TL;DR
- Franklin Templeton has requested SEC approval for a ETF based on Solana, marking a key step in its strategy to expand into the crypto market.
- The filing, submitted on March 12, 2025, is part of the 19b-4 process and follows a recent request for an XRP ETF.
- Bloomberg estimates Solana has a 70% chance of ETF approval, highlighting its growing relevance in the market.
Franklin Templeton, one of the largest asset managers globally with over $1.5 trillion in assets under management, has filed with the U.S. Securities and Exchange Commission (SEC) for approval of a Solana-based ETF.
The filing was submitted on March 12, 2025, through Cboe BZX Exchange. This submission is part of the company’s strategy to increase its presence in the crypto market.
The filing, registered under the 19b-4 procedure, is the second necessary step in proposing a cryptocurrency ETF to the SEC. Once the SEC acknowledges this filing, it will be published in the Federal Register, initiating the formal review and potential approval process. This process follows other similar initiatives filed by Franklin Templeton, including a request to launch an XRP ETF the day before.
This filing occurs within the context of government policies favorable to cryptocurrencies since the Donald Trump administration. Since taking office, there has been an increase in the number of crypto ETF filings, surpassing Bitcoin and Ethereum in some cases.
Solana Has a 70% Chance of Approval
In this regard, Bloomberg estimates that Solana has a 70% chance of receiving ETF approval, placing it among the altcoins with the highest likelihood of success, though still below Litecoin and Dogecoin.
In a recent analysis, James Seyffart, a Bloomberg Intelligence analyst, stated that while Franklin Templeton’s filing is not particularly surprising, the involvement of such a significant asset manager in the Solana ETF request lends legitimacy and support that could facilitate its future adoption.
Regarding Solana’s performance, the asset has seen a 2.5% increase in the last 24 hours, trading at $125.84 at the time of publication.
