Asset management giant Franklin Templeton has filed for an XRP ETF, joining the likes of Bitwise and Canary Capital.
The move signals increasing confidence among traditional financial institutions in the potential of XRP-based products.
The US SEC has delayed its decision on Grayscale's proposed XRP ETF until May, but the potential resolution of Ripple Labs' legal battle with the SEC could clear the way for Ripple-based products.
The resolution of the Ripple lawsuit might pave the way for mainstream financial institutions to adopt XRP and bring more sustained price momentum for the cryptocurrency.