XRP Jumps 9% as Franklin Templeton and Grayscale Launch Spot ETFs

Core Insights - XRP price surged over 9% to $2.27 following the launch of spot XRP ETFs by Franklin Templeton and Grayscale, indicating a significant shift in market dynamics for XRP [1][2] - The introduction of these ETFs reflects a growing institutional interest in XRP, particularly after the resolution of regulatory uncertainties stemming from Ripple's SEC settlement [1][5] Group 1: ETF Launches - Franklin Templeton launched the Franklin XRP ETF (XRPZ) on NYSE Arca, providing regulated exposure to XRP through a grantor trust, tracking the CME CF XRP-Dollar Reference Rate [2] - Grayscale introduced its XRP Trust ETF (GXRP) with a zero-fee introductory period, emphasizing XRP's strong market position [3] - Bitwise reported $100 million in initial inflows for its XRP ETF launched a week prior, showcasing the readiness of asset managers for regulatory clarity [4] Group 2: Regulatory Environment - Ripple's $125 million settlement with the SEC in May 2025 resolved years of regulatory uncertainty, allowing large financial institutions to confidently pursue spot ETFs [5] - The SEC's confirmation that Ripple resolved all claims without admitting wrongdoing provided the necessary assurance for institutional investment in XRP [5]