Franklin Templeton Enters Solana ETF Race with SEC Filing

Franklin Templeton has officially entered the race for a Solana spot ETF, submitting an S-1 filing with the U.S. Securities and Exchange Commission (SEC) on February 21.

This follows its earlier registration of a Solana trust in Delaware, which will serve as the foundation for the ETF. If approved, the fund will be listed on the Cboe BZX Exchange, and Franklin Templeton has indicated it may stake some of its SOL holdings, treating any rewards as fund income.

The firm joins a growing list of asset managers awaiting SEC approval for Solana ETFs, including Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital. While these firms have had their 19b-4 forms filed by prospective exchanges, Franklin Templeton now aligns with those vying for a listing on the Cboe BZX Exchange. Before an ETF can launch, both the 19b-4 and S-1 filings must gain SEC approval.

This latest move comes just a day after Franklin Templeton introduced its EZPZ Bitcoin and Ethereum ETF, which tracks BTC and ETH at an 82%-18% ratio on the Cboe BZX Exchange. The firm also offers dedicated Bitcoin and Ethereum ETFs, both launched last year, and currently manages $1.46 trillion in assets.

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The SEC is dealing with a flood of crypto ETF applications, with asset managers filing proposals for funds based on various altcoins, including Litecoin, XRP, Dogecoin, HBAR, and Polkadot. Solana now leads the pack with six ETF filings, followed by XRP with five. Analysts estimate a 70% chance of approval for SOL ETFs, though shifting leadership at the SEC has introduced uncertainty into the regulatory landscape.

Alexander Zdravkov

Alexander has been working in the crypto industry for three years, during which time he has established himself through his active participation in monitoring market dynamics and technological innovations. His interest in cryptocurrencies and new technologies is not just a professional commitment, but a deep personal passion. He follows the news in the sector daily, analyzes trends, and is excited about every new step in the development of blockchain solutions. His enthusiasm drives him to continuously learn and share knowledge, as he sees the future in digital finance and its role in global transformation.