XRP ETF Talks Gain Traction As Ripple CTO Nudges Wall Street Giant Franklin Templeton

David Schwartz, chief technology officer (CTO) of Ripple Labs, recently nudged Franklin Templeton, a global powerhouse in asset management, and highlighted the intrinsic strengths and potential of the XRP Ledger (XRPL), Ripple's blockchain technology. This set the rumor mill abuzz with speculations about a groundbreaking endeavor: the potential launch of an XRP Ledger exchange-traded fund (ETF).

Franklin Templeton made a series of posts on X this week about the cryptocurrency industry, particularly various blockchain networks.

In one of them, the asset management titan said, "We believe as blockchains improve in fees and performance, the potential use cases that are unlocked grow exponentially. Improving the economics and experience for the end user cannot be overstated."

Franklin Templeton also talked about other blockchains outside Bitcoin, especially mentioning Ethereum and Solana as having "much potential" and revealing its intention to "support, monitor and develop on these networks as they grow and mature."

Schwartz commented on this particular post and shilled the XRP Ledger, saying, "I agree @FTI_US! The XRPL's decade-long track record in reliability and stability is unmatched, especially in tokenizing and exchanging both crypto-native and real-world assets."

Although the official X account of Franklin Templeton did not respond to the executive's comment, it was enough to revive hopes that an XRP ETF could be on its way.

It was not the first time the subject of XRP ETF emerged online and hyped the XRP community. It was brought up following the official launch of spot Bitcoin exchange-traded funds (ETFs) in the U.S., particularly after Grayscale added XRP to its list, with one X user commenting, "An XRP ETF is only a matter of time! BlackRock will also jump on the XRP train."

Another instance was when BlackRock CEO Larry Fink refused to provide an answer after being asked about the possibility of an XRP ETF.

It happened when Fox Business senior correspondent Charles Gasparino asked the CEO about XRP ETF in an interview. At the time, Fink insisted, "I can't answer to that."

Ripple Labs CEO Brad Garlinghouse also had a similar response when asked about XRP ETF on several occasions, which has further fanned the flames of speculations within the community.

The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple reached a critical juncture in July 2023 when a presiding judge delivered a pivotal verdict, affirming that XRP, the digital asset in question, does not inherently qualify as a security.

In October, the SEC opted to withdraw its charges related to securities law violations against both Garlinghouse and Chris Larsen, an executive at the company.