Franklin Templeton, one of the first firms to issue a Bitcoin exchange-traded fund (ETF) in the United States, is bullish on more cryptocurrency ETFs, including Solana’s product.
“Beyond Bitcoin and Ethereum, there are other exciting and important developments that I believe will drive the crypto space forward,” Franklin Templeton wrote in a July 23 post to X. The post added:
“Solana has demonstrated mainstream adoption and continues to mature while overcoming technical growing pains and highlighting the potential of a high-throughput monolithic architecture.”
Franklin Templeton’s Spot Ethereum ETF Launches on CBOE
The day Franklin Templeton released its statement on a potential Solana (SOL) ETF was the same day the firm launched its second spot cryptocurrency ETF, the Franklin Ethereum ETF (EZET).
The new Ether (ETH) ETF will be available on the Chicago Board Options Exchange (CBOE)’s BZX exchange at 0.19% or 19 basis points. Franklin Templeton has agreed to waive fees entirely through January 31, 2025, or on the first $10 billion of fund assets.
EZET’s launch comes roughly six months after Franklin Templeton launched a spot Bitcoin (BTC) ETF in January 2024, along with nine other Bitcoin ETF issuers including Grayscale, BlackRock, and Fidelity.
“Following the success of our Spot Bitcoin ETF (EZBC) which we launched in January, we are proud to add EZET to our growing lineup of digital asset ETFs,” said Patrick O’Connor, Global Head of ETFs at Franklin Templeton.
When is the Solana ETF?
The anticipation for a Solana ETF has generated tremendous investor interest since VanEck filed for a Solana ETF called the VanEck Solana Trust in June 2024. Major competitors such as 21Shares have also filed applications for Solana ETFs with the U.S. Securities and Exchange Commission (SEC).
Related: Spot Solana ETF Could Be 9x the Price of SOL – GSR Markets
According to industry analysts, the first application for the Solana ETF is expected to receive a final decision from the U.S. Securities and Exchange Commission (SEC) around mid-March 2025.
The news comes days after Bloomberg ETF analyst Eric Balchunas predicted that an Ether ETF would pave the way for more crypto ETFs, including a Solana-based spot ETF. He wrote:
“After launch, there’s a flow, adding ETH products, adding Solana, and… it probably never ends. The dam has burst.”
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