Franklin Templeton, managing $1.53 trillion in assets, filed with the SEC to launch an ETF tracking Solana. This move coincides with growing interest in Solana thanks to its high-speed blockchain and decentralized applications.
Regulatory and ETF Structure
The proposed Franklin Solana ETF will trade on the Cboe BZX Exchange and be backed directly by Solana (SOL). Coinbase Custody Trust Company, LLC, will serve as the custodian of the digital assets. The ETF will not be registered under the Investment Company Act of 1940 and will not operate as a commodity pool under the Commodity Exchange Act.
Transparency and Investor Protection
The Franklin Solana ETF ensures transparency by providing daily net asset value (NAV) calculations and real-time information to investors. This offering provides U.S. investors with a regulated and transparent way to gain exposure to Solana, reducing the risks associated with direct custody of digital assets.
Growing Interest in Crypto ETFs
Franklin Templeton’s filing reflects the growing number of crypto ETF filings. Financial giants such as Grayscale Investments and VanEck have also filed for ETFs that track various digital assets. Despite past SEC delays for altcoin-based ETFs, analysts are optimistic about the approval of a Solana-based product.
Franklin Templeton's preparation to launch a Solana ETF may become a key milestone in developing cryptocurrency tools for traditional financial markets. Further integration of Solana and other cryptocurrencies with investment products will promote broader acceptance of digital assets.
