Franklin Templeton, managing $1.53 trillion in assets, filed an application with the SEC to launch an ETF tracking Solana, one of today's leading cryptocurrencies.
A Regulated Path for Solana Exposure
The proposed Franklin Solana ETF would trade on the Cboe BZX Exchange, offering investors a means to track Solana (SOL) price fluctuations. Coinbase Custody Trust Company, LLC serves as the custodian for the digital assets. The ETF would not be registered under the Investment Company Act of 1940 nor operate as a commodity pool under the Commodity Exchange Act. Franklin Templeton emphasizes Solana's resistance to manipulation due to its decentralized nature and 24/7 trading.
Transparency and Investor Protection
A key selling point of the Franklin Solana ETF is its transparency. The fund’s net asset value (NAV) will be calculated daily, with intraday indicative values disseminated every 15 seconds, ensuring investors have clear insights into performance and reducing risks associated with direct custody of digital assets.
The Growing ETF Landscape
Franklin Templeton's filing is part of a broader trend towards increasing crypto ETF filings. Firms like Grayscale, VanEck, and 21Shares have also filed for ETFs tracking various digital assets, including XRP and Dogecoin. Despite SEC delays, analysts remain optimistic about approval chances, with a final decision on the Solana ETF expected by October 2025.
Launching a Solana-based ETF could be a step towards integrating cryptocurrencies into traditional financial systems, making them more accessible to investors.
