Trillion-Dollar Franklin Templeton Shares High Praise For Solana, Is A SOL ETF Coming?

American multinational asset management company Franklin Templeton has showered high praises on Solana, triggering widespread speculation about the potential of a Solana ETF in the future

Franklin Templeton’s Approval Of Solana Sparks ETF Talks

On Wednesday, January 17, Franklin Templeton’s official X account expressed their admiration for the Solana, commending the blockchain network’s progress and continuous developments within its eco

The asset management company highlighted Solana’s notable accomplishments during the fourth quarter of 2023. Specific mentions were made regarding Solana’s innovative NFT projects over the past months, its impactful presence in the DeFi eco as well as the introduction of new inventive meme coins like Dogwifhat, Myro Popcat, and more. Franklin Templeton also outlined additional achievements like Solana’s next-generation independent validator client, Firedancer, and its innovative DePIN projects

Although Solana previously experienced a significant decline in its NFT market, the blockchain network’s NFT sales volume witnessed a resurgence after recording a staggering increase recently. On Wednesday, Solana’s NFT volume rose above 92% on the Tiexo marketplace. Furthermore, the blockchain recorded substantial increases on two other prominent marketplaces, Tensor and Magic Eden, respectively

Overall, Franklin Templeton’s overwhelming praise for the Solana eco was taken with great optimism by the crypto community and SOL supporters. The favorable remarks sparked discussions regarding the potential introduction of a Solana ETF

Since Spot Bitcoin ETFs gained approval from the United States Securities and Exchange Commission (SEC), many investors, including Ripple CEO Brad Garlinghouse, anticipate the eventual entry of more ETFs into the market

Presently, the Ethereum Spot ETF stands as the next contender for approval by the SEC. And the final deadline for approving or rejecting several Ethereum Spot ETF applications is slated for May 23, 2024

SOL price at $98 | Source: SOLUSD on Tradingview.com

Community Members Skeptical About Potential SOL ETF

As excitement spreads in the crypto community over a possible Solana ETF, various crypto enthusiasts express differing views and opinions on its likelihood. It’s important to note that despite the enthusiasm, there has been no official discussion or confirmation of a Solana ETF by the cryptocurrency’s developers or utives.

Concerning a potential Solana ETF, a crypto community member, Lex has highlighted reasons why such a notion might face challenges. In the post, he outlined the SEC’s potential involvement in the decision regarding a Solana ETF. According to the community member, the SEC “would never approve a SOL ETF.”

Another member also provided a more in-depth explanation for the rejection of a Solana ETF, asserting that as the SEC had previously classified Solana as a security, it may not greenlight a Solana ETF unless a court officially declares the cryptocurrency as a non-security

However, in response to these speculations, Franklin Templeton said:

The lawyers won’t let us respond to comments, but we hear you

Disclaimer: The article is provided for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.