Franklin Templeton Joins Solana ETF Race with New Filing
In the latest developments, Franklin Templeton, a global asset manager and spot Bitcoin exchange-traded fund (ETF) issuer, owns Franklin Templeton Filed Company registration documents for the “Franklin Solana Trust” in Delaware, USA.
This shows that it joins the pursuit of solana etf with rivals like Canary Fund and Grayscale. This indicates that there may be a field ETF application, as this is followed by the process of bit and other ETF archiving. Previously, the SEC has confirmed the Solana Spot ETF archives for Canary and Grayscale.
It is worth noting that Franklin Templeton was one of the first companies to launch a Bitcoin ETF in the U.S., whose expansion to Solana highlights its confidence in wider crypto adoption.
Several investment companies are moving towards launching the Solana ETF, and Grayscale requests changes to list its products by submitting Form 19b-4. Since then, other companies, including Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF and Vaneck Solana Trust, have since joined the race. The documents follow a major shift in encryption regulations, which happened after Donald Trump was elected. at SEC. Under the leadership of the new acting chair, the SEC has revised its position on cryptocurrency.
Franklin Templeton recently submitted a revised S-1 document to the SEC to approve its Franklin Templeton crypto index ETF. The fund will initially track Bitcoin and Ether, but plans to expand in the future to include other altcoins.
The SEC has acknowledged Canary Capital’s ETF application, but its position on Solana as an unregistered security may delay approval. Analysts believe that it is more likely to approve Litecoin and Hedera ETFs before Solana and XRP.
