Franklin Solana Trust Registered in Delaware With Goal of Promoting Solana ETF
Franklin Templeton has taken a step toward launching a Solana-based exchange-traded fund (ETF) in the U.S. The $1.5 trillion asset manager registered the Franklin Solana Trust in Delaware on Feb. 10, joining several firms vying for regulatory approval to introduce spot Solana ETFs.
| Key Takeaways: – The $1.5 trillion asset manager registered the Franklin Solana Trust in Delaware with a potential move toward launching a spot Solana ETF. – Franklin Templeton joins firms like 21Shares, Grayscale, VanEck, and Bitwise in seeking SEC approval for Solana ETFs. |
The Franklin Solana Trust was formed through CSC Delaware Trust Company, which has previously handled crypto trust registrations for firms like Bitwise.
While the filing does not guarantee an ETF launch, it suggests Franklin Templeton may soon submit a formal application to the Securities and Exchange Commission (SEC). To proceed, the firm would need to file Form 19b-4 and Form S-1, as required for ETF approval.
Franklin Templeton’s interest in Solana is not new. In July 2024, the company highlighted Solana as one of the most promising blockchain projects alongside Bitcoin and Ethereum.
If approved, the Franklin Solana Trust would track Solana’s price movements. The cryptocurrency, currently the fifth-largest by market capitalization at $96.2 billion, has been attracting increasing investor attention.
Other asset managers, including 21Shares, Grayscale, VanEck, Bitwise, and Canary Capital, have also submitted filings for Solana ETFs. The SEC has acknowledged multiple Solana ETF applications.
| Disclaimer: The information on this website is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are volatile, and investing involves risk. Always do your own research and consult a financial advisor. |
