Franklin Templeton Solana ETF approved by NYSE Arca, set to begin trading soon

Franklin Templeton Solana ETF has received official approval from NYSE Arca and is about to enter the trading phase. This means the fund will soon become one of the newest Solana (SOL) spot ETFs in the US market, competing with six existing SOL funds for the attention of institutional and retail investors.

According to the latest documents filed with the US Securities and Exchange Commission (SEC), NYSE Arca has approved the ETF’s listing application, which is the final key step before the product begins trading. Franklin Templeton had previously submitted its final regulatory filings, which usually means the fund can be launched within days. Notably, the company recently successfully launched an XRP ETF, and the advancement of this SOL ETF is seen as a significant move in its proactive expansion into crypto assets.

The Franklin Templeton Solana ETF will use the trading symbol SOEZ and will operate as a passive fund tracking the CF Benchmarks Solana Index. The ETF will trade on NYSE Arca, providing US investors with a more convenient institutional channel for Solana investments.

This week, the Solana ETF market has seen significant volatility. Data shows that the asset class experienced a single-day net outflow of $13.55 million, with the majority coming from a $32.54 million redemption in the 21Shares TSOL fund. However, Franklin has continued to expand its crypto index ETF offerings, incorporating Solana and other digital assets into more portfolios. This adjustment benefits from the SEC’s approval of Cboe’s new listing standards, opening the door for more crypto ETFs.

Roger Beston, Franklin’s Head of Digital Assets, stated that investor demand is expanding from first-generation crypto assets to networks with real-world applications. He emphasized that Solana, relying on its strong community, payment capabilities, and smart contract functions, is becoming a key asset favored by institutions.

Institutional interest in Solana continues to rise. Forward Industries announced a partnership with Sanctum to issue the liquid staking token fwdSOL and will convert 1.7 million SOL for use in DeFi yield strategies. Previously, the company held $1.6 billion worth of SOL through its Solana treasury program. In addition, Upexi has completed a $10 million private fundraising round to expand its Solana strategic deployment.

With the imminent listing of the Franklin Templeton Solana ETF, institutional participation and capital attention toward Solana are accelerating, further strengthening SOL’s leading position in the crypto market.