Franklin Templeton Proposes Solana Staking ETF; Details

• Solana ETF with staking.
• Franklin Templeton at the SEC.
• Coinbase as custodian.

Investment management giant Franklin Templeton has just taken a bold step into the cryptocurrency ETF market. The company has filed an application with the U.S. Securities and Exchange Commission (SEC) to launch a cryptocurrency exchange-traded fund (ETF). Solana which includes staking, a strategy that could revolutionize the way investors access and profit from cryptocurrency.

Franklin Templeton's proposal comes at a time of optimism in the market, driven by the possibility of approval of ETFs for other cryptocurrencies by the SEC. Currently, only BTC and ETH funds are approved in the US market. The change in the regulatory body's stance, which now appears more open to cryptocurrency investment products, paves the way for new opportunities.

Franklin Templeton’s filing includes details about Solana staking, which would allow the fund to generate income by participating in the network’s validation. The firm notes that staking rewards would be considered income for the fund, which could attract investors looking for additional returns.

In your document filed on Feb. 21, the company noted: “In consideration of any staking activity in which the Fund may engage, the Fund would receive certain Solana token staking rewards, which may be treated as income to the Fund.”

The selection of Coinbase Custody Trust Company as the ETF custodian reinforces the credibility of the proposal, as Coinbase is one of the largest and most respected cryptocurrency exchanges in the world. The ETF shares would be listed on the Cboe BZX Exchange, facilitating investors' access to the product.

The race for Solana ETFs is fierce, with several companies competing to launch their products on the market. Franklin Templeton's proposal, with its staking differential, could stand out and attract a large number of investors.

At the time of publication, the price of Solana was listed at US$173,79 with a drop of 2.2% in the last 24 hours.