Franklin Templeton formally registered the “Franklin Solana Trust” in Delaware, suggesting intentions to launch an ETF based on Solana-based trading in the United States. This calculated action positions the asset management company among other big financial companies fighting to launch Solana ETFs on the market.
Made with Delaware’s corporate regulatory agency, the document shows that CSC Delaware Trust Company—known for managing bitcoin trust products for several asset managers—created the trust. Franklin Templeton is positioned in this stage next to rivals including Grayscale, Bitwise, VanEck, and Canary Capital, all of which have already entered the Solana ETF competition.
Franklin Templeton’s Solana ETF needs regulatory documentation—including Form 19b-4 and Form S-1—sent to the U.S. Securities and Exchange Commission (SEC) if it is to advance. Like Franklin’s current Bitcoin and Ethereum ETFs, which are now traded on the Cboe BZX Exchange, these papers formally seek permission for listing and trading the fund.
Industry analysts predict a high probability of approval for a Solana ETF, with some estimating a 70% chance by the end of 2025. Regulatory ambiguities still exist, nevertheless, especially with relation to Solana’s security designation. Before the SEC can evaluate the ETF from a commodities perspective, this problem has to be resolved.
Recently, the SEC approved multiple applications for Solana ETFs from companies including 21Shares, Bitwise, Canary Capital, and VanEck. This acknowledgment changes the regulatory scene, which under past leadership had been more hostile.
If granted approval, the Franklin Solana Trust would monitor Solana’s market performance, thereby capitalizing on the growing acceptance of cryptocurrencies. Solana has been praised for its high transaction speeds and expanding decentralized finance ecosystem, positioning it as a major player in the blockchain space.
With the SEC now reviewing multiple Solana ETF applications, market watchers anticipate further developments that could pave the way for increased institutional investment in the cryptocurrency sector.
