Outside Source
- Franklin Templeton has said that Solana has shown “major adoption and continues to mature”
- The asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET)
- Franklin Templeton has agreed to fully waive its fees until January 2025 for the first $10bn in fund assets
Franklin Templeton has indicated it’s confident in the development of crypto exchange-traded funds (ETFs) claiming “there are other exciting and major developments” that will drive the crypto industry forward.
In a post of X, the asset manager wrote: “Besides Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward.”
Showing enthusiasm for a Solana ETF, Franklin Templeton added:
“Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architectures.”
Ethereum ETF Launch
The announcement from Franklin Templeton comes after the asset manager launched its second digital asset-backed ETF, the Franklin Ethereum ETF (EZET), which is available on the Chicago Board Options Exchange (Cboe).
Speaking of the launch, Patrick O’Connor, head of Global ETFs for Franklin Templeton, said: “After the success of our spot bitcoin ETF (EZBC) launch in January, we are proud to add EZET to our growing lineup of digital asset ETFs.”
O’Connor added that the company was “thrilled” to provide its clients more access to the digital asset industry in a “regulated fund structure that integrates seamlessly into traditional portfolios.”
As part of its launch, Franklin Templeton has agreed to fully waive fees until January 2025 for the first $10bn in fund assets.
Earlier this week, Cboe announced listing five ether ETFs following the US Securities and Exchange Commission’s (SEC) approval. Franklin Templeton was one of those, the others are 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, and VanEck Ethereum ETF.
Data shows that investors traded over $1bn worth of shares from the ether ETF issuers on the first day of availability, with a net inflow of $106.7m.
Solana ETFs
In July, Cboe also submitted two applications to list spot Solana ETFs on its platform: 21Shares and VanEck. Filing two 19b-4 form applications on July 8, the SEC has until March 2025 to make a decision.
According to the Cboe, a potential Solana ETF is similar to spot Bitcoin and spot Ethereum funds, adding “much like bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that “other means to prevent fraudulent and manipulative acts and practices” exist to justify dispensing with the requisite surveillance sharing agreement.”
This article first appeared at CoinJournal: Latest Crypto News, Altcoin News and Cryptocurrency Comparison
