Franklin Templeton Files to Launch Solana ETF Amid Growing Institutional Race
Franklin Templeton has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) for Solana (SOL), making it the latest entity to join the growing race to list an ETF for the cryptocurrency.
🔹 Order details:
The Franklin Solana ETF will track the price of Solana and is traded on the Cboe BZX Exchange.
The filing comes after the company registered its Solana Investment Fund in Delaware on February 11, which will be the basis for the ETF.
Franklin Templeton also plans to allocate a portion of its SOL holdings into staking operations, with the resulting rewards being treated as a source of income for the fund.
🔹 Increasing competition:
Franklin Templeton joins Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital as they compete for SEC approval to launch a Solana ETF. While Grayscale filed via NYSE Arca, Franklin Templeton and the rest of the firms chose to list their funds on Cboe BZX.
🔹 Why is this important?
If approved, the funds would provide a regulated way for institutional investors to access Solana without having to own the asset directly, potentially boosting market liquidity and encouraging broader institutional participation.
🔹 Previous moves of Franklin Templeton:
The company launched a joint Bitcoin and Ethereum ETF (EZPZ ETF) a day ago with an allocation of 82% to Bitcoin and 18% to Ethereum.
The company had previously predicted in its report issued on December 30 that governments would adopt Bitcoin more by 2025, as it transitions from a speculative tool to a global store of value.
📌 The approval of Solana ETFs could be a significant turning point in the cryptocurrency market, as it will provide new opportunities for institutional investors and strengthen Solana’s position as a leading digital asset.
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