Franklin Templeton, managing $1.53 trillion in assets, plans to introduce a Solana-based ETF in the U.S.
Solana ETF Launch
Earlier this week, Cboe BZX Exchange submitted a regulatory filing on behalf of Franklin Templeton to officially propose the launch of a new Solana ETF in the U.S. This comes shortly after filing for an XRP ETF.
ETF Market Competition
VanEck was the first to start the race for Solana ETF by filing a proposal on June 27. Since then, other financial firms have also joined the process. Currently, Franklin Templeton is the biggest player to enter the ETF races for both Solana and XRP.
Approval Expectations and Odds
Last week, the Securities and Exchange Commission (SEC) delayed its decision on XRP and Solana ETFs. Nevertheless, Polymarket indicates that the odds of Solana ETF approval in the U.S. are about 90%. The new SEC administration is expected to be more favorable to such crypto products.
Franklin Templeton's filing for a Solana ETF signifies growing interest in crypto assets among major investment players, which could transform the market in the future.
