Franklin Templeton Files for Spot Solana ETF Amidst Growing Institutional Interest

On February 10, Franklin Templeton registered a "Franklin Solana Trust" in Delaware, signaling a potential move to launch a spot Solana ETF in the U.S. This follows the SEC's acknowledgement on February 11 of filings from 21Shares, Bitwise, Canary Capital, and VanEck for similar Solana ETFs, and Grayscale's filing on February 6. Bloomberg analysts estimate a 70% chance of spot Solana ETF approval by the end of 2025. Separately, as of January 31, Sol Strategies was selected as the staking provider for 3iQ Corp.'s Solana Staking ETF, holding 189,968 SOL, worth approximately $38 million. 3iQ submitted preliminary prospectuses on January 28 to list Solana and XRP ETFs on the Toronto Stock Exchange.