Franklin Templeton, a trillion-dollar asset management giant, has filed for a Spot Solana exchange-traded fund with the US Securities and Exchange Commission (SEC) today March 12, 2025. This move comes right after firm’s recent application for a spot XRP ETF, filed just yesterday, making an aggressive push into the altcoin ETF space.
The proposed Franklin Solana Trust aims to provide institutional investors with regulated exposure to Solana (SOL), a blockchain known for its high speed transactions and growing ecosystem.
The ETF will be listed on the Cboe EZX Exchange and may include staking activities, allowing the fund to earn rewards from its SOL holdings. This innovative approach indicates Franklin Templeton’s commitment to integrating digital assets into traditional investment portfolios.
Franklin Templeton Filed for XRP ETF Just Yesterday
Just one day prior, on March 11, 2025, Franklin Templeton filed for the Franklin XRP ETF which seeks to track the spot price of XRP. The application states that the assets will be held by Coinbase Custody and traded on the Cboe BZX Exchange.
Analysts predict that if approved, this ETF could attract significant investment, with estimates suggesting up to $800 million in inflows during its first week.
However, both applications come amid regulatory scrutiny, as the SEC has delayed decisions on multiple cryptocurrency ETFs, including those for XRP and Solana, until May 2025. This delay highlights ongoing uncertainties in the regulatory landscape as the SEC seeks to ensure investor protection.
Solana Prices Surges by 4%
Following the announcement, the price of the SOL token has surged by 4.8% in the past 24 hours and the price stands at $124.65 per token as per CoinGecko.
The filings from Franklin Templeton indicates a bigger trend of increasing institutional interest in cryptocurrencies beyond Bitcoin and Ethereum. As major asset managers explore innovative products in the space, the potential approval of these ETFs could make way for greater acceptance and adoption of digital assets among mainstream investors.
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