Franklin Templeton’s XRP ETF: Same Game, New Rules? 🤑💸

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In this grand ballet of capital, where every pirouette is a filing and every bow a regulatory nod, Franklin Templeton has taken to the floor with a revised S-1 for its XRP Trust. The amendment, dated November 4, 2025, is less a legal document and more a Shakespearean soliloquy-“To delay, or not to delay, that is the question.” The answer, it seems, is “Not to delay.”

Our intrepid ETF analyst, James Seyffart, observed on X (formerly Twitter) that the firm has axed the 8(a) delay clause, that pesky provision which once allowed the SEC to dawdle over approval timelines like a tea-soaked toff in a pinstripe. Previously, Franklin Templeton had kowtowed to this tradition, but now it declares, “Nay, we shall be effective in 20 days unless you stop us!” A bold move, or perhaps a desperate one? Only the SEC knows, and they’re not talking.

The trust, which will hoard XRP like Scrooge McDuck with a blockchain fetish, relies on Coinbase Custody to safeguard the digital loot and BNY Mellon to babysit the cash. Its proposed listing on Cboe BZX Exchange borrows liberally from the playbook of recently approved crypto ETFs-because why invent a new genre when the old one still sells tickets?

This isn’t mere folly; it’s a trend. Bitwise and Canary Funds, those other Wall Street minstrels, have similarly pruned their delay clauses, likely spurred by the SEC’s recent performance of bureaucratic foot-dragging during the October government shutdown. As journalist Eleanor Terrett noted, these firms are now playing a game of “Speed ETF,” where the only rule is to outpace the regulators.

Will this fast-track gambit pay off? Perhaps. After all, SOL, LTC, and HBAR all launched last month using similar tactics. Yet the SEC, that most capricious of patrons, could still intervene and ruin the party. But then again, who needs rules when you can rewrite them? 🤡🕰️

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2025-11-07 11:11