Franklin Templeton Joins Growing Pile of Solana ETF Applicants – Decrypt

Add Franklin Templeton to add it to the list of asset managers seeking approval for funds traded on exchanges that track Solana's ongoing prices.

Submitted by the publisher on a Friday afternoon S-1 Registration Statement with the Securities and Exchange Commission of Franklin Solana ETF.

“The funds generally try to reflect Solana's price performance,” the company said in its submission.

Based in San Mateo, California, Franklin follows several other publishing giants I'm looking for a nod of seconds For funding based in Solana. Grayscale, Bitise, Canary, 21shares and Vaneck filed all filings to the ETF based on the performance of the sixth largest crypto by market capitalization.

Bloomberg Senior ETF Analyst Eric Bulknath has it With a pencil There is a 70% chance that the Solana ETF will receive green light this year, but they didn't predict the timing. The publisher must continue to address public comments regarding regulatory reviews, ongoing enforcement actions and filings.

Solana price dip

According to data provider Coingecko at Crypto Markets, Solana had recently traded at around $168, a slight decline in the past 24 hours. Smart contract blockchain tokens have fallen by more than 16% in the past week, following a link between a scandal involving Libra tokens and a link to broader delays in the memecoin project that supports the network.

Still, investors' demand for crypto-centric assets remains strong, a continuing aftermath of the dramatic success of Spot Bitcoin Funds. 11 Bitcoin funds have accumulated over $40 billion in net inflows over the past year, leading to the subsequent approval of the ETF to track Ethereum prices last July.

Thursday, The publisher has debuted The Templeton Crypto Index ETF (EZPZ) tracks the price movement of two top cryptocurrencies by market value, based on the institutional digital asset index of the CF benchmark.

According to Farside Investors, a UK-based asset manager, the $442 million net inflow of Franklin Bitcoin ETF (EZBC) ranks just one-eighth of Bitcoin funds. Franklin Ethereum ETF (EZET) has $34 million in AUM and is ranked sixth among the eight funds in the group.

“This move reflects growing interest among asset managers offering investment products beyond Bitcoin, particularly as regulatory terms become more favorable,” said CEO of Bitbull Capital, Crypto Fund Manager. said Joe Dipasquale. Decryption. “Because of the crypto-friendly regulatory environment and the recent success of Bitcoin ETFs, I am optimistic about the approval outlook for these ETFs.”

Franklin Templeton did not immediately respond to requests for comment.

Edited by Andrew Hayward