Franklin Templeton becomes largest asset manager to file for Solana ETF

Cboe BZX Exchange, on behalf of Franklin Templeton, on Wednesday filed a 19b-4 with the U.S. Securities and Exchange Commission to list and trade shares of the Franklin Solana ETF. At over $1.5 trillion in assets under management, Franklin Templeton is the largest asset manager to file for a Solana-based exchange-traded fund.

A 19b-4 filing is the second part of a two-step process for proposing a crypto ETF to the SEC. Once acknowledged by the SEC, the filing will be published in the Federal Register, initiating the agency's approval process.

The SOL filing comes one day after Franklin Templeton filed an S-1 to launch a spot XRP ETF. Since President Donald Trump took office, crypto-friendly policies have fueled a surge in ETF filings beyond bitcoin and ether.

As altcoin ETF filings pile up, Bloomberg ETF analysts last month estimated that Litecoin ETFs  have the highest chance of approval, putting the odds at a  90% chance . Dogecoin funds received a 75% chance of approval, followed by Solana (70%) and XRP (65%) products.

"I don't think it's particularly newsworthy or noteworthy," Bloomberg Intelligence analyst James Seyffart told The Block of Franklin's filing, noting the plethora of SOL ETF filings. "...mostly to be expected. But a big asset manager like Franklin throwing their hat in the ring for solana isn’t completely meaningless."

The price of solana is trading higher by 2.5% over the past 24 hours to $125.84, according to The Block's SOL price data .