Franklin Templeton Files for Spot Solana (SOL) ETF with CBOE

This filing, part of the latest Solana news, comes just one day after the asset management giant submitted an application for an XRP ETF

In a filing on Monday, March 12, asset management firm Franklin Templeton submitted an application for a Solana ETF, continuing its rapid entry into the cryptocurrency market.

The filing with the SEC aims to list and trade shares of the proposed ETF on the Chicago Board Options Exchange (Cboe) BZX Exchange. With over $1.5 trillion in assets under management, this move makes Franklin Templeton the largest asset manager to pursue a Solana ETF.

A screenshot of Franklin Templeton’s filing for the Solana ETF. Source: cdn.cboethe filing comes just one day after the asset management giant submitted an application for an XRP ETF, solidifying Franklin Templeton’s position as a leading force in the digital asset space.

The ETF is designed to track the market price of Solana (SOL), enabling investors to gain exposure to the cryptocurrency without directly holding the asset. Notably, the filing also urges the SEC to allow staking of the fund’s underlying SOL to earn additional rewards, which the filing likened to receiving dividends in traditional equity markets.

“Not staking the Fund’s SOL would amount to waiving the Fund’s right to free additional SOL,” the filing stated.

Franklin Templeton is gaining attention in the crypto market with its efforts to launch a spot Solana ETF. Source: FCG Studio via X

This marks a significant step for Solana in the traditional finance world, especially considering the growing interest in Solana-based investments.

Following the XRP ETF Filing

The Solana ETF application closely follows Franklin Templeton’s submission for a spot XRP ETF, which was accepted by the SEC earlier this year. The XRP filing, which is part of recent Solana news discussions, aims to reflect the performance of XRP’s price through shares representing fractional undivided beneficial interests in the fund’s net assets.

$1.5 Trillion Franklin Templeton Files for Spot XRP ETF with CBOE. Source: Amelie via X

“The Franklin XRP ETF series of the Trust seeks to reflect generally the performance of the price of XRP,” the filing detailed.

The filing also mentions that the Trust will not engage in any arbitrage activity to maintain a close correspondence between the ETF’s net asset value and the market price of XRP.

"In the absence of material changes in economic conditions or in the market for XRP, it is the intent of the Trust to adjust the size of the ETF series to maintain a close correspondence between the ETF's NAV and the market price of XRP," the filing stated.Once the SEC acknowledges the 19b-4 filing, it will be published in the Federal Register, initiating the review process.

The news comes as several other asset managers, including Cathie Wood’s ARK Invest, have also filed for applications to launch Solana ETFs. According to Bloomberg analysts, there is a 70% chance of SEC approval for Solana ETFs by October 2025. This period will be crucial for cryptocurrency Solana news, with anticipation mounting over the regulatory review.

"I don't think it's particularly newsworthy or noteworthy... mostly to be expected," said James Seyffart, a Bloomberg Intelligence analyst, in an interview with Blockworks. "But a big asset manager like Franklin throwing their hat in the ring for Solana isn't completely meaningless."

Solana (SOL) was trading at around $126.08, up 0.87% in the last 24 hours at press time. Source: Brave New Coin

Experts will be watching any movements in the Solana price closely, as the ETF filings could impact Solana’s market trajectory. The recent Solana news on this front could help shift the dynamics within the crypto landscape.

As Franklin Templeton continues its rapid expansion into the cryptocurrency market, the asset management firm has submitted an application for a Solana ETF. The filing, dated March 12, 2025, comes just one day after the asset management giant submitted an application for an XRP ETF, solidifying Franklin Templeton's position as a leading force in the digital asset space.

The filing with the SEC aims to list and trade shares of the proposed ETF on the Chicago Board Options Exchange (Cboe) BZX Exchange. With over $1.5 trillion in assets under management, this move makes Franklin Templeton the largest asset manager to pursue a Solana ETF.

The ETF is designed to track the market price of Solana (SOL), enabling investors to gain exposure to the cryptocurrency without directly holding the asset. Notably, the filing also urges the SEC to allow staking of the fund's underlying SOL to earn additional rewards, which the filing likened to receiving dividends in traditional equity markets.

"Not staking the Fund's SOL would amount to waiving the Fund's right to receive additional SOL," the filing stated.

This filing marks a significant step for Solana in the traditional finance world, especially considering the growing interest in Solana-based investments.

Following the XRP ETF Filing

The Solana ETF application closely follows Franklin Templeton's submission for a spot