KEY POINTS
- Franklin Templeton recently posted about the crypto industry, particularly various blockchain networks
- It mentioned other blockchains outside Bitcoin and its intention to "support, monitor and develop on these networks as they grow and mature"
- Ripple Labs' David Schwartz commented on this post and shilled the XRP Ledger
- Franklin Timpleton did not respond to Schwartz, but the comment revived hopes that an XRP ETF could be on its way
David Schwartz, chief technology officer (CTO) of Ripple Labs, recently nudged Franklin Templeton, a global powerhouse in asset management, and highlighted the intrinsic strengths and potential of the XRP Ledger (XRPL), Ripple's blockchain technology. This set the rumor mill abuzz with speculations about a groundbreaking endeavor: the potential launch of an XRP Ledger exchange-traded fund (ETF).
Franklin Templeton made a series of posts on X this week about the cryptocurrency industry, particularly various blockchain networks.
In one of them, the asset management titan said, "We believe as blockchains improve in fees and performance, the potential use cases that are unlocked grow exponentially. Improving the economics and experience for the end user cannot be overstated."
We believe as blockchains improve in fees and performance, the potential use cases that are unlocked grow exponentially. Improving the economics and experience for the end user cannot be overstated
— Franklin Templeton (@FTI_US) January 17, 2024
Franklin Templeton also talked about other blockchains outside Bitcoin, especially mentioning Ethereum and Solana as having "much potential" and revealing its intention to "support, monitor and develop on these networks as they grow and mature."
Schwartz commented on this particular post and shilled the XRP Ledger, saying, "I agree @FTI_US! The XRPL's decade-long track record in reliability and stability is unmatched, especially in tokenizing and exchanging both crypto-native and real-world assets."
I agree @FTI_US! The XRPL's decade-long track record in reliability and stability is unmatched, especially in tokenizing and exchanging both crypto-native and real-world assets. #XRPL https://t.co/bvkxIrArPH
— David "JoelKatz" Schwartz (@JoelKatz) January 18, 2024
Although the official X account of Franklin Templeton did not respond to the executive's comment, it was enough to revive hopes that an XRP ETF could be on its way.
It was not the first time the subject of XRP ETF emerged online and hyped the XRP community. It was brought up following the official launch of spot Bitcoin exchange-traded funds (ETFs) in the U.S., particularly after Grayscale added XRP to its list, with one X user commenting, "An XRP ETF is only a matter of time! BlackRock will also jump on the XRP train."
BOOOOOOOOOOOOOOOOOOM!!!!
— JackTheRippler ©️ (@RippleXrpie) January 16, 2024
Grayscale has added #XRP to its list. An XRP ETF is only a matter of time!
BlackRock will also jump on the XRP train. 🚀📈
David Schwartz: "XRP can't be dirt cheap" pic.twitter.com/vo4CXTBnNn
Another instance was when BlackRock CEO Larry Fink refused to provide an answer after being asked about the possibility of an XRP ETF.
🚨#Xrp HOLDERS ITS OFFICIAL 🚨#Xrp IS THE CHOSEN TOKEN 🚀
— HighVibe 💥🔥💥 (@HighVibeAssets) January 12, 2024
You wonder why Larry Fink CEO of #Blackrock can’t speak on #Xrp ETF! This is setting up to be bigger than your dreams! #Xrp to the F**king moon! 🚀🚀pic.twitter.com/efhLSsURJt
It happened when Fox Business senior correspondent Charles Gasparino asked the CEO about XRP ETF in an interview. At the time, Fink insisted, "I can't answer to that."
🚨NEW: Here are some key quotes from my interview with @BlackRock CEO Larry Fink on the economy, @BillAckman and the $BTC Spot ETFs.
— Charles Gasparino (@CGasparino) January 12, 2024
🚨"The economy is in a very good position and will get stronger."
🚨"I believe I could have been more literate when I was talking about ESG .I…
Ripple Labs CEO Brad Garlinghouse also had a similar response when asked about XRP ETF on several occasions, which has further fanned the flames of speculations within the community.
Larry Fink is not the only one who can't talk about an XRP ETF 👀👀👀 pic.twitter.com/iDVhrICErD
— Digital Asset Investor (@digitalassetbuy) January 16, 2024
The legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple reached a critical juncture in July 2023 when a presiding judge delivered a pivotal verdict, affirming that XRP, the digital asset in question, does not inherently qualify as a security.
In October, the SEC opted to withdraw its charges related to securities law violations against both Garlinghouse and Chris Larsen, an executive at the company.
