Key Takeaways
- • Ripple endorsed the SEC's proposed "Regulation Crypto Assets" in a Wednesday comment letter but sought changes on investment contracts, the underlying tokens, and secondary-market transactions; the endorsement does not alter XRP's legal classification while the proposal remains under review.
- • US spot XRP ETFs drew a combined $4.3 million in net inflows from October 19 through Thursday, according to media reports, though Friday saw no fresh inflows and product-level flows diverged sharply (Franklin Templeton's XRPZ +$2.25 million versus Bitwise's -$1.55 million on Wednesday).
- • Franklin Templeton issued roughly $150 million in tokenized money-market fund shares (sgBENJI) on the XRP Ledger via two $75 million subscriptions, but these units are settled against RLUSD and do not represent direct XRP demand.
- • XRP traded at $1.27 on Friday, down 1.8%, and the planned fixCleanup3_4_0 amendment has slipped to an expected November 4 activation after validator support fell below the required threshold.
Summary
Ripple has backed the SEC's proposed "Regulation Crypto Assets" with caveats, using its Wednesday comment letter to press for changes on three fronts: investment contracts, the underlying tokens themselves, and secondary-market transactions. The article notes that the endorsement carries no legal weight for XRP's status, since the proposal remains under review and Ripple's filing does not alter how the token is classified.
US spot XRP ETFs have attracted net capital overall, according to media reports, with a combined $4.3 million in inflows from October 19 through Thursday. Flows were uneven: Friday brought no fresh inflows, and individual products diverged sharply. Franklin Templeton's XRPZ recorded $2.25 million in purchases on Wednesday while Bitwise's fund shed $1.55 million, leaving a net gain across tracked funds of $708,510 that day.
Franklin Templeton issued roughly $150 million in additional tokenized money-market fund shares on the XRP Ledger through two $75 million subscriptions, CoinDesk reported. The sgBENJI tokens represent units of the Singapore-domiciled Franklin OnChain U.S. Dollar Short-Term Money Market Fund. The shares trade directly against RLUSD, with XRP needed only to cover minimal network fees, so the issuance does not translate into an equivalent economic boost for the token. CoinDesk reported the new units went to a wallet sharing signature addresses with the issuance account; whether it serves a single investor or multiple clients is unclear. Franklin Templeton also retains the ability to approve, freeze, or claw back positions on the ledger.
XRP changed hands at $1.27 on Friday, down 1.8%. Separately, Ripple and Arf announced a Friday partnership to supply licensed firms with short-term settlement liquidity for cross-border payments funded in RLUSD; Arf says the financing is typically repaid within one to five days, and the arrangement is a liquidity facility rather than an obligation to buy XRP.
A planned XRP Ledger amendment, fixCleanup3_4_0, is now expected to activate on November 4 at 14:46 UTC, per media reports, after validator backing fell below the required threshold and restarted the two-week approval window. The date holds only if support persists. Overall, the developments remain tied to a validator vote, a regulatory review, and whether ledger applications eventually generate direct token demand.
US spot XRP ETFs have attracted net capital overall, according to media reports, with a combined $4.3 million in inflows from October 19 through Thursday. Flows were uneven: Friday brought no fresh inflows, and individual products diverged sharply. Franklin Templeton's XRPZ recorded $2.25 million in purchases on Wednesday while Bitwise's fund shed $1.55 million, leaving a net gain across tracked funds of $708,510 that day.
Franklin Templeton issued roughly $150 million in additional tokenized money-market fund shares on the XRP Ledger through two $75 million subscriptions, CoinDesk reported. The sgBENJI tokens represent units of the Singapore-domiciled Franklin OnChain U.S. Dollar Short-Term Money Market Fund. The shares trade directly against RLUSD, with XRP needed only to cover minimal network fees, so the issuance does not translate into an equivalent economic boost for the token. CoinDesk reported the new units went to a wallet sharing signature addresses with the issuance account; whether it serves a single investor or multiple clients is unclear. Franklin Templeton also retains the ability to approve, freeze, or claw back positions on the ledger.
XRP changed hands at $1.27 on Friday, down 1.8%. Separately, Ripple and Arf announced a Friday partnership to supply licensed firms with short-term settlement liquidity for cross-border payments funded in RLUSD; Arf says the financing is typically repaid within one to five days, and the arrangement is a liquidity facility rather than an obligation to buy XRP.
A planned XRP Ledger amendment, fixCleanup3_4_0, is now expected to activate on November 4 at 14:46 UTC, per media reports, after validator backing fell below the required threshold and restarted the two-week approval window. The date holds only if support persists. Overall, the developments remain tied to a validator vote, a regulatory review, and whether ledger applications eventually generate direct token demand.
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