Franklin Templeton is Solana’s ETF eye after Ethereum’s success.
Franklin Templeton, one of the first firms to launch a Bitcoin exchange-traded fund (ETF) position in the United States, is optimistic about more cryptocurrency ETFs, including Solana's product.
“In addition to Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward,” Franklin Templeton wrote in a July 23 post on X.
“Solana has seen massive adoption and continues to grow, overcoming growing pains with technology and demonstrating the potential of high-performance, monolithic architectures.”
The Franklin Templeton Spot Ethereum ETF was launched on t CBOE
Franklin Templeton's announcement about Solana (SOL) ETFs comes the same day the company launched its second cryptocurrency ETF, the Franklin Ethereum ETF (EZET).
The new Ether (ETH) ETF is offered on the Chicago Board Options Exchange (CBOE) BZX exchange at a gain of 0.19% or 19 basis points. Franklin Templeton has elected to completely waive fees at 0% until January 31, 2025 or for the first $10 billion of fund assets.
EZET's launch comes nearly six months after Franklin Templeton launched its Bitcoin (BTC) ETF in January 2024, along with nine other Bitcoin ETF issuers, including Greyscale, BlackRock, Fidelity and others.
“After the success of our Space Bitcoin ETF (EZBC) launched in January, we are proud to add EZET to the growing lineup of digital asset ETFs,” said Patrick O'Connor, Head of Global ETFs at Franklin Templeton.
When is Solana ETF?
The Solana ETF's valuation has attracted a lot of investor attention since VanEick filed for the Solana ETF, VanEick Solana Trust, in June 2024. Major rivals such as 21Shares have filed Solana ETF applications with the US Securities and Exchange Commission (SEC).
Related: Spot Solana ETF May Increase 9x Value of SOL — GSR Markets
According to industry analysts, the first position Solana ETF applications should receive final decisions from the US SEC around mid-March 2025.
The news comes just days after Bloomberg ETF analyst Eric Balchunas predicted that it would pave the way for more crypto ETFs, including Solana-based spot ETFs. wrote:
“After launch, remember there are flows, and then add ETH products, I'm sure, then Solana, and then… maybe not at the end. The dam is broken.
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