Solana ETFs Next in Line As ETH ETF Debut, Here’s How the Future Looks Like
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Franklin Templeton eyes the launch of the Solana ETF to augment its exposure to digital assets. The firm made this revelation at the launch of its second-spot cryptocurrency ETF, the Franklin Ethereum ETF (EZET). The Ethereum ETF, with an initial expense ratio of zero, is listed on the CBOE BZX exchange. Franklin Templeton Debuts Ethereum ETF The Franklin Ethereum ETF was launched following the firm’s successful Bitcoin ETF earlier this year. For the first $10 billion in assets, Ethereum ETF fees are exempt until the end of January 2025 at 0.19%. This reflects Franklin Templeton’s plan to woo early investors. Franklin Templeton’s head of global ETFs, Patrick O’Connor, said in January after the launch of spot Bitcoin ETF (EZBC) he is pleased to bring EZET into the family of digital asset ETFs. This new addition underlines the firm’s strategy to increase its services related to cryptocurrencies. The launch comes as more investors are showing interest in digital assets. Franklin Templeton Eyes Solana ETF Opportunities The interest that Franklin Templeton has taken in Solana ETFs is due to the rise in the use of blockchain as well as the relative technological advancement of the network. The firm’s positive outlook also covers Solana’s high throughput design possibilities. This aligns with the current market shift towards introducing other types of cryptocurrency ETFs. How about Stellar? Is your team plugged in to recent and upcoming developments in the Soroban space? — dan.xlm (@Faerbear) July 23, 2024 VanEck and 21Shares have also submitted applications for Solana ETFs, showing market demand. Based on the current analysis, the SEC is expected to respond to all these applications by mid-March 2025. The prospect of a Solana ETF shows that the crypto investment market is constantly expands. Analyst Predicts Boom in Crypto ETFs Bloomberg ETF analyst Eric Balchunas opined…
Filed under: News - @ July 24, 2024 9:14 pm