XRP jumps 8% as Franklin Templeton, Grayscale ETFs begin trading

Asset management giant Franklin Templeton just dropped an XRP ETF on NYSE Arca — ticker XRPZ — and the market is already vibing. This comes as regulatory green lights cleared the runway for multiple crypto investment vehicles hitting the market simultaneously.

Franklin's XRPZ ETF launched Monday, giving investors that sweet regulated exposure to XRP. It dropped alongside Grayscale's XRP Trust ETF (GXRP) and follows similar launches from Bitwise Asset Management and Canary Capital — basically everyone's getting in on the XRP ETF action.

XRP — the native token of Ripple's XRP Ledger — is currently trading at $2.25 and has absolutely mooned 8.25% in the last 24 hours according to Cointelegraph Markets data. That's what happens when institutional money starts flowing.

Franklin Templeton's XRP ETF trading volume hit 768,692 shares on day one — not bad for a Monday launch. Meanwhile, Bitwise CEO Hunter Horsley reported their XRP ETF pulled in about $118 million in inflows last week alone. That's serious institutional interest.

This ETF launch comes almost five years after the SEC dragged Ripple and its execs to court — a legal battle that finally ended in March when the SEC dropped the case under new leadership. The whole thing officially wrapped in August with Ripple paying a $125 million settlement. Now we're seeing the payoff: Franklin Templeton's XRP ETF needed SEC approval to trade on NYSE Arca, and they got it.

Franklin Templeton has been building out its crypto portfolio — they previously launched a crypto index fund and ETFs tied to Bitcoin and Ether. Now they're adding XRP to the lineup, showing they're serious about the altcoin game.