Franklin Templeton's XRP ETF: Are We Seriously Falling For This?
Okay, so Franklin Templeton launched an XRP ETF, ticker XRPZ. Big deal. The NYSE Arca cleared it, Grayscale's got one (GXRP), Canary Capital already jumped in with XRPC... Everyone's suddenly all about XRP ETFs. Are we really buying this hype?
The "Regulated Gateway" to What, Exactly?
They're calling it a "regulated gateway for institutions." Right. Because institutional investors were just dying to get their hands on XRP but were simply too scared to, you know, click a few buttons on an exchange. Give me a break.
Franklin Templeton's Head of ETF Product, David Mann, says XRPZ offers "a convenient and regulated way to access a digital asset." Convenient? Regulated? It's still crypto, folks. Just wrapped in a slightly shinier package. Franklin Templeton Launches Franklin XRP ETF XRPZ on NYSE
And what’s with all this talk about XRP’s “foundational role in global settlement infrastructure?” Last I checked, my local coffee shop still ain’t accepting XRP.
The SEC's Convenient Amnesia
Let's not forget the SEC lawsuit against Ripple. Years of legal battles, accusations of unregistered securities offerings... and now, suddenly, it's all water under the bridge? The SEC "dropped the case," sure, after a change in leadership. But did they actually admit they were wrong? Nope. They settled for $125 million, which, for Ripple, is probably like finding spare change in the couch cushions.
Franklin Templeton needed SEC approval for this XRP ETF offcourse, but it seems like everyone's conveniently forgotten the whole "unregistered security" thing. It's like that embarrassing family secret nobody wants to talk about at Thanksgiving.
The Price Isn't Exactly Skyrocketing, Is It?
Despite all this ETF excitement, XRP's price is… well, it's hovering around $2.13. It's down 18% in the last month. The RSI is creeping up, but it ain't exactly screaming "bull market." It's more like a polite cough.
The article mentions resistance at $2.22, $2.60, and $3.00. Those are the checkpoints for recovery. But honestly, does anyone really believe XRP is going to $3 anytime soon? It feels like wishful thinking.
Canary Capital’s XRPC saw $250 million in inflows on its first day. That's great for Canary Capital, but what about the poor saps who bought in at the top? Are they still feeling so optimistic?
So, What's the Real Story?
It's all about the fees, people. Franklin Templeton, Grayscale, Bitwise… they're not doing this out of the goodness of their hearts. They're making money off every transaction, every share traded. We’re basically paying them to hold XRP for us. And for what? A slightly easier way to lose money on crypto? I ain't falling for it.
