The story of crypto ETF applications gains significance with Franklin Templeton's filing for a Solana (SOL) ETF, marking the largest asset manager to pursue a SOL ETF.
Franklin Templeton's SEC Filing for SOL ETF
Franklin Templeton filed a 19b-4 application with the US SEC for a Solana (SOL) ETF, marking the largest asset manager to file for such an ETF. They have chosen CBOE as the custodian for listing. If approved, the company must submit an S-1 registration statement to register the shares for sale.
Other SOL ETF Applications
Currently, various asset managers, including Grayscale, Bitwise, 21Shares, Canary, and VanEck, have also filed for Solana ETFs. However, all these applications have been postponed by the SEC until May. The regulator stated the need for additional time to review the applications and decide on their approval or rejection.
Multiple Crypto ETF Applications with the US SEC
Franklin Templeton's application for a Solana ETF became known following delayed other applications by SEC and follows the company's filing for an XRP ETF. On March 11, Franklin Templeton filed an S-1 form to launch a spot XRP ETF. Under the new administration, the SEC acknowledged some crypto ETFs, such as Grayscale's ETF for Solana, which would have been impossible under the previous administration.
Franklin Templeton's Solana ETF filing signals continued interest from major financial players in crypto ETFs and strengthens their position in the industry.
