According to online reports, according to Nate Geraci, president of The ETF Store, Franklin Templeton, who has more than US$1.5 trillion in assets under management, has officially joined the XRP ETF competition. According to a preliminary prospectus filed on March 11, Franklin XRP Trust will issue shares of the Franklin XRP ETF fund, which will primarily hold XRP held by custodians on behalf of the fund, designed to reflect the overall performance of XRP prices. Franklin Holdings,LLC will serve as promoter of the trust and fund, while Coinbase Custody Trust Company will serve as custodian of the fund's XRP assets.