Franklin Templeton, one of Wall Street’s most established institutions with $1.7 trillion under its management, officially launched its XRP exchange-traded fund (ETF) this week, following Bitcoin and Etheruem.
The fund, which began trading on NYSE Arca under the name “Franklin XRP Trust” (XRPZ), offers investors access to XRP through the regulated market. Thus, Franklin Templeton joins the ranks of XRP ETF issuers, following Bitwise, Grayscale, and Canary Capital.
Making a statement after the launch of the XRP ETF, Franklin Templeton Digital Assets President Roger Bayston stated that basket ETFs will attract more attention than single ETFs.
Speaking to The Block, Bayston stated that interest in cryptocurrency ETFs will continue to grow exponentially.
Bayston acknowledged that single altcoin ETFs have attracted a lot of attention, but stated that the next wave of ETFs will be basket ETFs.
“Single altcoin ETFs are very interesting. There is a lot of enthusiasm in the market for single crypto ETFs.
But I think the next wave will be in diversified crypto ETFs.
We look forward to providing our clients with diversified portfolios of cryptocurrencies.”
Finally, Bayston stated that their goal as a company is not to produce single ETF products, and added that they are preparing new ETF models that offer various portfolios of cryptocurrencies for their customers instead of a single altcoin.
Franklin Templeton’s spot XRP ETF, which began trading on November 24, attracted a net inflow of $60 million on its first day of trading.
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/wall-street-giant-franklin-templeton-announces-altcoin-etf-expectations-the-next-etf-wave/
