Leading asset manager Franklin Templeton, managing $1.53 trillion, filed with SEC to launch an ETF tracking Solana's price.
A Regulated Path for Solana Exposure
The proposed Franklin Solana ETF would trade on the Cboe BZX Exchange. Solana would be held directly by the ETF, providing exposure to its price changes. Coinbase Custody Trust Company, LLC, would serve as the custodian for the assets. This regulatory approach underscores Franklin Templeton's confidence in Solana's market resistance to manipulation due to its decentralization and continuous trading.
Transparency and Investor Protection
One key aspect of the Franklin Solana ETF is transparency. The fund's NAV will be calculated daily, and intraday indicative values furnished every 15 seconds during trading hours, allowing investors to make informed decisions. The filing emphasizes that the ETF offers U.S. investors a regulated and transparent way to access Solana, reducing risks associated with the direct custody of digital assets.
The Growing ETF Landscape
Franklin Templeton's filing supports the trend of increasing crypto-based ETF proposals. Financial giants such as Grayscale Investments, VanEck, and 21Shares have also filed for ETFs tracking various digital assets. Despite approval delays, some analysts remain optimistic about the potential approval of Solana ETFs.
The initiative to launch a Solana-based ETF is part of Franklin Templeton's broader strategy to increase investor access to altcoins and integrate cryptocurrencies into traditional financial systems.
