- Franklin Templeton registered “Franklin Solana Trust” in Delaware on February 10, 2024.
- Trust registration suggests the asset manager’s plans to launch a spot Solana ETF.
- CSC Delaware Trust Company, which handles crypto products for firms like Bitwise, processed the registration.
- Franklin Templeton would join five other firms competing in the Solana ETF race.
- SEC approval requires submission of both Form 19b-4 and Form S-1 documentation.
Asset management giant Franklin Templeton has taken its first step toward potentially launching a spot Solana exchange-traded fund (ETF), joining an increasingly competitive field of institutional players seeking to offer SOL exposure to traditional investors.
The registration of the “Franklin Solana Trust” through CSC Delaware Trust Company marks a significant development in the institutional adoption of Solana-based investment products. CSC Delaware Trust Company has established itself as a key facilitator for crypto-focused financial products, having previously processed similar registrations for established players like Bitwise.
The move positions Franklin Templeton alongside other major financial institutions including Grayscale, VanEck, 21Shares, and Canary Capital in the race to launch a Solana ETF. This development follows the recent successful launches of spot Bitcoin ETFs, which have demonstrated strong market demand for crypto-based investment vehicles.
To proceed with the ETF launch, Franklin Templeton must complete a comprehensive regulatory process with the Securities and Exchange Commission (SEC), including filing both Form 19b-4, which outlines the trading rules and risk considerations, and Form S-1, which provides detailed fund information and prospectus details.
A spot Solana ETF would allow traditional investors to gain exposure to SOL’s price movements without directly holding the cryptocurrency, potentially opening up the asset to a broader institutional investor base. The timing of this trust registration suggests growing institutional confidence in alternative cryptocurrency investments beyond Bitcoin and Ethereum.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- SEC Crypto Task Force Chief: Meme Coins Likely Outside Regulatory Scope
- Uniswap Launches New Layer-2 Blockchain with One-Second Block Times
- Uniswap Labs Launches UniChain L2 Network, Targets MEV Protection with Flashbots TEE Integration
- Sun Pump Platform Sees 99.9% Drop in Token Launches and Revenue
- Supreme Court Attorney Ordered Back to Jail Over Undisclosed Crypto Transactions Worth Millions
