CBOE Refers for Rules Change to Table Franklin Templeton Solana ETF

Cboe on Wednesday&nbsp, filed for a guidelines change with the U. S. Securities and Exchange Commission that may allow the transfer to list shares for a Solana exchange-traded account proposed by Franklin Templeton.

The surrender comes less than week after the investment administrator applied for the ETF that would record the fifth largest crypto by business worth and underscores the quickening pace that these funds are being proposed and considered and growing interest in Solana funds.

Once the SEC acknowledges the 19b-4 distribution, the controller has 240 days to decide on the demand.

The SEC has started a time for people comment on location Solana money proposed by Coral Capital, VanEck, &nbsp, 21Shares and&nbsp, Binary. Earlier this month, Grayscale Investments even applied for an ETF, with the SEC’s confirmation, positioning it as a possible predictor for a&nbsp, broader team &nbsp, of ideas.

Franklin Templeton is among many firms to apply for ETFs recording XRP, the second largest bitcoin by market valuation. Different lenders have also just proposed money recording Litecoin, Dogecoin and Cardano.

Those software and related iniatives in the ETF area have followed the roaring success of area bitcoin ETFs, which won approval 14 months earlier after decades of SEC weight. Those funds now manage close to$ 100 billion in assets. Spot Ethereum funds have generated less interest but have still generated nearly$ 2.5 billion in net inflows in their roughly eight-month history.

The Solana token was recently trading at about$ 124, roughly flat over the past 24 hours, although less than half its all-time high set in January–swept up in the wider crypto rout of the past two months. Solana has been the favored blockchain for developers of meme coins, some of which have been particularly hard hit over this period.

Franklin Templeton first dipped its toes in the crypto space in 2019, when it started digitizing shares for a money market fund on the Stellar blockchain.

It then announced a digital asset venture fund back in 2021, and now operates Ethereum and Bitcoin ETFs.