Franklin Templeton Enters Solana ETF Race with SEC Filing

Franklin Templeton has officially entered the race for a Solana spot ETF, submitting an S-1 filing with the U.S. Securities and Exchange Commission (SEC) on February 21.

This follows its earlier registration of a Solana trust in Delaware, which will serve as the foundation for the ETF. If approved, the fund will be listed on the Cboe BZX Exchange, and Franklin Templeton has indicated it may stake some of its SOL holdings, treating any rewards as fund income.

The firm joins a growing list of asset managers awaiting SEC approval for Solana ETFs, including Grayscale, Bitwise, VanEck, 21Shares, and Canary Capital. While these firms have had their 19b-4 forms filed by prospective exchanges, Franklin Templeton now aligns with those vying for a listing on the Cboe BZX Exchange. Before an ETF can launch, both the 19b-4 and S-1 filings must gain SEC approval.

This latest move comes just a day after Franklin Templeton introduced its EZPZ Bitcoin and Ethereum ETF, which tracks BTC and ETH at an 82%-18% ratio on the Cboe BZX Exchange. The firm also offers dedicated Bitcoin and Ethereum ETFs, both launched last year, and currently manages $1.46 trillion in assets.