Major Asset Manager Enters the Solana ETF Race
Franklin Templeton, a global investment giant managing over $1.5 trillion in assets, has officially filed for a Solana (SOL) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The filing, submitted on behalf of Cboe BZX Exchange, marks Franklin Templeton as the largest asset manager to apply for a SOL-based ETF.
The SEC's Two-Step Approval Process
This 19b-4 filing represents the second step in the ETF approval process. If acknowledged by the SEC, the proposal will be published in the Federal Register, initiating the regulatory review phase. This follows Franklin Templeton’s S-1 filing for an XRP ETF just a day earlier, demonstrating the firm's aggressive expansion into crypto investment vehicles.
Crypto-Friendly Policies Under Trump Fuel ETF Wave
Since President Donald Trump took office, pro-crypto policies have led to a surge in ETF applications beyond Bitcoin and Ethereum. Bloomberg ETF analysts have assigned high approval odds to upcoming altcoin ETFs, with Litecoin (LTC) at 90%, Dogecoin (DOGE) at 75%, Solana (SOL) at 70%, and XRP at 65%.
Industry Reactions and Market Impact
Bloomberg Intelligence analyst James Seyffart noted that while the filing was expected, Franklin Templeton’s involvement signals growing institutional interest in Solana.
Following the announcement, SOL’s price climbed 2.5%, reaching $125.84 as investors reacted positively to the prospect of institutional adoption.
