Solana ETF Buzz Intensifies as JetBolt Hype Grows: Could SOL Surge 10x During Altseason?

As the flurry around Exchange-Traded Funds (ETFs) continues to grow, global asset management giant Franklin Templeton has jumped into the mix

Asset management giant Franklin Templeton filed for a Solana ETF on February 21st.

The firm added staking to its application, aiming to attract more institutional and retail investors with the added income stream through rewards “which may be treated as income to the fund”, according to the filing.

If approved, the Franklin Solana ETF will be listed on the Cboe BZX Exchange. Coinbase Custody Trust Company LLC will act as the custodian, providing secure storage for Solana holdings.

Interestingly, last week, the SEC’s Crypto Task Force engaged in discussions with Jito Labs and Multicoin Capital Management, exploring topics related to ETP staking.

Additionally, the task force continues to ask feedback from other crypto firms.

With a change in leadership perspective, analysts project a 70% likelihood that the Solana ETF will receive approval this year, though there remains regulatory compliance concerns and timing issues.

However, despite this significant development, SOL’s price continues a downtrend, dropping more than 10% in the past seven days and losing 2% in the last 24 hours.

Trading at $164.63 as of writing, SOL is showing signs of mildly recovering, but must break above the bearish channel and hold support at $170 to start an uptrend. Some analysts further suggest that traders should wait for confirmation above $180, making SOL’s target of surging 10x looks challenging to reach in the next few months.