Franklin Templeton has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a Solana spot exchange-traded fund (ETF), adding its name to the growing list of asset managers seeking approval.
The proposed Franklin Solana ETF would track Solana’s (SOL) price and trade on the Cboe BZX Exchange. This S-1 registration filing follows the firm’s registration of a Solana trust in Delaware on February 11, which will serve as the foundation for the ETF. The filing also reveals that Franklin Templeton may stake a portion of its SOL holdings, treating the staking rewards as fund income.
Franklin Templeton joins other asset managers, including Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital, in the race to launch a Solana ETF. While Grayscale submitted its 19b-4 filing via NYSE Arca, Franklin Templeton and the others have opted for Cboe BZX listings. These ETFs aim to provide investors with exposure to Solana without requiring direct ownership, a trend that continues to gain traction in the crypto investment space.
For these funds to launch, both 19b-4 and S-1 filings must receive SEC approval. Once a 19b-4 filing is submitted, the SEC initiates a review process that includes a comment period before making a final decision.
If approved, the ETFs would offer institutional investors a regulated way to gain exposure to Solana, potentially boosting market liquidity and encouraging broader institutional participation.
Franklin Templeton’s filing comes just a day after it launched the EZPZ Bitcoin and Ethereum ETF on Cboe BZX, which allocates 82% to Bitcoin and 18% to Ethereum. This move aligns with the firm’s deepening investment in digital assets and supports its December 30 outlook predicting increased sovereign adoption of Bitcoin in 2025. The report highlighted Bitcoin’s growing role as a global store of value, driven by rising institutional and governmental interest, signalling a shift from speculation to practical financial use.
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