Franklin Templeton is now leading the competition to launch a Solana-backed Exchange-Traded Fund (ETF) in the United States.
Key Developments
- Final SEC Approval: Franklin Templeton has completed the final step with the SEC for its Solana ETF, meaning trading under the ticker SOEZ could commence imminently. The submission of Form 8-A is considered the "green light" for trading.
- Strong Market Demand:The launch follows significant investor interest in recent single-asset crypto products.
- Franklin Templeton's recently launched XRP ETF brought in nearly $70 million in its first two days.
- Solana-tracking funds have recorded an impressive 21 consecutive days of net positive inflows.
- Fund Details: The new ETF, SOEZ, will trade on NYSE Arca, passively track the Solana price via the CF Benchmarks index, and charge a 0.19% fee, which will be waived on the first $5 billion in assets until May 2026.
- Immediate Competition: Once listed, Franklin Templeton will compete with established issuers like 21Shares, VanEck, and Fidelity in the rapidly growing Solana ETF market. Analysts anticipate SOEZ will attract immediate attention due to the firm's brand and the success of its XRP ETF launch.
Franklin Templeton's Advantage
While not the first to file, Franklin Templeton's timing is opportune, capitalizing on the recent surge in demand for single-asset crypto ETFs. The firm's successful debut of its XRP ETF is expected to build momentum for its Solana offering.
Conclusion: The Bigger Picture
The rapid concentration of major financial firms around Solana exposure signals a significant shift in the digital-asset sector. The quick succession of multiple US spot Solana ETF approvals—a scenario that seemed improbable a year ago—underscores the accelerating institutional move to secure market share beyond just Bitcoin.
November 2025, Cryptoniteuae