Franklin Templeton has formally entered the race for a Solana spot ETF, submitting an S-1 submitting with the U.S. Securities and Change Fee (SEC) on February 21.
This follows its earlier registration of a Solana belief in Delaware, which is able to function the muse for the ETF. If authorised, the fund will probably be listed on the Cboe BZX Change, and Franklin Templeton has indicated it might stake a few of its SOL holdings, treating any rewards as fund earnings.
The agency joins a rising checklist of asset managers awaiting SEC approval for Solana ETFs, together with Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital. Whereas these companies have had their 19b-4 kinds filed by potential exchanges, Franklin Templeton now aligns with these vying for an inventory on the Cboe BZX Change. Earlier than an ETF can launch, each the 19b-4 and S-1 filings should achieve SEC approval.
This newest transfer comes only a day after Franklin Templeton launched its EZPZ Bitcoin and Ethereum ETF, which tracks BTC and ETH at an 82%-18% ratio on the Cboe BZX Change. The agency additionally provides devoted Bitcoin and Ethereum ETFs, each launched final yr, and at present manages $1.46 trillion in property.
The SEC is coping with a flood of crypto ETF functions, with asset managers submitting proposals for funds primarily based on numerous altcoins, together with Litecoin, XRP, Dogecoin, HBAR, and Polkadot. Solana now leads the pack with six ETF filings, adopted by XRP with 5. Analysts estimate a 70% likelihood of approval for SOL ETFs, although shifting management on the SEC has launched uncertainty into the regulatory panorama.
