Asset manager Franklin Templeton recently submitted an application an amended S-1 filing with the SEC for its ongoing spot XRP exchange-traded fund (ETF), the Franklin XRP Trust. The amendment, dated November 4, 2025, contains one key regulatory difference compared to previous versions that would likely impact the approval process for the XRP ETF.
What’s Different About Franklin Templeton’s New XRP ETF Filing?
ETF analyst James Seyffart shared the update on X (formerly Twitter), highlighting the removal of the 8(a) delay clause, which typically gives the SEC control over when a filing becomes effective. When an issuing company files for an ETF, this typically includes what is known as a “delay amendment.” This clause gives the SEC the authority to determine the exact time at which the filing becomes effective. Franklin Templeton used this 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 filing shortens that delay period. Instead, it says the registration “will hereafter become effective in accordance with the provisions of Section 8(a) of the Securities Act of 1933.” Under this line, the Franklin spot XRP ETF the registration will automatically become effective 20 days after filing unless the SEC intervenes.
The Franklin XRP Trust will do that primarily Holding XRP as the main asset and tracks the token’s market price, with Coinbase Custody managing asset storage and BNY Mellon overseeing cash investments. The trust is pursuing a listing on the Cboe BZX Exchange and uses a structure similar to other recently approved crypto ETFs.
A growing trend of rapid crypto ETF applications
Franklin Templeton’s update does not happen 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 back on the delay formulation which typically allows the SEC to set the launch timeline.
The growing series of S-1 amendments shows how these ETF issuers are regaining control over the timing of XRP ETF approvals. Journalist Eleanor Terrett highlighted this trend on Xnoting that this has become more common since the US government shutdown in October. During that periodThe SEC’s review process slowed, prompting many asset managers to use the timing rule to speed up their filings.
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The issuing companies may also use it the same “fast-track” rule That helped other crypto ETFs like the launch of Solana (SOL), Litecoin (LTC) and Hedera (HBAR) last month. By shortening the delay provision, Franklin Templeton’s XRP ETF now follows the same accelerated trajectory and could receive approval before the end of November.
While the SEC can still intervene, this change indicates that XRP ETF issuers will gain more control over approval timing by adopting faster routesindicating that things could indeed be different this time.
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