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Franklin Templeton formally joins the rapidly expanding field of altcoin ETF applications. Franklin’s Delaware filing hinted at a spot ETF filing, a rule other issuers have previously followed.

 

The $1 trillion asset manager submitted registration paperwork for a Franklin Solana Trust in Delaware with other companies seeking to introduce Solana spot ETFs in the world’s largest economy.

Franklin has submitted paperwork for Solana Trust. As early as July 2024, the asset manager stated that SOL had a bullish future. The company said Solana is one of the “other exciting” cryptocurrency projects along with Bitcoin and Ethereum, which will likely spur adoption.

The network’s ability to overcome past technological growth pains amid Solana’s maturity.

The U.S. government authorized spot ETFs for Bitcoin and Ethereum. The Securities and Exchange Commission has hinted at the possibility of adding more products with the acceptance of forms 19b-4 for Litecoin and Solana ETF applications.

The U.S. government approved Grayscale and Canary’s applications to list exchange-traded funds on the two crypto assets.