tl;dr
Cboe has filed for a rules change with the SEC to list shares for a proposed Solana exchange-traded fund by Franklin Templeton. This comes shortly after Franklin Templeton's application and reflects the increasing pace of ETF proposals for Solana. The SEC has 240 days to decide once the submission i...
Cboe has filed for a rules change with the U.S. Securities and Exchange Commission to list shares for a proposed Solana exchange-traded fund by Franklin Templeton. This highlights the increasing pace of ETF proposals for Solana in the market. The SEC has 240 days to decide once the submission is acknowledged.
Public comment is now open for other proposed Solana funds by various firms. Grayscale Investments has also applied for an ETF, potentially indicating a wider range of proposals.
Additionally, Franklin Templeton has applied for ETFs tracking XRP, while other issuers have proposed funds for Litecoin, Dogecoin, and Cardano. This surge in ETF proposals for various cryptocurrencies has been triggered by the success of spot Bitcoin ETFs, which now manage nearly $100 billion in assets.
Solana's token is currently trading at about $124. Despite recent market volatility, it remains favored by meme coin developers. Franklin Templeton has been involved in the crypto space since 2019 and currently operates Ethereum and Bitcoin ETFs.
The SEC has started a period for public comment on spot Solana funds proposed by Canary Capital, VanEck, 21Shares, and Bitwise. Grayscale Investments has also applied for an ETF, further indicating the potential for a broader group of proposals.
Franklin Templeton is among several firms to apply for ETFs tracking XRP, the third largest cryptocurrency by market capitalization. Other issuers have also recently proposed funds tracking Litecoin, Dogecoin, and Cardano. These initiatives in the ETF space have followed the successful approval of spot Bitcoin ETFs, now managing close to $100 billion in assets.
The Solana token is currently trading at about $124, with its value largely flat over the past 24 hours, although less than half its all-time high set in January. Franklin Templeton first entered the crypto space in 2019, digitizing shares for a money market fund on the Stellar blockchain, and now operates Ethereum and Bitcoin ETFs.