Franklin Templeton Files for Solana ETF Amidst Growing Institutional Interest

On Friday, Franklin Templeton filed an S-1 registration with the SEC for a Solana ETF, aiming to mirror Solana's price performance. This move follows similar filings from Grayscale, Bitwise, Canary, 21Shares, and VanEck. Bloomberg analysts estimate a 70% chance of Solana ETF approval this year, pending regulatory review. Solana traded around $168, recently down 16% over the past week. This development occurs amid strong investor demand for crypto assets, fueled by the success of Bitcoin ETFs, which have seen over $40 billion in net inflows this past year. Franklin Templeton launched the Templeton Crypto Index ETF (EZPZ) on Thursday and currently manages $442 million in its Bitcoin ETF (EZBC) and $34 million in its Ethereum ETF (EZET).