Franklin Templeton has filed an software with the U.S. Securities and Alternate Fee (SEC) to launch the Franklin Solana ETF, a brand new exchange-traded fund designed to trace the value of the cryptocurrency Solana (SOL).
Franklin Templeton Seeks SEC Approval for Solana ETF
The submitting, submitted on March 12, 2025, marks the most recent effort by a significant monetary agency to supply buyers publicity to digital belongings by way of regulated funding automobiles. The proposed ETF, structured as a commodity-based belief, would record and commerce on the Cboe BZX Alternate beneath Rule 14.11(e)(4). The fund would maintain solana (SOL) instantly, with Coinbase Custody Belief Firm, LLC serving because the custodian for the digital belongings.
In response to the submitting, the ETF wouldn’t be registered beneath the Funding Firm Act of 1940, nor wouldn’t it function as a commodity pool beneath the Commodity Alternate Act. Franklin Templeton’s submitting argues that the solana (SOL) market is proof against manipulation, citing the cryptocurrency’s decentralized nature, 24/7 buying and selling, and the presence of arbitrageurs throughout a number of buying and selling platforms.
The agency additionally highlighted the rising investor curiosity in solana, with U.S. publicity to the cryptocurrency reaching billions of {dollars} by way of over-the-counter (OTC) funds and digital asset buying and selling platforms. The ETF would use the CME CF Solana-Greenback Reference Price – New York Variant as its benchmark index, which aggregates buying and selling exercise from main solana buying and selling platforms like Coinbase, Kraken, and Gemini.
The fund’s web asset worth (NAV) can be calculated each day, and intraday indicative values can be disseminated each 15 seconds throughout buying and selling hours. Franklin Templeton’s proposal comes amid a broader push by monetary establishments to supply cryptocurrency-based funding merchandise. The SEC has beforehand authorised bitcoin and ether-based ETFs, and Franklin Templeton’s submitting means that comparable regulatory requirements ought to apply to solana.
The agency additional emphasised that the ETF would offer U.S. buyers with a regulated and clear approach to acquire publicity to solana, probably decreasing dangers related to direct custody of the cryptocurrency. The newest information comes at some point after the monetary large filed for an XRP ETF.
The SEC will now overview the proposal, with a choice anticipated inside 45 to 90 days. If authorised, the Franklin Solana ETF would be part of a rising record of crypto-focused funding merchandise out there to mainstream buyers. The submitting highlights the growing integration of digital belongings into conventional monetary (TradFi) markets, as companies like Franklin Templeton search to bridge the hole between crypto and traditional funding automobiles.
