The well-known asset management firm Franklin Templeton recently registered "Franklin Solana Trust" in the state of Delaware, USA, indicating that it may be preparing to apply for a Solana spot ETF, joining the competition with other asset management firms. At the same time, the US Securities and Exchange Commission (SEC) has just accepted multiple applications from the Cboe exchange.
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ToggleFranklin Templeton registers Solana trust, Solana ETF on the horizon?
According to documents from the Delaware regulatory authorities, Franklin established the "Franklin Solana Trust" on February 10, with the custodian being CSC Delaware Trust Company, which has also registered trust products such as Dogecoin and XRP ETFs for asset management firms like Bitwise.
If Franklin wishes to compete in the Solana spot ETF market with other companies including Grayscale, Bitwise, or VanEck, it will still need to submit Form 19b-4 and Form S-1 applications to the SEC.
Typically, some institutions register cryptocurrency trusts in Delaware and then submit ETF applications to the SEC a few days later, so Franklin's move is also attracting attention.
It is still unclear on which exchange Franklin's potential ETF will be listed, but its Bitcoin (EZBC) and Ethereum spot ETF (EZET) are both traded on the Cboe BZX exchange.
(Franklin Templeton publishes AI agent report: The intersection of AI agents and the crypto ecosystem)
SEC changes attitude towards Solana ETF
Just yesterday, the SEC officially accepted the 19b-4 form applications for Solana ETFs submitted by the Cboe exchange for Bitwise, 21Shares, VanEck, and Canary Capital. Previously, the SEC had also accepted Grayscale's application, and now the official launch of Solana spot ETFs is in the final countdown.
(Bitwise submits Dogecoin ETF application, Cboe exchange pushes Solana ETF, will the SEC approve?)
Bloomberg ETF analysts James Seyffart and Eric Balchunas stated that the probability of Solana spot ETF approval by the end of this year is around 70%.
They also pointed out that the victory of US President Trump in the November presidential election has significantly increased the probability of multiple crypto ETFs being approved.
However, Seyffart also emphasized that the legal status of Solana, particularly whether it is considered a security, needs to be resolved in order to include it in the regulatory framework for ETFs.
The asset management giant JPMorgan had previously predicted that if a Solana spot ETF is successfully approved, it could attract $3 billion to $6 billion in net inflows in the first year, and Balchunas believes this prediction is quite reasonable.
Risk Warning
Cryptocurrency investments are highly risky, and their prices may fluctuate dramatically. You may lose your entire principal. Please carefully evaluate the risks.
