Franklin Templeton Seeks Approval for Solana ETF with Staking Features

• Franklin Templeton filed for the first ever Solana ETF with staking features. 
• Franklin joined the pile of Solana ETF filings following its Solana Trust registration. 

The crypto ETF frenzy is going on a full swing with new organizations joining the list of ETF filings. Franklin Templeton is the new firm that added to the growing pile of Solana ETF filings. The asset management firm registered “Franklin Solana Trust” earlier this month, hinting at the possible Solana ETF filing. 

The news came to light when Franklin Templeton filed an S-1 registration statement with the US SEC for a Solana ETF. The statement reads,

“The assets of the Fund consist primarily of Solana held by a custodian on behalf of the Fund. The Fund seeks to reflect generally the performance of the price of Solana.”

Unlike most of the crypto ETF filings that are advancing, Franklin’s Solana ETF comes with staking capabilities. The move comes at the right time as the US SEC Crypto task Force is already considering ETP staking. Even though the previous attempts at seeking approval for ETF staking have withdrawn, Franklin’s present filing seems to get an approval this time. 

Franklin Templeton Registered Franklin Solana Trust 

Earlier this month, Franklin Templeton registered a “Franklin Solana Trust” in Delaware, which was originally created on Feb 10. This was the first step before filing for a Solana ETF with the US SEC. 

Considering the fact that several Solana ETF filings advanced with the public comment period, it is only a matter of time before Franklin’s Solana ETF follows suit. Even popular market analysts are also affirming the possibility of Solana ETF approval. There is around a 70% chance that a Solana ETF will get approval as per Bloomberg ETF analyst James Seyffart. 

Despite being one of the top layer-1 blockchain with advanced capabilities, Solana has also succumbed to the dull market performance. It is trading at $172.16 at press time with a 1.76% drop in the last 24 hours. However, its trading volume surged by a notable 40% today. 

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