Reuters reported on March 11 that Franklin Templeton intends to launch an exchange-traded fund (ETF) that will follow the spot price of XRP, a cryptocurrency, indicating a growing interest among asset managers in digital assets besides bitcoin.

This move by Franklin Templeton, outlined in their filing on Tuesday, is part of a trend of ETF filings tracking spot cryptocurrencies by various asset managers. This trend anticipates a more favorable regulatory environment from the Securities and Exchange Commission under President Donald Trump.

In addition to the XRP-focused ETF, Franklin Templeton also filed for another ETF last month. Earlier in January, Grayscale Investments introduced a similar product.

XRP, the fourth-largest cryptocurrency globally, developed by U.S. crypto company Ripple, boasts a market capitalization of approximately $124 billion, according to CoinGecko data.

XRP is highlighted as among the cryptocurrencies favored by Trump and has shown significant growth, tripling in value over the past year.

Franklin's XRP-tracked ETF is slated for listing on the Cboe BZX Exchange, with Coinbase chosen as the custodian for the fund's XRP assets.