The crypto ETF trend continues to grow as Franklin Templeton joins the list with a Solana ETF filing. This fund also includes staking features.
New ETF Filing with Staking
Franklin Templeton filed an S-1 registration with the US SEC to establish a Solana ETF. Interestingly, unlike other crypto ETFs, Franklin Templeton's filing includes staking capabilities. This move may be timely as the SEC Crypto Task Force is already considering ETPs with staking. While previous attempts at ETF staking approval have been withdrawn, Franklin's current filing seems promising for approval.
Franklin Solana Trust Registration
Earlier this month, Franklin Templeton registered the 'Franklin Solana Trust' in Delaware. This registration was the first step before applying for a Solana ETF with the SEC. Considering that several Solana ETF applications have progressed to the public comment stage, it is only a matter of time before Franklin's ETF advances. Market analysts also confirm a high probability of Solana ETF approval.
Current Solana Market Situation
Despite its advanced capabilities, Solana, as a top layer-1 blockchain, is also affected by the current market conditions. At the time of writing, Solana is trading at $172.16, representing a 1.76% drop in the last 24 hours. However, it's noteworthy that the trading volume surged by 40% today.
Franklin Templeton's ETF filing with staking features could be a significant step in the crypto industry, drawing attention to the Solana network.
