Franklin Templeton, one of the first firms to issue a spot Bitcoin exchange-traded fund (ETF) in the United States, is looking to add more assets to back new cryptocurrency ETFs, including Solana.
“Besides Bitcoin and Ethereum, there are other exciting developments that we believe will drive the crypto space forward,” Franklin Templeton wrote in a post on X on July 23. The post added:
“Solana has shown significant adoption and continues to mature, overcoming technical challenges and highlighting the potential of high-throughput, monolithic architectures.”
Franklin Templeton’s spot Ethereum ETF has launched trading on the Chicago Board Options Exchange (CBOE). The new Ethereum ETF, listed as EZET, is offered on CBOE’s BZX exchange at a fee of 0.19%, or 19 basis points. However, Franklin Templeton has waived these fees to 0% until January 31, 2025, for the first $10 billion in fund assets.
EZET’s launch comes about six months after Franklin Templeton introduced its spot Bitcoin ETF in January 2024, joining other major issuers like Grayscale, BlackRock, and Fidelity.
“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,” said Patrick O’Connor, Franklin Templeton’s head of global ETFs.
The anticipation for a Solana ETF has been high since VanEck filed for a Solana ETF called the VanEck Solana Trust in June 2024. Major competitors like 21Shares have also submitted applications for a Solana ETF with the U.S. Securities and Exchange Commission.
Summary Review: Franklin Templeton’s exploration of new cryptocurrency ETFs, including those based on Solana, marks a significant step in the evolution of digital asset investment. Their successful launch of both Bitcoin and Ethereum ETFs highlights the growing acceptance and potential of these assets in traditional finance. As Franklin Templeton and other major firms continue to innovate, the crypto space is poised for further expansion and integration into the mainstream financial markets. The interest in Solana, in particular, underscores its potential to become a key player in this rapidly evolving landscape.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
