Franklin Templeton Files for Solana ETF

Franklin Templeton has made a strategic move by registering the “Franklin Solana Trust” in Delaware, signaling potential plans to launch a Solana-focused ETF. This positions them alongside major players like Grayscale and Bitwise, all looking to capitalize on Solana’s growing market influence.

This development occurs as the SEC appears more receptive, having acknowledged several filings for spot Solana ETFs this February. This positive response marks a significant change from previous hesitations under former SEC leadership, suggesting a potentially smoother path for crypto ETFs.

Bloomberg analysts have given Solana’s ETF approval a 70% chance by the end of 2025, with the re-election of President Trump seemingly enhancing these prospects.

However, Solana’s classification as a security still requires clarification before moving forward. If Franklin Templeton can navigate these challenges, they might replicate the success of their Bitcoin and Ethereum ETFs, which are listed on the Cboe BZX Exchange.