Solana has added a seventh exchange-traded fund. Asset manager Franklin Templeton has launched its own Solana ETF, allowing investors direct exposure to SOL via the stock market. The introduction comes as traditional players increasingly offer crypto products and U.S. regulators appear to be taking a milder stance than in previous years.
Franklin Templeton Launches Staking-Enabled Solana ETF #
The Franklin Solana ETF, trading under the ticker SOEZ on NYSE Arca, is not a standard product. It also distributes staking rewards, enabling investors to share in income that typically goes to network validators. This makes the ETF more attractive to institutional parties seeking exposure without managing or staking tokens themselves.
According to Roger Bayston, Head of Digital Assets at Franklin Templeton, Solana fits perfectly within the company’s vision. In a statement, Bayston said: “Solana is becoming a core layer of the digital economy. The speed and efficiency of the network support activities ranging from tokenized assets to next-gen financial applications, and that momentum continues to attract both developers and institutional parties.”
Franklin Templeton’s ETF is now the seventh on the market. Earlier, companies like Canary Capital, Bitwise, and Grayscale launched similar products. Wall Street giants Fidelity and VanEck have also joined. The first Solana ETF with staking was launched in July by REX-Osprey. With that, competition is fierce, but interest in Solana-focused products is growing due to this diversity.
Interest in Solana ETFs Cools After Record Inflows #
The Solana ETFs have recorded significant capital inflows since launch. In total, around €530 million has been poured into the Solana ETFs. Earlier this week, the funds even had their most successful day in months. On Tuesday, nearly €40 million flowed in, but on Wednesday, over €28 million flowed out.
It was expected that the launch of ETFs could also boost the price of Solana, as was the case with Bitcoin and Ethereum. However, this has not happened, and the SOL price remains stuck between $140 and $145. XRP is in a similar situation: although the ETFs perform well, the price stagnates.
With the launch of the Franklin Templeton fund, enthusiasm seems to be waning. Today alone, over €27 million has flowed out, according to data from SoSoValue.