BTC

$104365.431

1.39%

ETH

$2548.383

8.56%

XRP

$2.43

3.05%

BNB

$661.954

-1.32%

XRP

$2.424

3.41%

Altcoin

Franklin Solana Trust Was Registered to Seek Approval From SEC

2 mins mins
Franklin Solana Trust Was Registered to Seek Approval From SEC

Key Points:

  • Franklin Templeton established the Franklin Solana Trust in Delaware and must file with the SEC to compete with other asset managers.
  • Recent filings from 21Shares, Bitwise, Grayscale, and VanEck have been recognized, signalling potential progress in regulatory approval.

Franklin Templeton has entered the competition for a Solana exchange-traded fund (ETF) with the formation of the Franklin Solana Trust in Delaware.

Read more: Franklin Templeton Crypto ETF Now Seeking SEC Approval

Franklin Solana Trust Marks Entry into the Solana ETF Race

The Franklin Solana Trust was established on February 10 through CSC Delaware Trust Company, which has also registered crypto trust products for firms.

To formally apply for a Solana ETF, Franklin Templeton must submit Form 19b-4 and Form S-1 to the U.S. Securities and Exchange Commission (SEC). The firm joins other asset managers, including Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital, in seeking approval for a Solana-based ETF.

Franklin has repeatedly praised the Solana ecosystem for its high transaction throughput and scalability. The company also highlighted the strong growth of Solana’s dApps and the dominant meme coin activity on the network by 2024.

Growing Institutional Interest in Solana ETFs

The SEC recently acknowledged several filings for spot Solana ETFs, including those from 21Shares, Bitwise, Grayscale, and VanEck. Grayscale’s filing was recognized on February 6, while the filings from 21Shares, Bitwise, Canary Capital, and VanEck were acknowledged on February 11.

The growing number of applications suggests increasing institutional interest in Solana-based investment products. Bloomberg analysts Eric Balchunas and James Seyffart have projected a 70% chance of SEC approval for a Solana ETF in 2025.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Rate this post
Follow us on Google News

Franklin Solana Trust

Franklin Templeton

SEC

SOL

Solana

Avatar of John Kojo Kumi

John Kojo Kumi

12 February 2025, 02:45:00 GMT +0000

John Kojo Kumi is a cryptocurrency researcher and writer specializing in emerging startups, tokenomics, and market dynamics within the blockchain ecosystem. With years of experience in crypto journalism and blockchain research, he provides in-depth coverage of decentralized finance (DeFi), NFTs, and Web3 innovations.

He holds a Bachelor of Arts in Geography and Rural Development from Kwame Nkrumah University of Science and Technology, Kumasi, bringing a multidisciplinary perspective to the evolving digital asset space. As a Crypto News Writer, he tracks and reports on industry trends, while his role as a Registrar at the Commission on Human Rights and Administrative Justice reflects his commitment to governance and transparency.

His expertise spans content strategy, SEO optimization, and technical research, enabling him to craft insightful, data-driven analyses. Passionate about blockchain’s transformative potential, he strives to equip readers with the knowledge to navigate the complexities of digital assets and decentralized technologies.

Other Posts: