Home CryptocurrencyBitcoin Franklin Templeton raises hopes for Solana spot ETF after praising the network

Franklin Templeton raises hopes for Solana spot ETF after praising the network

by SuperiorInvest

Trillion-dollar asset management firm Franklin Templeton’s recent praise of the Solana network on X (Twitter) has raised new hopes for a potential Solana exchange-traded fund (ETF) in the distant future.

In a social media post on January 16, the asset manager’s official X account, which was temporarily managed by the firm’s digital assets team, said it was “impressed” by numerous developments in the Solana ecosystem under the leadership of Anatoly Yakovenko.

“We see Anatoly’s vision of a single atomic state machine as a powerful use case for decentralized blockchains, reducing information asymmetry,” Franklin said on January 17.

The firm listed the growth of decentralized finance (DeFi), infrastructure networks, non-fungible token innovations, and even memecoins among Solana’s most notable developments in the last quarter alone.

The company even made a joke about Changing his current profile photo adorned with a laser eye in an

Although the asset manager also referenced the Ethereum network, Bitcoin Ordinals, BTC-based Layer-2, and “other L1s,” but most of the praise from Franklin Templeton’s digital asset team seemed directed at Solana.

The biased praise of Solana led many Crypto X users to speculate that Franklin Templeton might attempt to issue a Solana ETF product in the future.

“Ok guys. The Solana ETF is next.” wrote User X pseudonym nxxn.

Meanwhile, a post by Bitcoin advocate “Lex” hinted that a Solana-based ETF may be just a matter of time.

Since the launch of Bitcoin spot ETFs on January 11, many in the industry are hopeful that other crypto assets could appear in a US spot crypto ETF, including Ether (ETH) and XRP.

Several Ether spot ETFs are now awaiting SEC approval, many of which will receive a final decision from the US securities regulator around May, according to analysts.

Related: Blockchain adoption ‘accelerating very quickly’ in big finance: Franklin Templeton executive

While Franklin Templeton has not introduced an Ether ETF, he has shared positive sentiment towards the Ethereum ecosystem.

“We are excited about ETH and its ecosystem. “Despite the midlife crisis it has recently experienced, we see a bright future with many strong tailwinds to drive the Ethereum ecosystem,” Franklin said in a follow-up post on X.

Protodank Sharding, a mechanism that allows rollups to add cheaper data to blocks, via EIP-4844, and staking, the process of recycling Ether to earn fees and rewards, were two of four developments Franklin said was “excited” about Ethereum.

franklin saying It continues to monitor other Layer 1 blockchains. The firm did not name which networks, but said some have “huge potential.”

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