{"id":43826,"date":"2025-02-12T10:08:42","date_gmt":"2025-02-12T10:08:42","guid":{"rendered":"https:\/\/mycryptomania.com\/?p=43826"},"modified":"2025-02-12T10:08:42","modified_gmt":"2025-02-12T10:08:42","slug":"franklin-templeton-registers-trust-for-potential-spot-solana-etf-in-us","status":"publish","type":"post","link":"https:\/\/mycryptomania.com\/?p=43826","title":{"rendered":"Franklin Templeton Registers Trust For Potential Spot Solana ETF In US"},"content":{"rendered":"

Franklin Templeton has taken a significant step toward launching a spot <\/span>Solana<\/span> exchange-traded fund (ETF) in the US. It registered a trust in Delaware, ready to enter the growing market for Solana-based investment products.<\/span><\/p>\n

According to a 10 <\/span>February 2025 filing<\/span><\/a> with Delaware\u2019s corporate registry, the Franklin Solana Trust was established by CSC Delaware Trust Company. The firm is known for registering crypto trust products for asset managers such as Bitwise.<\/span><\/p>\n

To officially bring a Solana ETF to market, Franklin Templeton must submit <\/span>both<\/span> a Form<\/span> 19b-4 and <\/span>a Form<\/span> S-1 to the US Securities and Exchange Commission (SEC). Other firms that have previously registered crypto trust products in Delaware, followed up with SEC filings shortly after their trust registrations.<\/span><\/p>\n

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Franklin Solana Trust Aims To Mirror Spot Bitcoin, Ether ETFs<\/span><\/h2>\n

If approved, the Franklin Solana Trust would track Solana\u2019s (SOL) price movements. It will mirror the structure of existing spot Bitcoin and Ether ETFs. <\/span>As of now<\/span>, Solana holds the fifth-largest market cap in crypto at approximately $97 billion, according to CoinGecko.<\/span><\/p>\n

Franklin Templeton\u2019s ETF ambitions put it in direct competition with Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital. All of the companies have already filed for spot Solana ETFs. <\/span><\/p>\n

While the filing does not specify which exchange would list the ETF, Franklin Templeton\u2019s spot Bitcoin and Ether ETFs are <\/span>currently<\/span> traded on <\/span>Cboe<\/span> BZX Exchange.<\/span><\/p>\n

The asset manager has consistently expressed confidence in Solana. Specifically, its high transaction throughput and ability to navigate technical challenges. <\/span><\/p>\n

In July 2024, Franklin Templeton highlighted Solana\u2019s advancements as a monolithic blockchain. A<\/span>nd in<\/span> January 2024, it pointed to the growth of Solana\u2019s DeFi ecosystem and memecoin activity as indicators of its strength.<\/span><\/p>\n

Bloomberg ETF analysts James Seyffart and Eric Balchunas estimate a 70% chance that a spot Solana ETF could be approved before the end of 2025. They also noted that Donald Trump\u2019s election victory significantly boosted approval odds.<\/span><\/p>\n

Our official alt coin ETF approval odds are out. Litecoin leads w 90% chance, then Doge, followed by Solana and XRP. We are only doing for 33 Act $IBIT<\/a>-esque filings. But def poss to see futures or Cayman-subsidiary type 40 Act stuff get through as well. https:\/\/t.co\/JSaNnifjbu<\/a><\/p>\n

\u2014 Eric Balchunas (@EricBalchunas) February 10, 2025<\/a><\/p>\n\n

However, Seyffart previously cautioned that the SEC must first determine whether Solana qualifies as a security or a commodity, as spot commodity-based ETFs follow different regulatory frameworks.<\/span><\/p>\n

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SEC Reviews Multiple Solana ETF Filings<\/span><\/h2>\n

Recently, the SEC acknowledged the Form 19b-4 filings for spot Solana ETFs submitted by 21Shares, Bitwise, Canary Capital, and VanEck. <\/span><\/p>\n

The agency had also acknowledged Grayscale\u2019s application on February 6, a development that ETF analysts view as significant, given that SEC rejections under former Chair Gary Gensler were common.<\/span><\/p>\n

Meanwhile, JPMorgan analysts project that an approved spot Solana ETF could attract between $3 billion and $6 billion in net assets during its first year\u2014an estimate Balchunas described as reasonable.<\/span><\/p>\n

Currently, Solana is trading at $198.5, down 1.5% in the past 24 hours, according to CoinGecko. <\/span><\/p>\n

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The post Franklin Templeton Registers Trust For Potential Spot Solana ETF In US<\/a> appeared first on 99Bitcoins<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Franklin Templeton has taken a significant step toward launching a spot Solana exchange-traded fund (ETF) in the US. It registered a trust in Delaware, ready to enter the growing market for Solana-based investment products. According to a 10 February 2025 filing with Delaware\u2019s corporate registry, the Franklin Solana Trust was established by CSC Delaware Trust […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-43826","post","type-post","status-publish","format-standard","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43826"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43826"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/43826\/revisions"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}