- Cboe has filed to listing Franklin Templeton’s Solana ETF.
- The Franklin Templon Solana ETF goals to trace SOL value.
- Solana (SOL) hit $129.60 post-filing however fell to $123.71 amid a broader crypto hunch.
Cboe BZX Change submitted a 19b-4 submitting with the US Securities and Change Fee (SEC) on Wednesday, March 12, 2025, to allow the itemizing of a Solana exchange-traded fund (ETF) proposed by Franklin Templeton.
This submitting marks a pivotal step in bringing Solana (SOL), the sixth largest cryptocurrency by market worth, into the realm of mainstream monetary merchandise.
Notably, Franklin Templeton, a world funding big managing over $1.5 trillion in property, submitted its preliminary proposal for the ETF lower than every week in the past, reflecting the accelerating curiosity in crypto-based funds amongst conventional monetary establishments.
The proposed Franklin Templeton Solana ETF
The proposed Franklin Templeton Solana ETF goals to trace the spot value of SOL, the native cryptocurrency of a blockchain identified for its high-speed transactions and recognition amongst meme coin builders.
Franklin Templeton’s push into Solana follows a aggressive flurry of comparable functions from companies like Grayscale Investments, Canary Capital, Bitwise, 21Shares, and VanEck, all vying to launch spot Solana ETFs.
The SEC has already opened public remark intervals for a number of of those proposals, indicating a cautious however lively analysis course of.
The momentum for Solana funds highlights a shift past Bitcoin and Ethereum, which have dominated the ETF house with practically $100 billion and $2.5 billion in property, respectively. Spot Ethereum ETFs, although much less explosive than their Bitcoin counterparts, have nonetheless attracted vital inflows since their debut eight months in the past, setting a precedent for altcoin funds like Solana.
In contrast to direct crypto possession, ETFs present a well-recognized funding automobile for institutional and retail buyers, probably driving broader adoption.
The SEC has 240 days to evaluate the submitting
Cboe’s submission triggers a 240-day evaluate interval throughout which the SEC should determine whether or not to approve or deny the request. This timeline positions the choice for late 2025, probably aligning with a broader wave of crypto ETF approvals.
The submitting underscores Solana’s rising enchantment, regardless of its latest value hovering round $124—down from its all-time excessive—amid a two-month crypto market downturn.
Notably, this isn’t Franklin Templeton’s first foray into cryptocurrency. The agency started exploring digital property in 2019 by digitizing shares of a cash market fund on the Stellar blockchain, adopted by a digital asset enterprise fund in 2021. It at present operates Bitcoin and Ethereum ETFs, showcasing its rising experience within the house.
The proposed Solana ETF may additional diversify Templeton’s choices, tapping right into a market anticipating regulated publicity to altcoins.
Solana value response
Regardless of seeing a slight uptick to an intraday excessive of $129.60 following the Cboe filling, Solana (SOL) quickly after pulled again to $123.71 at press time, down 39% over the previous month.
Solana value stays properly under its January peak, impacted by a wider crypto rout and the fading hype round meme cash constructed on its blockchain.
The Solana ETF filings, nevertheless, suggests confidence in Solana’s long-term potential, notably as a scalable platform for decentralized functions. If permitted, the Solana ETFs may inject contemporary capital and stability into the Solana ecosystem, mirroring the transformative impact Bitcoin ETFs had on that market.