Franklin Templeton has registered Franklin Solana Trust in Delaware, indicating potential plans to launch a spot exchange-traded fund (ETF) in the US.
New Registration in Delaware
On February 10, the CSC Delaware Trust Company registered the Franklin Solana Trust. The company has previously registered crypto trust products for other asset managers, such as Bitwise.
ETF Approval Process
To join the race for a Solana ETF alongside Grayscale, Bitwise, VanEck, and others, Franklin Templeton will need to file Forms 19b-4 and S-1 for the proposed ETF with the Securities and Exchange Commission (SEC).
Potential and Forecasts for Solana ETF
Bloomberg analysts note that the odds of Solana ETF approval by the end of 2025 stand at 70%. However, resolving whether Solana will be categorized as a security is crucial before the SEC can consider it under a commodities ETF wrapper.
The registration of the Franklin Solana Trust is a significant step toward the prospective launch of a Solana ETF in the US, which could attract between $3 billion and $6 billion in its first year. However, the approval process involves multiple stages.
