Asset management company Franklin Templeton recently introduced an amended S-1 SEC filing for its pending spot XRP exchange-traded fund (ETF), the Franklin XRP Trust. The amendment, dated November 4, 2025, includes a key regulatory difference from previous versions that would likely impact the XRP ETF approval process.
What’s different about Franklin Templeton’s new XRP ETF filing?
James Seyffart, ETF analyst shared the update on X (formerly Twitter), highlighting the elimination of the 8(a) delay clause, which generally gives the SEC control over when a filing becomes effective. Typically, when an issuing company applies for an ETF, it includes what is called a “dilatory amendment.” This clause gives the SEC the authority to determine the exact time the filing becomes effective. Franklin Templeton employed that standard wording in its previous filings, including the initial filing on March 11, 2025, and a subsequent amendment on August 22, 2025.
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However, the latest presentation shortens that delay condition. Instead, it states that the registration “shall hereafter become effective in accordance with the provisions of Section 8(a) of the Securities Act of 1933.” Under this rule, the Franklin XRP Spot ETF Registration automatically becomes effective 20 days after filing, unless the SEC intervenes.
The Franklin XRP Trust mainly hold XRP as its primary asset and track the token’s market price, with Coinbase Custody managing asset storage and BNY Mellon overseeing cash holdings. The trust seeks to list on the Cboe BZX Exchange, adopting a structure similar to other recently approved crypto ETFs.
A Growing Trend of Accelerated Crypto ETF Filings
The Franklin Templeton update does not occur in isolation. Other asset managers, including Bitwise and Canary Funds, have also made similar changes to their S-1 filings for XRP ETFs in recent weeks, cutting the wording of the delay that typically allows the SEC to set the release schedule.
The growing series of S-1 changes demonstrates how these ETF issuers are regaining control over the timing of XRP ETF approvals. Journalist Eleanor Terrett highlighted this trend in Xnoting that it has become more common since the US government shutdown in October. During that periodThe SEC review process slowed down, leading many asset managers to use the timing rule to speed up their filings.
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Issuing companies may also be using the same “fast track” rule That helped other spot crypto ETFs like Solana (SOL), Litecoin (LTC), and Hedera (HBAR) launch last month. By shortening the delay provision, the Franklin Templeton XRP ETF now follows the same accelerated path and may receive approval before the end of November.
While the SEC can still intervene, this change indicates that XRP ETF issuers are gaining more control over the timing of approval by adopting faster roadsindicating that this time things could be different.
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