- Franklin Templeton has filed for a Solana ETF with the SEC, just one day after its XRP ETF submission, joining major players like Grayscale and VanEck in the race for crypto ETFs.
- Bloomberg analysts predict a 70% chance of SEC approval by October 2025, signaling growing institutional interest in Solana and digital asset investment products.
Franklin Templeton, a leading global asset manager with over $1.5 trillion in assets, has made waves in the cryptocurrency industry by filing for a Solana-based exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). This filing, which comes just one day after its XRP ETF submission, marks a significant step in mainstream adoption of digital assets.
Solana ETF: A Game Changer for Investors
If approved, the Solana ETF would allow investors to gain exposure to Solana (SOL) without directly holding the cryptocurrency. This move aligns Franklin Templeton with other major players in the ETF space, including 21Shares, Bitwise, Canary, VanEck, and Grayscale, all of whom have shown interest in launching Solana ETFs.
The SEC’s next step is to formally acknowledge the filing and publish it in the Federal Register, kickstarting the regulatory review process. According to Bloomberg analysts, Solana ETFs have a 70% chance of receiving SEC approval by October 2025. If greenlit, this could further legitimize Solana’s position as a major player in the crypto space.
Timing and Market Reactions
Franklin Templeton’s filing follows a recent SEC decision to delay multiple crypto ETF approvals, including Litecoin (LTC), Cardano (ADA), Dogecoin (DOGE), and Solana (SOL), until at least May 2025. Despite this regulatory uncertainty, Franklin Templeton has pressed forward, indicating confidence in the future of crypto ETFs.
The announcement briefly pushed Solana’s price up to $130 before it slipped back down to $123.43, reflecting a 17% decline over the past week. While market volatility remains a concern, institutional interest from major firms like Franklin Templeton signals long-term optimism for digital asset adoption.
The Road Ahead
The race for a Solana ETF is heating up, and Franklin Templeton’s entry adds credibility to the growing demand for cryptocurrency-based investment products. As the SEC evaluates these filings, the next few months will be crucial in determining whether Solana and other digital assets secure a place in mainstream finance.
For investors and crypto enthusiasts, all eyes will be on the SEC’s decision. If approved, a Solana ETF could open new opportunities for traditional investors while further solidifying the legitimacy of cryptocurrency in the broader financial market.
