Franklin Templeton has filed an application with the SEC to launch the Franklin Solana ETF, offering investors regulated access to the Solana cryptocurrency.
A Regulated Path for Solana Exposure
The proposed Franklin Solana ETF would trade on the Cboe BZX Exchange, allowing investors to track the price of Solana (SOL). The Coinbase Custody Trust Company, LLC would serve as the digital asset custodian. The fund would not be registered under the Investment Company Act of 1940 nor operate as a commodity pool, highlighting Franklin Templeton's belief that the Solana market is resistant to manipulation.
Transparency and Investor Protection
One of the key aspects of the Franklin Solana ETF is its transparency. The fund's net asset value will be calculated daily, with intraday indicative values disseminated every 15 seconds during trading hours. The filing emphasizes that the ETF would offer U.S. investors a regulated and transparent way to gain exposure to Solana, reducing risks associated with direct custody of digital assets.
The Growing ETF Landscape
Franklin Templeton's filing for the ETF comes amid increasing interest in crypto-related ETFs. Companies such as Grayscale Investments and VanEck have also filed for ETFs that track digital assets. While the SEC has previously approved ETFs based on Bitcoin and Ether, the approval for Solana ETFs remains under discussion. Analysts believe the likelihood of approval is high given the SEC's evolving approach to cryptocurrencies.
The review of Franklin Solana ETF application continues, with a decision expected by October 2025. This ETF could mark a significant step in integrating cryptocurrencies into conventional financial products, making Solana more accessible to investors.
