Solana ETFs: $1.64 trillion asset manager sparks speculation
Franklin Templeton, the global asset management giant controlling $1.64 trillion, recently endorsed Solana (SOL), sparking speculation about the possibility of launching an exchange-traded fund (ETF) for the digital currency.
Franklin Templeton's Ethereum ETF debuted yesterday, attracting initial inflows of $13.2 million. Additionally, the company's Bitcoin ETFs have assets exceeding $450 million.
Will Franklin Templeton apply for a Solana Coin ETF?
The company's focus on Solana signals strategic diversification beyond Bitcoin and Ethereum. said Franklin Templeton Fund President
"Beside Bitcoin and Ethereum, there are other exciting and significant developments that we believe will push the cryptocurrency space forward. Solana has demonstrated significant adoption and continues to mature, overcoming technological growing pains and demonstrating the potential of a high-throughput single-domain architecture,"
This positive outlook has increased speculation about Solana's upcoming ETF. Community members also believe that Franklin Templeton could be the next to file, after VanEck and 21Shares.
Nate Geraci, president of The ETF Shop, confirms this sentiment, predicting that the Solana ETF will be next.
Moreover, expect an exchange-traded fund that combines Bitcoin, Ethereum, and Solana to be launched soon. Geraci's predictions are remarkably reliable, given his history of accurately forecasting cryptocurrency exchange-traded fund trends.
Moreover, these discussions indicate a shift towards a broader investment palette, integrating traditional and digital asset investment strategies. Matt Hogan, investment director at Bitwise, also supports this view.
“Longer term, as we look at 2025, we will enter the era of crypto exchange-traded funds. We will see trading funds on multiple crypto assets, we will see index-based trading funds,” Hogan commented, referring to applications for Solana-based trading funds.
In addition to these developments, the Chicago Board Options Exchange (CBOE) recently filed Forms 19b-4s for Solana ETFs with the U.S. Securities and Exchange Commission (SEC). This request initiates a rule change proposal, calling for public comment and setting a timeline for a decision extending through 2025.