Solana ETF hopes rise as Franklin Templeton registers new trust
Solanas chances of registration are growing
Franklin Templeton has filed registration documents for the Franklin Solana Trust in Delaware, joining other firms seeking to bring Solana to the exchange-traded product (ETP) market.
According to Crypto.News, Franklin Templeton’s filing in Delaware is likely a step toward applying for a spot ETF, following the same process previously used by other issuers.
The $1.5 trillion asset manager stated back in July 2024 that Solana is among the "other promising" crypto projects that could drive broader adoption alongside Bitcoin and Ethereum. One of the key indicators of Solana’s maturity, according to Franklin Templeton, has been the network’s ability to overcome past technical scalability challenges.
ETF approval prospects improve despite market volatility
Following Donald Trump's election victory, the spot exchange-traded product market has gained momentum. Previously, the chances of an altcoin ETF approval were near zero due to high volatility and concerns about investor protection. However, Litecoin, Dogecoin, Solana, and XRP are now among the leading candidates for potential ETF registration.
Recently, the U.S. Securities and Exchange Commission (SEC) announced that it is accepting applications and public comments regarding the registration of the Canary Litecoin ETF, signaling a possible approval in the near future.
A filing from Franklin Templeton, one of the largest asset managers, significantly strengthens Solana’s position among competing altcoins. It may also support other applicants in the Solana ETF race, including Canary, Grayscale, 21Shares, VanEck, and Bitwise.
A year ago, the world was introduced to Bitcoin ETFs. This new investment vehicle for BTC proved to be extremely popular, pushing Bitcoin’s price to a record $100,000. Other crypto assets saw this as their opportunity and are now seeking approval for their own spot exchange-traded funds (ETFs).
