a clear advantage in navigating XRP ETF approval.”

With $38 billion in digital asset management, Grayscale remains a critical force in institutional crypto adoption. The firm’s consistent engagement with the SEC and legal continuity underscore its methodical approach to securing approval for new asset classes like XRP.

Regulatory Winds Shifting Toward Approval

The XRP ETF approval race is heating up across the industry. In addition to Franklin Templeton and Grayscale, Bitwise and Canary Funds have submitted revised filings, each removing delaying clauses to align with expected November timelines.

This wave of amendments indicates not just competition — but coordination. “What we’re seeing is synchronized positioning,” said John Todaro, Senior Crypto Analyst at Needham & Company. “These asset managers clearly sense the SEC’s stance is evolving.”

Regulatory experts highlight that the SEC’s evaluation hinges on custody frameworks, surveillance-sharing agreements, and investor protection standards — the same pillars underpinning Bitcoin and Ethereum ETF approvals earlier this year.

Market Impact: The Next Frontier for Institutional Crypto

Should XRP ETF approval materialize this month, it would mark a pivotal milestone in the expansion of U.S. crypto investment products. The move could unlock institutional access to XRP — the sixth-largest cryptocurrency by market capitalization — and pave the way for broader altcoin ETF adoption.

“This would be a game-changer for institutional liquidity,” said Michael Sonnenshein, CEO of Grayscale Investments, during a recent CNBC interview. “It reinforces that digital assets like XRP are gaining recognition as investable commodities under proper regulation.”

As November progresses, all eyes remain on the SEC’s review window. If trends mirror previous ETF rollouts, the market could see approval notices within weeks, propelling XRP into the mainstream investment arena.

The synchronized filings from Franklin Templeton and Grayscale underscore an industry in motion — confident, compliant, and anticipating XRP ETF approval.

With institutional infrastructure already in place and regulatory signals aligning, the stage is set for what could become one of the most significant ETF approvals of 2025, redefining crypto accessibility for investors worldwide.