Franklin Templeton Joins Solana ETF Race Amid Rising Approval Odds

Franklin Templeton, managing $1.53 trillion in assets, has filed to launch a Solana (SOL) exchange-traded fund (ETF) in the U.S. The filing was submitted by Cboe BZX Exchange earlier this week, marking another major move by the financial giant, which also filed for an XRP ETF just days prior.

This makes Franklin Templeton the most significant player to enter both the Solana and XRP ETF markets. The Solana ETF race began when VanEck filed its application on June 27, followed by several other firms. However, the U.S. Securities and Exchange Commission (SEC) has recently delayed its decision on both the Solana and XRP ETFs.

Despite the delay, Polymarket bettors see an almost 90% chance of Solana ETF approval, reflecting optimism surrounding the crypto-friendly SEC administration. Investors are closely watching these developments as institutional interest in crypto ETFs grows.

The launch of a Solana ETF by a firm of Franklin Templeton’s stature could further legitimize SOL as an institutional asset and pave the way for wider adoption. If approved, it would provide regulated exposure to Solana, making it more accessible to mainstream investors.

With increasing demand for crypto investment products, the potential approval of both Solana and XRP ETFs could significantly impact the market, drawing new capital into the sector. As regulatory clarity improves, more traditional financial institutions may follow suit, accelerating the integration of cryptocurrencies into mainstream finance.