Franklin Templeton has filed with the U.S. Securities and Exchange Commission (SEC) to launch an exchange-traded fund (ETF) that will track the price of Solana (SOL).
A Regulated Path for Solana Exposure
The proposed Franklin Solana ETF would be traded on the Cboe BZX Exchange, offering investment in Solana (SOL) through an ETF. Coinbase Custody Trust Company, LLC will serve as the custodian for digital assets. The ETF will use the CME CF Solana-Dollar Reference Rate – New York Variant as its price benchmark.
Transparency and Investor Protection
One of the key features of the ETF is its transparency: the fund's net asset value (NAV) will be calculated daily, and intraday indicative values will be updated every 15 seconds. This provides investors with the ability to make informed decisions. The ETF offers a regulated and secure method for U.S. investors to gain exposure to Solana.
The Growing ETF Landscape
Franklin Templeton's filing is part of a broader trend of increasing crypto ETF applications from major financial institutions. Although the SEC has delayed decision-making for some ETF applications, analysts feel that it does not diminish the likelihood of approval.
The launch of the Franklin Solana ETF could play a crucial role in integrating cryptocurrencies into traditional financial systems, providing investors with greater access to digital assets.
