Cboe submitted to list the Solana ETFs from Franklin Templeton. Franklin Tempron Solana ETF aims to track SOL Price. Solana (Sol) reached $129.60 after filing, but fell to $123.71 amid a wider cipher slump.
CBOE BZX Exchange filed a filing of 19B-4 with the U.S. Securities and Exchange Commission (SEC) on Wednesday, March 12, 2025, enabling the list of the Solana Exchange Transaction Fund (ETF) proposed by Franklin Templeton.
This filing illustrates a crucial step in bringing Solana (SoL), the sixth largest cryptocurrency by market value, into the mainstream financial products realm.
Notably, Franklin Templeton, a global investment giant that manages assets of more than $1.5 trillion, has submitted its first proposal for ETFs within a week, reflecting the accelerated interest in crypto-based funds between traditional financial institutions.
Proposed Franklin Templeton Solana ETF
The proposed Franklin Templeton Solana ETF aims to track the spot price of SOL, the blockchain native cryptocurrency known for its high-speed transactions and popularity of memecoin developers.
Franklin Templeton’s push to Solana follows a fierce gust of competition for similar applications from companies such as Greyscale Investments, Canary Capital, Bitwise, 21Share and Vaneck.
The SEC has already started a public comment period for some of these proposals, indicating a careful but positive evaluation process.
The Solana Funds’ momentum underscores a shift beyond Bitcoin and Ethereum, which dominate the ETF space with assets of $100 billion and $2.5 billion respectively. The Spot Ethereum ETF is less explosive than its Bitcoin counterpart, but has still attracted a significant influx since it debuted eight months ago, setting a precedent for Altcoin funds like Solana.
Unlike direct crypto ownership, ETFs can provide a familiar investment vehicle for institutional and retail investors, and may encourage wider adoption.
The SEC has 240 days to check the filing
A CBOE submission triggers a 240-day review period where the SEC must decide whether to approve or reject the request. This timeline will position the decision for the second half of 2025 and will potentially align with the wider wave of crypto ETF approvals.
The filing highlights Solana’s growing appeal despite its recent price range of around $124 from an all-time high.
In particular, this is not Franklin Templeton’s first foray into cryptocurrency. The company began exploring digital assets by digitizing stocks in the star blockchain money market fund in 2019 and digitizing the digital asset venture fund in 2021. He currently operates Bitcoin and Ethereum ETFs, indicating an increasingly specialized knowledge in the field.
The proposed Solana ETF could further diversify Templeton’s products and exploit markets eager to regulated exposure to Altcoins.
Solana price reaction
Despite seeing a slight increase to an intraday high of $129.60 after CBOE filling, Solana (SOL) returned to $123.71 at press, down 39% over the past month.
Solana Price is far below its January peak, affected by wider crypto defeats and thin hype around Meme Coins built on its blockchain.
However, the submission of Solana ETF suggests confidence in the long-term potential of Solana, especially as a scalable platform for distributed applications. If approved, Solana ETFs can inject fresh capital and stability into the Solana ecosystem, reflecting the conversion effect that Bitcoin ETF has had on its market.
