Franklin Templeton, one of the largest asset management companies in the world, submitted a proposal to the United States Securities and Exchange Commission (SEC) to issue a Solana ETF spot (Stock Exchange Fund). The asset manager joins several other candidates in the race to offer a ground -based investment product to American investors.
Franklin Templeton to offer a stake in Spot Solana Etf
Friday, February 21, Franklin Templeton asked for a negotiated product on the stock market which will follow the cash price of the fifth largest cryptocurrency Solana. Solana ETF by Franklin Templeton will be listed on the CBOE BZX exchange, with Coinbase Gustod Trust Company, LLC as a goalkeeper.
The company’s registration declaration can be read
The Franklin Solana Trust (“confidence”) is organized as a statutory trust in Delaware. The Franklin Solana ETF series of the trust (the “fund”) issues shares (“actions”) representing individual beneficial interests in its net assets. The assets of the fund are mainly composed of Solana owned by a goalkeeper on behalf of the fund. The fund is trying to generally reflect the performance of the Solana price. The fund aims to reflect such a performance before payment of the fund expenses.
In his file with the SEC, Franklin Templeton revealed that he could sometimes play part of the assets of the ETF through one or more providers of confidence. According to the cabinet, the “funds” receive Solana tokens as awards (which would also be processed as “income from the fund”) to engage in any implementation activity.
Source: Sec.gov
This Solana ETF would join the Bitcoin and Ethereum negotiated funds in the growing list of cryptographic products from Franklin Templeton in the United States. Earlier this week, the asset manager launched Son ETH and BTC ETF combined after receiving the dry approval in December 2024.
Franklin Templeton’s proposal to offer the setback option in its place Solana ETF is not exactly new, because several issuers have considered it in other cryptographic products. For example, the New York Stock Exchange has applied for ignition on Grayscale ETFs, while CBOE BZX Exchange seeks to offer stimulation on the Ethereum fund of 21Shares.
With the regulatory landscape of digital assets improving in the United States, it is not surprising to see more traditional companies deposit for new crypto-based financial products. The growing clarity of the American crypto space was highlighted by the DRI’s decision to abandon his file against Coinbase.
Presentation of Solana prices
The soil price barely reacted to the news of the Spot Solana ETF file by Franklin Templeton. To date, the Solana price amounts to around $ 170, reflecting a decrease of 2% in the last 24 hours.
The price of SOL on the daily timeframe | Source: SOLUSDT chart on TradingView
Image in star of Aivaras Sakurovas | DreamsTime.com, tradingView graphic
