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$1.5 Trillion Giant Franklin Templeton Updates XRP ETF Filing - U.Today

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US financial giant Franklin Templeton, which boasts $1.5 trillion in assets under management, has updated the S-1 filing for its XRP exchange-traded fund (ETF) filing

The S-1 filing is a registration document that an issuer files with the SEC in order to launch a publicly traded product, which is an XRP ETF in this particular case

The updated filing comes with shortened Section 8 (a) language, which is a clause in the Securities Act that makes it possible for the regulator to delay a registration’s effectiveness

The latest move means that the SEC is now preparing for the imminent approval of the registration

This comes after Bitwise and Canary Fund also updated their filing

XRP is still in the read

Despite the growing ETF momentum, the price of the ETF token remains in the red. The cryptocurrency has lost more than 14% over the past week amid a broader cryptocurrency market correction

XRP’s future price action will likely depend on the level of demand that spot-based ETFs will experience

XRP0.31%
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