Asset management firm Franklin Templeton debuted its Solana exchange-traded fund, adding to its list of crypto-related investment products.
On Wednesday, the Franklin Solana ETF began trading under the ticker symbol SOEZ on NYSE Arca, a subsidiary of the NYSE Group. The fund includes staking rewards.
“Solana is becoming a core layer of the digital economy,” Roger Bayston, head of Digital Assets at Franklin Templeton, said in a statement. “Its speed and efficiency support activity that ranges from tokenized assets to next generation financial applications, and that momentum continues to attract both developers and institutions.”
Franklin Templeton has previously launched exchange-traded products tracking crypto assets like Bitcoin, ETH, and XRP, as well as a broader crypto index. The firm was beaten to issuing a Solana ETF by crypto natives like Canary Capital, Bitwise, and Grayscale, among others, as well as Wall Street providers like Fidelity and VanEck. REX-Osprey was the first to launch a fund earning staking rewards through its Solana ETF in July.
Over the past several weeks, firms have launched an array of crypto ETFs from ones tracking Chainlink to SOL to DOGE. Since the start of the second Trump administration almost a year ago, the U.S. Securities and Exchange Commission, which oversees ETFs, has taken a friendlier stance toward crypto than in years past. For example, the SEC has taken steps to provide clarity for digital assets and approved listing standards for certain ETFs, allowing them to begin trading more quickly.
SkyBridge Capital Founder Anthony Scaramucci touted Solana’s use during an interview with CNBC on Wednesday. Scaramucci, briefly the White House communications director under the first Trump administration, is coming out with a book called “Solana Rising.”
“Solana will be one of the big winners,” he said. “It’s not to say that the others are not also going to win. I believe they can cohabitate with each other.”
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