On February 21, 2025, Franklin Templeton, a leading global asset management company, filed with the US Securities and Exchange Commission (SEC) to introduce a trade fund based on Solana, the sixth largest cryptocurrency by market capitalization. ETF) has been launched. . The proposed Franklin Solana ETF aims to track Solana’s prices using assets held by the custodians. The ETF shares are listed on the CBOE BZX Exchange, with Coinbase Custody Trust Company, LLC acting as custodians.
This filing is part of a broader trend that other companies, such as Grayscale, Bitwise, Vanek, 21Share, and Canary, also apply to launch Solana-based ETFs. SEC approvals for these products are still uncertain. Eric Balknath, senior ETF analyst at Bloomberg, is estimated to have a 70% chance of approval for the Solana ETF in 2025, but highlights that the SEC review process and public comment period will affect the outcome. did.
The Franklin Solana ETF proposal includes plans for the fund to join staking, where the Solana token will be earned as a reward. These compensations are considered the fund’s income. Staking is an important topic of discussion among crypto companies, and the SEC’s stance on this issue, particularly on the issue, remains unknown. Companies like the New York Stock Exchange and CBOE BZX are seeking approval to staking cryptographic ETFs, such as the Grayscale Ethereum Fund.
Recently, Solana prices have experienced a decline, trading at around $168, exceeding 16% last week. This decline is linked to the controversy involving Libra tokens and the broader slowdown in the Memecoin project. Nevertheless, demand for crypto-related investment products continues to grow until the success of Bitcoin ETFs, which saw net inflows of over $40 billion over the past year.
Franklin Templeton’s filing followed a similar move in early 2025, when the company launched the Templeton Crypto Index ETF, which is exposed to Bitcoin and Ethereum. If approved, Solana ETF will expand its portfolio of US Crypto-based products, Franklin Templeton, indicating the company’s growing interest in the digital asset space. The broad trend in increasing crypto-focused financial products suggests a change in the market to diversity in the types of digital asset investments available.
As the cryptocurrency regulatory environment continues to evolve, many experts are optimistic about the approval of the Solana ETF. With increasing demand for digital asset products and the evolving SEC stance, the approval of these ETFs is expected to further enhance access to crypto investments for institutional and retail investors.