Cboe BZX has submitted an application for a Solana exchange-traded fund (ETF) on behalf of Franklin Templeton, which will hold spot SOL. The application encourages the SEC to permit the staking of SOL for extra rewards, arguing that not doing so would be similar to an equity ETP forgoing dividends. Franklin Templeton joins several other firms like Grayscale and VanEck in applying for Solana-based investment products. Recent regulatory changes, including the January resignation of former SEC Chair Gary Gensler, along with the SEC's recent postponement of decisions on various altcoin ETFs, have created an environment that may favor these applications. Analyst insights suggest that the delay is a standard procedure and does not likely diminish the chances of approval for these ETFs, with decisions expected by October 2025. CEO Jenny Johnson of Franklin Templeton expressed optimism about the future of ETFs and mutual funds leveraging blockchain technology.

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