- Cboe has filed to listing Franklin Templeton’s Solana ETF.
- The Franklin Templon Solana ETF goals to trace SOL value.
- Solana (SOL) hit $129.60 post-filing however fell to $123.71 amid a broader crypto droop.
Cboe BZX Alternate submitted a 19b-4 submitting with the United States Securities and Alternate Fee (SEC) on Wednesday, March 12, 2025, to permit the checklist of a Solana exchange-traded fund (ETF) proposed by way of Franklin Templeton.
This submitting marks a pivotal step in bringing Solana (SOL), the 6th greatest cryptocurrency by way of marketplace price, into the world of mainstream monetary merchandise.
Significantly, Franklin Templeton, a world funding massive managing over $1.5 trillion in belongings, submitted its preliminary proposal for the ETF not up to every week in the past, reflecting the accelerating pastime in crypto-based budget amongst conventional monetary establishments.
The proposed Franklin Templeton Solana ETF
The proposed Franklin Templeton Solana ETF goals to trace the spot value of SOL, the local cryptocurrency of a blockchain recognized for its high-speed transactions and recognition amongst meme coin builders.
Franklin Templeton’s push into Solana follows a aggressive flurry of an identical programs from corporations like Grayscale Investments, Canary Capital, Bitwise, 21Shares, and VanEck, all vying to release spot Solana ETFs.
The SEC has already opened public remark classes for a number of of those proposals, indicating a wary however energetic analysis procedure.
The momentum for Solana budget highlights a shift past Bitcoin and Ethereum, that have ruled the ETF area with just about $100 billion and $2.5 billion in belongings, respectively. Spot Ethereum ETFs, even though much less explosive than their Bitcoin opposite numbers, have nonetheless attracted important inflows since their debut 8 months in the past, atmosphere a precedent for altcoin budget like Solana.
Not like direct crypto possession, ETFs supply a well-known funding automobile for institutional and retail buyers, probably riding broader adoption.
The SEC has 240 days to check the submitting
Cboe’s submission triggers a 240-day evaluation duration all over which the SEC will have to come to a decision whether or not to approve or deny the request. This timeline positions the verdict for overdue 2025, probably aligning with a broader wave of crypto ETF approvals.
The submitting underscores Solana’s rising enchantment, in spite of its contemporary value soaring round $124—down from its all-time excessive—amid a two-month crypto marketplace downturn.
Significantly, this isn’t Franklin Templeton’s first foray into cryptocurrency. The company started exploring virtual belongings in 2019 by way of digitizing stocks of a cash marketplace fund at the Stellar blockchain, adopted by way of a virtual asset mission fund in 2021. It lately operates Bitcoin and Ethereum ETFs, showcasing its rising experience within the area.
The proposed Solana ETF may just additional diversify Templeton’s choices, tapping right into a marketplace longing for regulated publicity to altcoins.
Solana value response
In spite of seeing a slight uptick to an intraday excessive of $129.60 following the Cboe filling, Solana (SOL) quickly after pulled again to $123.71 at press time, down 39% during the last month.
Solana value stays neatly underneath its January height, impacted by way of a much wider crypto rout and the fading hype round meme cash constructed on its blockchain.
The Solana ETF filings, then again, suggests self belief in Solana’s long-term attainable, specifically as a scalable platform for decentralized programs. If authorized, the Solana ETFs may just inject recent capital and steadiness into the Solana ecosystem, mirroring the transformative impact Bitcoin ETFs had on that marketplace.