Franklin Templeton is expressing optimism about the future of cryptocurrency ETFs, including a potential product centered on Solana.
Franklin Templeton is expressing optimism about the future of cryptocurrency ETFs, including a potential product centered on Solana. “Beyond Bitcoin and Ethereum, we see significant developments that will propel the crypto space forward,” Franklin Templeton shared in a post on X on July 23. The post highlighted Solana’s impressive adoption, noting its maturation and ability to overcome technological challenges, thus showcasing the potential of its high-throughput, monolithic architecture.
This statement coincided with the launch of Franklin Templeton’s second spot cryptocurrency ETF, the Franklin Ethereum ETF (EZET), on the Chicago Board Options Exchange’s (CBOE) BZX exchange. Priced at 0.19%, or 19 basis points, the Ether ETF comes with a fee waiver until January 31, 2025, or until the fund reaches $10 billion in assets, making it an attractive option for early investors.
The introduction of EZET follows roughly six months after Franklin Templeton's successful debut of its spot Bitcoin ETF (EZBC) in January 2024. This initial launch placed them among prominent industry players such as Grayscale, BlackRock, and Fidelity, who entered the market simultaneously.
“Building on the success of our spot Bitcoin ETF (EZBC) launch in January, we are excited to add EZET to our expanding portfolio of digital asset ETFs,” stated Patrick O'Connor, Franklin Templeton’s head of global ETFs.
The anticipation for a Solana ETF has been building, especially since VanEck filed for its Solana ETF, the VanEck Solana Trust, in June 2024. Other major competitors, including 21Shares, have also submitted applications to the U.S. Securities and Exchange Commission (SEC), signaling strong interest in Solana-based ETFs. Industry analysts predict that the SEC will make final decisions on the initial spot Solana ETF applications by mid-March 2025.
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