Bloom, Taxes, and a 118‑Million Ripple Mystery

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In the grand theatre of finance, where the lights dim and the audience watches with anxious hearts, the venerable Franklin Templeton has opened the curtains on its latest act.

With the sober propriety of a magistrate recording a clerk’s entries, the firm released its first quarterly recital (Form 10‑Q) for the Wellington‑named Franklin XRP ETF (XRPZ), furnishing a ledger note that the fund swore to hold a staggering 118 million XRPs by the close of 2025.

It seems that the great steward of more than $1.6 trillion of worldly wealth has finally answered the call of the irrational, carving its name into the chronicles as the “degen” amongst the august tower of old money.

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Within the market square, no heralds thundered, and the daily flows settled at a flat 0.00, as if a stubborn loaf had run out of yeast. Trading volumes, however, continued their restless dance, as if the court musicians refused to silence their lively tune.

Canary Capital (XRPC) maintained its throne, with $283.33 million in net assets, nudging Bitwise by a mere $10.49 million, all while nursing the kingdom’s highest fee of 0.50%-a bold move, perhaps an audacious joke in the grander play.

Conversely, Franklin Templeton (XRPZ) positioned itself as the low-cost hero, offering a modest 0.19% fee and leaping into third place with $243.60 million of assets-a steady, if unremarkable, rollick.

Yet the market is still scouring its past, haunted by the January shock that startled even the most seasoned participants, an event that continues to echo in the inflows of the XRP ETF.

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2026-02-18 12:22