Franklin Templeton submits request for Solana ETF. Analyst predicts 70% chance of approval this year. Demand for digital currency assets remains strong.
Franklin Templeton, an asset management company, has submitted its request to offer an Exchange-Traded Fund (ETF) based on Solana to the U.S. Securities and Exchange Commission (SEC). This move follows similar requests from major companies like Grayscale, Bitwise, Canary, 21Shares, and VanEck. Eric Balchunas, a senior ETF analyst at Bloomberg, has estimated a 70% chance of Solana ETFs being approved this year. Despite the recent drop in Solana’s price due to its association with the Libra token scandal, the demand for assets related to digital currencies remains strong. The significant success of Bitcoin ETFs in attracting over $40 billion in net capital last year paved the way for Ethereum ETF approvals in July.
