In a bold move signaling the growing mainstream acceptance of digital assets, a major player in the investment world is setting its sights on expanding its cryptocurrency ETF offerings. Fresh off the launch of its Ethereum-based exchange-traded fund, Franklin Templeton is now hinting at the possibility of a Solana-focused product.
Ethereum ETF Debuts as Crypto Market Evolves
On July 23, Franklin Templeton introduced its latest crypto-based financial product, the Franklin Ethereum ETF (EZET), on the Chicago Board Options Exchange (CBOE) BZX platform. This launch follows the company’s successful entry into the Bitcoin ETF market earlier this year alongside other financial heavyweights.
The new Ethereum ETF has an attractive fee structure set at 0.19% (19 basis points). To entice early adopters, the company has decided to waive all fees until January 31, 2025, or until the fund accumulates $10 billion in assets.
Patrick O’Connor, who heads Franklin Templeton’s global ETF division, expressed pride in adding EZET to their growing lineup of digital asset ETFs. This builds on the momentum of their spot Bitcoin ETF (EZBC), launched in January.
Solana in the Spotlight
In an intriguing development, Franklin Templeton has publicly acknowledged the potential of Solana, praising its adoption rate and technological maturity. This statement has fueled speculation about a possible Solana-based ETF in the company’s future.
The investment firm isn’t alone in its interest in Solana. Other financial entities, including VanEck and 21Shares, have already filed applications with the U.S. Securities and Exchange Commission (SEC) for Solana ETFs. Industry analysts project that decisions on these applications could come as soon as March 2025.
The Expanding Crypto ETF Landscape
The rapid expansion of crypto-based ETFs has caught the attention of market observers. Bloomberg ETF analyst Eric Balchunas recently suggested that Ethereum ETFs could pave the way for a diverse range of crypto-based financial products, including those focused on Solana and other digital assets.
Launching these ETFs represents a significant milestone as the cryptocurrency market continues to mature and integrate with traditional finance. It reflects growing investor demand for regulated, easily accessible ways to gain exposure to digital assets.
Franklin Templeton’s moves in this space, from its Bitcoin and Ethereum ETFs to its expressed interest in Solana, underscore the ongoing evolution of the cryptocurrency investment landscape. As more institutional players enter the market, we’ll likely see an increasing variety of crypto-based financial products in the coming years.
