(Reuters) – Franklin Templeton applied for an exchange trading fund tracking spot prices in Solana on Friday, reflecting growing interest in asset managers to benefit from the popularity of cryptocurrencies beyond Bitcoin It’s there.
As the regulatory situation becomes easier and the crypto-friendly president takes office, investors are diving more and more into digital assets following Bitcoin’s astounding rally, increasingly leaping into searches for the next breakout token.
Investment managers are rolling out new products to capitalize on this growing interest.
In January, Grayscale Investments launched a fund related to Dogecoin. This is the token the company said “we have moved to tools and viable payment methods for Memecoin … Global Financial Inclusion.”
Solana has earned over 60% in the past year. Franklin’s ETFs tracking this cryptocurrency will be listed in the CBOE BZX Exchange.
Franklin chose Coinbase as the manager of Solana Holdings. He declined to comment further.
(Reporting by Niket Nishant and Suzanne McGee of Bengaluru, New York, edited by Mohammed Saffy Shamsi)