Franklin Templeton Files For a Solana ETF

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Franklin Templeton has officially entered the increasingly competitive arena of altcoin ETF applications. Its filing in Delaware suggests that it plans to submit a spot ETF application, a strategy previously adopted by other issuers.

The $1 trillion asset manager has filed registration documents for a Franklin Solana Trust in Delaware, joining other firms aiming to launch Solana spot ETFs in the US, the world’s largest economy.

As early as July 2024, Franklin Templeton expressed optimism about the future of SOL, calling it one of the “exciting” cryptocurrency projects alongside Bitcoin and Ethereum that are likely to drive adoption.

The Solana network has demonstrated resilience in overcoming past technological challenges as it matures.

The US government has already approved spot ETFs for Bitcoin and Ethereum, and the Securities and Exchange Commission has indicated the potential for expanding offerings by accepting Form 19b-4 applications for Litecoin and Solana ETFs.