Franklin Templeton is bullish on Solana, citing its technological progress and increasing adoption.
Speculation is rising that Franklin Templeton may file for a spot Solana ETF.
Franklin Templeton, a prominent global asset management firm, has expressed strong optimism about the future of Solana (SOL) within the cryptocurrency ecosystem. The firm’s enthusiasm has played an influential role in the recent launch of Bitcoin and Ethereum spot ETFs in the U.S.
Besides Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward. Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput,…
— Franklin Templeton Digital Assets (@FTI_DA) July 23, 2024
Franklin Templeton highlighted Solana’s expanding influence in the crypto space. The firm expressed a positive outlook on Solana, noting its technological advancements and growing adoption. This suggests that Solana is overcoming previous challenges and is set for continued growth.
Additionally, Franklin Templeton emphasized Solana’s high-throughput and monolithic architecture. That could play a significant role in shaping Solana’s future, potentially surpassing established giants like Bitcoin and Ethereum.
Growing Anticipation for a Solana ETF
The bullish sentiment comes soon after Franklin Templeton’s launch of its second-spot cryptocurrency ETF, the Franklin Ethereum ETF (EZET). This new ETF, with a management fee of 0.19%, is currently offered without fees for the first $10 billion in assets until January 31, 2025.
This follows the firm’s introduction of a spot Bitcoin ETF earlier this year, which was part of a broader trend that saw multiple issuers entering the Bitcoin ETF market, including major names such as Grayscale, BlackRock, and Fidelity.
However, this positive outlook on Solana has sparked speculation that Franklin Templeton might soon file for a spot in the Solana ETF, following similar moves by VanEck and 21Shares.
Nate Geraci, President of the ETF Store, has supported this notion, predicting that a Solana ETF could be within its scope.
Further fueling these expectations, the Chicago Board Options Exchange (CBOE) has recently filed Form 19b-4s with the U.S. Securities and Exchange Commission (SEC), proposing a rule change for Solana ETFs. This submission has begun the public comment period and is expected to conclude with a decision by 2025.
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