Key Insights
- Franklin Templeton’s Solana ETF received final approval.
- Institutional interest in Solana keeps growing even as ETF flows show short-term volatility.
- Companies like Forward Industries and Upexi are expanding their Solana strategies through staking and treasury programs.
Franklin Templeton has secured the final regulatory sign-off needed to launch its Solana ETF, marking a fast entry into a segment that continues to attract institutional inflows despite recent volatility. NYSE Arca confirmed the listing approval in a new SEC filing, clearing the way for the fund to begin trading under the ticker SOEZ. The passive vehicle will track the CF Benchmarks Solana Index and will enter a market already hosting several SOL-focused products.
The approval follows the firm’s submission of its last procedural documents last week. Such filings typically indicate that trading can begin within days. Franklin Templeton widened its footprint in digital-asset markets in recent months, including the rollout of its XRP ETF. Moreover, its crypto index ETF recently expanded its asset mix after Cboe updated listing standards earlier in the year.
Solana ETF Activity Shifts as Flows Rebalance
Market data shows shifting investor behaviour across Solana ETFs. The segment recorded a notable $13.55 million net outflow yesterday, led by a $32.54 million withdrawal from the 21Shares TSOL product.
Franklin Templeton’s Head of Digital Assets, Roger Bayston, noted that investors are increasingly seeking exposure to networks with practical applications. Institutional engagement with Solana is continuing to grow, not just in ETFs. Forward Industries entered a new partnership with Sanctum to make fwd SOL, a liquid staking token designed to create native rewards while supporting other forms of DeFi strategy.
The company will convert 1.7 M SOL into the staking asset and use it in lending and liquidity platforms to optimize returns. Forward Industries has previously established a large Solana treasury after buying $1.6 billion worth of SOL, indicating a longer-term commitment to the network. Meanwhile, Upexi raised a private placement with some $10 million toward furthering its own Solana-based strategy.
Analysts Track Solana’s Market Strength
Solana continued to make gains over the last 24 hours, trading at about $142.57 after a 7% daily increase. The market cap reached $79.32 billion, and trading volume exceeded $6.8 billion.
Crypto market analyst Ali Charts highlights an extended ascending trend line that continues to guide Solana’s broader structure. The line has been hit since early 2023 and has triggered multiple rebounds from significant lows, including recoveries from $16, $12, and most recently from the $120 range. Additionally, analysts stress that as long as Solana stays above the rising support zone, currently pegged at the $120-$130 band, the bullish structure remains unbroken.
