Financial giant Franklin Templeton’s recent endorsement of Solana (SOL) has sent ripples through the cryptocurrency world, fueling speculation about a potential Solana-focused exchange-traded fund (ETF). This news comes on the heels of the successful launch of Franklin Templeton’s Ethereum ETF, which garnered $13.2 million in initial inflows, adding to their already established Bitcoin ETF with over $450 million in assets.
Franklin Templeton’s positive outlook on Solana (SOL), highlighting its adoption and technological advancements, has sparked a firestorm of anticipation within the crypto community. Many believe this is a strong indication that the firm might be the next to file for a spot in the Solana ETF, following submissions from VanEck and 21Shares.
Industry experts seem to share this sentiment. Nate Geraci, President of the ETF Store, predicts a Solana ETF to be next in line, potentially accompanied by a bundled Bitcoin, Ethereum, and Solana ETF. Geraci’s past success in anticipating crypto ETF trends lends significant weight to his forecasts.
Matt Hougan, CIO at Bitwise, echoes this sentiment, predicting a crypto ETF era dawning in 2025. He envisions a future with multiple crypto-asset ETFs and index-based options, acknowledging the existing filings for Solana-based products.
Adding fuel to the fire, the Chicago Board Options Exchange (CBOE) recently submitted proposals to the SEC for Solana ETFs. This initiates a public comment period and sets a decision timeline stretching into 2025. The political landscape could also influence the approval process.
Industry analysts estimate the US SEC will deliver final verdicts on the first spot Solana ETF applications by mid-March 2025. Bloomberg ETF analyst Eric Balchunas suggests a crucial turning point in November’s elections. He believes a Trump victory could significantly impact the approval timeline. Balchunas previously predicted that the successful launch of Ether ETFs would pave the way for more crypto ETFs, including those focused on Solana.
While the exact arrival date of a Solana ETF remains uncertain, Franklin Templeton’s endorsement and ongoing regulatory processes point towards a future where investors will have increased access to this high-growth cryptocurrency through a traditional investment vehicle.