Cboe has submitted a request to the U.S. Securities and Exchange Commission (SEC) for a rule change that would allow the listing of an exchange-traded fund (ETF) proposed by Franklin Templeton. This fund aims to track Solana, the sixth-largest cryptocurrency by market value, reflecting a notable increase in interest for Solana-based funds. Once the SEC acknowledges this submission, it has 240 days to decide on the approval or denial. Several firms have recently applied for ETFs that track other cryptocurrencies including XRP, Litecoin, Dogecoin, and Cardano, following the successful approval of spot bitcoin ETFs which now hold nearly $100 billion in assets. The recent trading price of Solana was about $124, down from its all-time high in January amidst a broader downturn in the cryptocurrency market. Franklin Templeton has been involved in digital assets since 2019, and their current proposal signifies the ongoing maturation of the cryptocurrency ETF landscape.

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