1.6T Asset Manager Bets Big on XRP, Explains Why

$1.6 Trillion Asset Manager Franklin Templeton Highlights XRP, Explains Rationale for Deeper Focus

Franklin Templeton, which manages more than $1.6 trillion in assets, is publicly sharpening its focus on XRP and the XRP Ledger (XRPL) as institutional interest in the token continues to expand.

In a recent post on X (formerly Twitter), the California-based firm spotlighted XRPL and its native token, XRP, sharing comments attributed to Roger Bayston, Franklin Templeton’s head of digital assets. The post framed the firm’s view on the network and the asset as it builds out its crypto product strategy.

The message also drew attention to Franklin Templeton’s push into regulated market access for the asset, including its involvement in a spot XRP ETF effort referenced in the source material. The move places the firm among a growing group of traditional asset managers competing to offer structured exposure to XRP.

Reaction from Ripple’s side followed quickly. Reece Merrick, Ripple’s Senior Executive Officer and Managing Director for the Middle East and Africa, responded to Franklin Templeton’s post, underscoring how closely the company is tracking institutional engagement with XRPL and XRP.

The Franklin Templeton commentary arrives amid broader signs of institutional positioning around XRP. The source material notes that a wave of spot XRP ETF launches in November 2025 marked a shift in market structure, with the products reportedly drawing over $1 billion in assets within four weeks, and multiple firms—including Canary, 21Shares, and Franklin Templeton—competing for share.

Beyond product wrappers like ETFs, the source also points to market plumbing and liquidity as part of XRP’s institutional story. It describes XRP as being treated by market makers more like a “top-tier” asset across venues, while on-ledger activity remains smaller than centralized exchanges:

• Average daily CLOB volume for fungible issued currencies on XRPL was about $7.9 million in the third quarter, with around 1 million trades and roughly 7,800 daily traders.
• Average daily AMM volume on XRPL was about $1.7 million.

The source material situates these developments within a wider trend: portfolio managers increasingly favor structured products that reduce custody and compliance friction, especially where liquidity is deep and perceived regulatory clarity is improving. It also notes that broader market volatility can still affect XRP because of its correlation with Bitcoin.

Separate commentary included in the source highlights that some industry leaders are watching ecosystem resilience as tokenized real-world assets expand. Galaxy Digital CEO Mike Novogratz was quoted raising questions about whether networks can sustain momentum as markets shift toward tokens that behave more like “real businesses.”

Finally, the source reiterates a key supply backdrop: the founders of Ripple Labs minted XRP’s full 100 billion token supply on the XRP Ledger before launch, and Ripple originally held 80 billion, later distributing tokens over time.