Franklin Templeton launched a Solana ETF with the deliberately playful ticker SOEZ, joining the rapidly expanding market for institutional SOL investment products. The $1.69 trillion asset manager began trading the Franklin Solana ETF on NYSE Arca on Tuesday.
The ticker choice immediately sparked attention across crypto communities. Franklin Templeton Digital Assets acknowledged the intentional branding in a social media post, stating the product makes exposure to SOL "almost too easy."
The launch adds institutional heft to a Solana ETF sector that has accumulated approximately $933 million in total assets across six existing products.
Tuesday saw Solana ETFs record $45.77 million in net inflows, signaling sustained demand despite recent market volatility.
What Happened
Franklin Templeton's SOEZ joins six existing Solana ETFs trading on major U.S. exchanges, including Bitwise's BSOL, Grayscale's GSOL, 21Shares' TSOL, Fidelity's FSOL, VanEck's VSOL and Canary's SOLC. The product includes a staking component that captures additional yield from SOL's native rewards, according to The Block.
Roger Bayston, Franklin Templeton's head of digital assets, positioned Solana as "becoming a core layer of the digital economy" in a statement. The firm emphasized the blockchain's speed and efficiency supporting applications from tokenized assets to next-generation financial infrastructure.
The ETF expands Franklin Templeton's digital asset lineup, which includes the Franklin Bitcoin ETF (EZBC), Franklin Ethereum ETF (EZET), Franklin XRP ETF (XRPZ), and Franklin Crypto Index ETF (EZPZ). The crypto index fund recently expanded to include XRP, Solana, Dogecoin, Cardano, Stellar Lumens and Chainlink alongside Bitcoin and Ethereum.
Franklin Templeton filed its final regulatory documents with the Securities and Exchange Commission on Nov. 26. The subsequent approval and NYSE Arca listing occurred within one week, according to Coinspeaker.
Why It Matters
Franklin Templeton's entry brings significant credibility to the Solana ETF market given the firm's scale and traditional finance relationships. Asset managers often view Franklin products as core portfolio holdings, potentially directing capital toward SOEZ from automated allocation systems and institutional portfolios.
The memetic ticker could attract retail investors familiar with Solana's meme-driven culture. Solana emerged as one of the most culturally engaged blockchain networks, with community members creating viral content around SOL price movements and ecosystem developments.
Solana ETFs have attracted over $650 million in cumulative net inflows since launching in late October, contrasting with billions withdrawn from Bitcoin and Ethereum ETF products during the same period. The divergence suggests growing institutional interest in alternative layer-1 blockchain exposure beyond Bitcoin and Ethereum.
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Bitwise's BSOL currently dominates the Solana ETF market with over $527 million in cumulative inflows, representing more than 80% market share. Grayscale's GSOL holds approximately $100 million in net assets, according to multiple data providers.
The rapid regulatory approval timeline for Franklin's product signals potential SEC openness to additional digital asset ETF applications. Multiple issuers have pending applications for various cryptocurrency products, with the Franklin approval potentially setting precedent for expedited review processes.
Solana traded around $141 at press time, up approximately 10% over 24 hours.
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