Published on juli 25, 2024, 12:28 am
Image source: Fox News
```json [ "Franklin Templeton is expanding its cryptocurrency investments by considering additional assets like Solana for new spot cryptocurrency ETFs.", "They have already launched a spot Bitcoin ETF and recently introduced the Franklin Ethereum ETF with waived fees until 2025 or $10 billion in assets.", "Investor interest in Solana ETF prospects has increased with competitors also filing for similar offerings, awaiting SEC decisions by mid-March 2025.", "Analysts predict a rise in crypto ETFs, especially Ether-based ones, indicating a growing trend in the cryptocurrency investment landscape." ] ```
Franklin Templeton is set to dive deeper into the world of cryptocurrencies by exploring additional assets to support new spot cryptocurrency ETFs, with a particular interest in ventures tied to Solana.
Establishing themselves as trailblazers in the realm of cryptocurrency investments, Franklin Templeton has already introduced a spot Bitcoin exchange-traded fund (ETF) in the United States. The firm’s positive outlook extends beyond Bitcoin and Ethereum to encompass other innovative developments that are anticipated to propel the crypto industry forward.
Notably, Franklin Templeton has expressed aspirations for potential Solana (SOL) ETFs. This revelation coincided with the launch of their second spot cryptocurrency ETF, namely the Franklin Ethereum ETF (EZET), on the Chicago Board Options Exchange’s (CBOE) BZX exchange. Priced at 0.19%, or 19 basis points, Franklin Templeton has chosen to waive fees entirely until January 31, 2025, or until the fund’s assets reach $10 billion.
This latest offering follows closely on the heels of Franklin Templeton’s introduction of its spot Bitcoin (BTC) ETF earlier this year alongside prominent issuers such as Grayscale, BlackRock, and Fidelity. Patrick O’Connor, Franklin Templeton’s head of global ETFs, expressed pride in expanding their digital asset ETF portfolio with EZET following the success of their spot Bitcoin ETF launch.
Investor enthusiasm surrounding Solana ETF prospects has surged following VanEck’s filing for a VanEck Solana Trust in June 2024; competitor 21Shares has also lodged a similar application with the US Securities and Exchange Commission (SEC). Industry experts project that decisions on these initial spot Solana ETF applications will likely be made by mid-March 2025 by the SEC.
Recent analyses align with predictions from Bloomberg ETF analyst Eric Balchunas who anticipates that Ether-based ETFs will pave the way for an influx of crypto ETFs including those focused on Solana. As anticipation builds within this dynamic sector, all eyes are on how these developments will shape the future landscape of cryptocurrency investments.
Original article posted by Fox News
