{"id":14541,"date":"2025-02-23T04:03:22","date_gmt":"2025-02-23T04:03:22","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=14541"},"modified":"2025-02-23T04:03:22","modified_gmt":"2025-02-23T04:03:22","slug":"spot-solana-etf-race-intensifies-as-franklin-templeton-submits-application","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=14541","title":{"rendered":"Spot Solana ETF Race Intensifies As Franklin Templeton Submits Application"},"content":{"rendered":"
\n

Franklin Templeton<\/a>, one of the world\u2019s largest asset management firms, has submitted a proposal to the United States Securities and Exchange Commission (SEC) to issue a spot Solana ETF (exchange-traded fund). The asset manager joins several other applicants in the race to offer a SOL-based investment product to US investors.<\/p>\n

Franklin Templeton To Offer Staking In Spot Solana ETF<\/strong><\/h2>\n

On Friday, February 21, Franklin Templeton filed<\/a> for an exchange-traded product that will track the spot price of the fifth-largest cryptocurrency Solana. Franklin Templeton\u2019s Solana ETF will be listed on the Cboe BZX Exchange, with Coinbase Custody Trust Company, LLC serving as custodian.<\/p>\n

The firm\u2019s registration statement read:<\/p>\n

\n

The Franklin Solana Trust (the \u201cTrust\u201d) is organized as a Delaware statutory trust. The Franklin Solana ETF series of the Trust (the \u201cFund\u201d) issues shares (\u201cShares\u201d) representing fractional undivided beneficial interests in its net assets. The assets of the Fund consist primarily of Solana held by a custodian on behalf of the Fund. The Fund seeks to reflect generally the performance of the price of Solana. The Fund seeks to reflect such performance before payment of the Fund\u2019s expenses.<\/p>\n<\/blockquote>\n

In its filing with the SEC, Franklin Templeton revealed that it may occasionally stake a portion of the ETF\u2019s assets through one or more trusted staking providers. According to the firm, the \u201cFund\u201d would receive Solana tokens as rewards (which would also be treated as \u201cincome to the Fund\u201d) for engaging in any staking activity.<\/p>\n

\"Solana<\/p>\n

This spot Solana ETF would join the Bitcoin and Ethereum exchange-traded funds in Franklin Templeton\u2019s growing list of crypto products in the United States. Earlier this week, the asset manager launched its combined ETH and BTC ETF<\/a> after receiving SEC approval in December 2024.<\/p>\n

Franklin Templeton\u2019s proposal to offer the staking option in its spot Solana ETF is not exactly novel, as multiple issuers have considered this in other crypto products. For instance, the New York Stock Exchange filed for staking on Grayscale\u2019s Ethereum ETFs, while Cboe BZX Exchange is looking to offer staking on 21Shares\u2019 Ethereum fund.<\/p>\n

With the digital asset regulatory landscape improving in the United States, it is no surprise to see more traditional firms file for new crypto-based financial products<\/a>. The growing clarity in the US crypto space was spotlighted by the SEC\u2019s decision to drop its case against Coinbase.<\/p>\n

Solana Price Overview<\/strong><\/h2>\n

The price of SOL barely reacted to the news of Franklin Templeton\u2019s spot Solana ETF filing. As of this writing, the Solana price stands at around $170, reflecting a 2% decline in the past 24 hours.<\/p>\n

\"Solana<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Franklin Templeton, one of the world\u2019s largest asset management firms, has submitted a proposal to the United States Securities and Exchange Commission (SEC) to issue a spot Solana ETF (exchange-traded fund). The asset manager joins several other applicants in the race to offer a SOL-based investment product to US investors. Franklin Templeton To Offer Staking […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-14541","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14541"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/14541\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}