SEC accepts Franklin Templeton's application for a Solana spot ETF

Franklin Templeton has taken a new step in the digital assets sector by submitting an application for a spot Solana ETF, which has been accepted for review by the SEC. The proposal, filed through the Cboe BZX Exchange, includes a request for approval of SOL staking, comparing this practice to collecting dividends in traditional equity ETFs.

The SEC's decision to consider this ETF comes amid increasing interest in cryptocurrency-based financial products. If approved, Franklin Templeton's ETF could attract both institutional and retail investments in Solana, providing a regulated method of exposure to the digital asset.

The firm, which manages over $1.5 trillion in assets, joins other major players such as Grayscale and VanEck in the competition to launch a Solana ETF. However, the SEC has postponed decisions on multiple altcoin ETFs, including SOL, XRP, and DOGE, with a final ruling expected by October 2025.