[$1.5 trillion asset manager bullish on Solana (SOL)]
Global asset management firm Franklin Templeton Investments is bullish on Solana (SOL), explaining its important position in the industry and future development potential. Support from Franklin Templeton is seen as a major bullish catalyst for SOL.
The company said on X that a number of important developments will drive the cryptocurrency industry forward, not just Bitcoin (BTC) and Ethereum (ETH). Franklin Templeton emphasized that Solana has become an important player in this industry. The asset manager believes that adoption of the Solana blockchain is rising and continues to mature, demonstrating the huge potential of high throughput and monolithic architecture.
With over seventy years of industry experience and expertise, Franklin Templeton is one of the most successful asset managers and has developed blockchain-powered solutions. Earlier this year, the company became one of the issuers of a U.S. spot Bitcoin ETF and led a Series A round for Bitcoin layer 2 blockchain Bitlayer Labs, raising $11 million at a $300 million valuation.
Franklin Templeton’s support for Solana is a significant development considering the company’s significant role in the cryptocurrency industry and the $1.5 trillion in assets it manages. While most leading investment firms support BTC and ETH, Franklin Templeton has publicly acknowledged Solana’s contribution to the industry.
There are rumors that Solana’s spot ETF could come online later this year. Since Franklin Templeton is already the issuer of a Bitcoin ETF, the company may also issue a spot Solana ETF if approved. This development reaffirms Solana’s important role in the cryptocurrency world.
