On March 11, Franklin Templeton announced its plan to introduce an exchange-traded fund (ETF) that will mirror the spot price of the cryptocurrency XRP, signifying the growing interest of asset managers in digital assets beyond bitcoin.

The filing from Franklin represents the most recent addition to a series of spot cryptocurrency ETF filings by asset managers, anticipating a more favorable reception from the Securities and Exchange Commission under the leadership of President Donald Trump's administration.

Moreover, last month, Franklin Templeton also submitted a filing for an ETF tracking XRP. In January, Grayscale Investments launched a similar product.

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

Notably, XRP is among the cryptocurrencies that Trump aims to incorporate into a new financial system. Over the past year, the digital asset has more than tripled in value.

Franklin's XRP-tracking ETF is scheduled to be listed on the Cboe BZX Exchange. The company has enlisted Coinbase as the custodian for the fund's XRP holdings.