Franklin Templeton, with assets under management exceeding $1.5 trillion, has officially joined the competition for XRP ETF. According to the preliminary prospectus submitted on March 11, Franklin XRP Trust will issue shares of Franklin XRP ETF, which will mainly hold XRP held by the custodian on behalf of the fund, aiming to reflect the overall performance of the XRP price.

Franklin Holdings, LLC will act as the sponsor of the trust and fund, while Coinbase Custody Trust Company will serve as the custodian of the fund's XRP assets.