Grayscale and Franklin XRP ETF To Go Live on Nov 24

The post Grayscale and Franklin XRP ETF To Go Live on Nov 24 appeared first on Coinpedia Fintech News

Grayscale, one of the biggest asset managers with over $35 billion under management, has hinted that its long-awaited XRP ETF could finally go live on November 24.

And it may not be alone. Senior ETF analyst James Seyffart also says Franklin Templeton might launch its own XRP ETF on the very same day.

Grayscale XRP ETF To Launch on Nov 24

According to SEC filings, Grayscale updated its S-1 with the SEC on November 3, which triggered a 20-day countdown. Once that countdown ends, the filing becomes active automatically if the SEC does not respond. 

This puts the expected launch date on November 24, bringing Grayscale closer to listing the XRP ETF on NYSE Arca under the ticker GXRP.

Following this launch, Grayscale will join Bitwise and Canary Capital in offering simple and regulated ways for people to invest in XRP. This gives everyday investors a safer and easier way to get exposure to XRP without handling exchanges or private wallets.

Franklin Templeton Could Step In on the Same Day

While Grayscale is taking the lead, Franklin Templeton is not far behind. The company recently filed Form 8-A with the SEC, which prepares its “Franklin XRP ETF” for listing on NYSE Arca. This kind of filing usually signals that a launch is close.

ETF analyst James Seyffart believes Franklin Templeton might also go live on November 24, turning the day into one of the biggest ETF launch events in XRP’s history. 

If that happens, XRP could see two major Wall Street firms enter the market on the very same day.

Dogecoin ETF Could Be Bonus

Meanwhile, Seyffart added another interesting note, Grayscale’s Dogecoin ETF may also be ready for a surprise launch. Although the SEC has not confirmed a schedule, Grayscale has been steadily converting its crypto products into ETFs, which strengthens this possibility.

If all of these products go live together, November 24 could mark one of the biggest ETF launch days in XRP history.

As of now, the XRP price is trading around $2.12, reflecting a slight decline, with a market cap of approximately $128 billion.