Franklin Templeton has filed an software with the U.S. Securities and Change Fee (SEC) to launch the Franklin Solana ETF, a brand new exchange-traded fund designed to trace the worth of the cryptocurrency Solana (SOL).
Franklin Templeton Seeks SEC Approval for Solana ETF
The submitting, submitted on March 12, 2025, marks the newest 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 Change below 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 line with the submitting, the ETF wouldn’t be registered below the Funding Firm Act of 1940, nor wouldn’t it function as a commodity pool below the Commodity Change 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 internet asset worth (NAV) could be calculated each day, and intraday indicative values could 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 related regulatory requirements ought to apply to solana.
The agency additional emphasised that the ETF would offer U.S. buyers with a regulated and clear solution to achieve publicity to solana, doubtlessly lowering dangers related to direct custody of the cryptocurrency. The newest information comes at some point after the monetary big filed for an XRP ETF.
The SEC will now evaluation the proposal, with a call anticipated inside 45 to 90 days. If authorised, the Franklin Solana ETF would be a part of a rising record of crypto-focused funding merchandise obtainable to mainstream buyers. The submitting highlights the rising integration of digital belongings into conventional monetary (TradFi) markets, as companies like Franklin Templeton search to bridge the hole between crypto and standard funding automobiles.
