Franklin

Solana

<p class="is-style-lead"><a href="https://crypto.news/tag/Franklin-Templeton/" rel="noopener noreferrer nofollow">Franklin Templeton</a>, a trillion-dollar asset management firm, has recently expressed its support for the <a href="https://crypto.news/tag/solana/" rel="noopener noreferrer nofollow">Solana </a>network, leading to speculation about the possibility of a future Solana exchange-traded fund (ETF).</p>
<p>Solana (<a href="https://crypto.news/price/solana/" rel="noopener noreferrer nofollow">SOL</a>) is increasingly attracting attention from leading investment firms, with Franklin Templeton being the latest to express support. Founded in 1947, Franklin Templeton praised Solana’s protocol co-founder Anatoly Yakovenko’s vision on X on Jan. 17.</p>
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   <p lang="en" dir="ltr">On Solana, we see Anatoly’s vision of a single atomic state machine as a powerful use case of decentralized blockchains, lowering information asymmetry. And we are impressed by all the activity seen on Solana in Q4 2023<br>-DePIN<br>-DeFi<br>-Meme coins<br>-NFT innovation<br>-Firedancer</p>— Franklin Templeton (@FTI_US) <a href="https://twitter.com/FTI_US/status/1747717389943558630?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 17, 2024</a>
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<p>Franklin Templeton highlighted the potential of Yakovenko’s concept of a single atomic state machine in decentralized blockchains, which could reduce information asymmetry.</p>
<p>Franklin Templeton also pointed to several areas of growth within the Solana network, including decentralized finance (<a href="https://crypto.news/tag/defi/" rel="noopener noreferrer nofollow">defi</a>), infrastructure networks, and nonfungible token (<a href="https://crypto.news/tag/NFT/" rel="noopener noreferrer nofollow">NFT</a>) innovations.</p>
<p>The recent <a href="https://crypto.news/solana-meme-coin-dogwifhat-soars-70-amid-buzz-of-potential-binance-listing/" rel="noopener noreferrer nofollow">rise of the Dogwifhat (WIF) memecoin</a> on Solana was playfully acknowledged by the firm, suggesting a potential change in their profile picture on X to feature Benjamin Franklin wearing a knitted hat, referencing this new coin.</p>
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   <p lang="en" dir="ltr">You are unsure how to feel about Laser Eye Ben? Just think instead of Ben wif hat</p>— Franklin Templeton (@FTI_US) <a href="https://twitter.com/FTI_US/status/1747703202664112232?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 17, 2024</a>
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<p>Apart from its known prowess in defi and NFT sectors, Solana has been instrumental in developments such as DePIN and Firedancer. DePIN aims to manage vital physical resources, finding applications in sectors like energy. Meanwhile, <a href="https://crypto.news/solana-soars-90-in-a-month-as-firedancer-testnet-launches/" rel="noopener noreferrer nofollow">Firedancer</a>, a third-party validator client, seeks to enhance transaction processing and overall efficiency on the Solana blockchain.</p>
<p>You might also like: <a href="https://crypto.news/solana-price-set-for-150-rally-as-sol-staking-spikes-450-million/" rel="noopener noreferrer nofollow"> Solana price set for $150 rally as SOL staking spikes $450m </a></p>
<p>While Franklin Templeton <a href="https://twitter.com/FTI_US/status/1747708193378025475" target="_blank" rel="noopener noreferrer nofollow">acknowledged </a>other platforms such as Ethereum, Bitcoin Ordinals, BTC-based layer 2s, and various other Layer 1 networks, its digital assets team seemed particularly inclined towards Solana.</p>
<p>The focus Franklin Templeton gave to Solana led numerous cryptocurrency enthusiasts on X to <a href="https://twitter.com/GoonMachine/status/1747718190007009787" target="_blank" rel="noopener noreferrer nofollow">voice </a>their anticipation that the asset management firm might consider releasing a Solana ETF in the future.</p>
<p>Meanwhile, a post from Bitcoin proponent “Lex” suggested the possibility of a Solana-based ETF being introduced shortly.</p>
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   <p lang="en" dir="ltr">SEC will never approve BTC ETF<br>→ You are here ←<br>SEC will never approve ETH ETF<br>SEC will never approve SOL ETF</p>— lex (@mskvsk) <a href="https://twitter.com/mskvsk/status/1745596499130798523?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 12, 2024</a>
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<p>Following the <a href="https://crypto.news/bitcoin-etf-approval-crypto-volume-spiked-market-cap-rose/" rel="noopener noreferrer nofollow">launch of spot Bitcoin ETFs</a> on Jan. 11, there’s an industry-wide expectation for other crypto assets, including Ether and XRP, to feature in United States spot crypto ETFs.</p>
<p>Analysts predict that the U.S. Securities and Exchange Commission will make a final decision on several pending spot Ether ETFs around May.</p>
<p>While Franklin Templeton has not filed for a spot <a href="https://crypto.news/blackrocks-larry-fink-points-to-value-in-ethereum-etfs-crypto-asset-class/" rel="noopener noreferrer nofollow">Ether ETF</a>, it has expressed enthusiasm for Ethereum and its ecosystem, acknowledging recent challenges but foreseeing a bright future.</p>
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   <p lang="en" dir="ltr">We are excited about ETH and its ecosystem. Despite the midlife crisis it's recently experienced, we see a bright future with many strong tailwinds to push the Ethereum ecosystem forward<br>-EIP 4844<br>-Alt DA<br>-Community Revitalization<br>-Restaking</p>— Franklin Templeton (@FTI_US) <a href="https://twitter.com/FTI_US/status/1747715395614867735?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">January 17, 2024</a>
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<p>The firm is particularly interested in developments like Protodank Sharding via <a href="https://crypto.news/ethereum-core-devs-to-discuss-getting-eip-4844-considered-for-inclusion/" rel="noopener noreferrer nofollow">EIP-4844 </a>and restaking, which involve adding cheaper data to blocks and recycling staked Ether for fees and rewards, respectively.</p>
<p>The firm is also <a href="https://twitter.com/FTI_US/status/1747719379373162565" target="_blank" rel="noopener noreferrer nofollow">keeping an eye</a> on other layer-1 blockchains, which they believe have significant potential, though specific networks were not mentioned.</p>
<p>Read more: <a href="https://crypto.news/solana-mobile-opened-pre-orders-for-new-smartphone/" rel="noopener noreferrer nofollow"> Solana Mobile opened pre-orders for new smartphone </a></p>

Franklin Templeton eyes Solana network: A prelude to a Solana ETF?

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