- Franklin Templeton recently praised the Solana blockchain network on Twitter, sparking speculation that the asset management firm may launch a Solana ETF in the future.
- Franklin Templeton highlighted Solana’s rapid growth in areas like DeFi, new projects, NFTs, and memecoins in just the last quarter.
- While focused on Solana lately, Franklin Templeton says it continues monitoring other layer-1 blockchains beyond Ethereum that also have “massive potential.”
Trillion-dollar asset manager Franklin Templeton recently heaped praise on the Solana blockchain network in a post on X. This has sparked speculation among crypto enthusiasts that the firm may be considering launching a Solana exchange-traded fund (ETF) in the future.
Franklin Templeton Impressed by Solana Growth
In a January 16 Twitter post, Franklin Templeton’s official account stated that it was impressed by the numerous developments occurring within the Solana ecosystem under the leadership of Anatoly Yakovenko.
The asset management firm highlighted the rapid expansion of decentralized finance (DeFi) infrastructure, new network projects, surging non-fungible token (NFT) innovation and even the creation of memecoins built on Solana in just the last quarter alone.
Franklin Templeton also jokingly suggested changing its current laser-eye profile picture to one where Benjamin Franklin would be depicted wearing a knitted hat, referencing the new Dogwifhat memecoin created on the Solana blockchain.
Hopes for a Solana ETF
While Franklin Templeton referenced both the Ethereum network and Bitcoin’s layer 2 solutions in its posts, the primary focus appeared to be praising Solana. This led many in the crypto community to express hopes that Franklin Templeton may eventually launch a Solana ETF product.
Since the launch of spot Bitcoin ETFs on January 11, many expect other crypto assets like Ether and XRP may also become featured in U.S. spot crypto ETFs. The asset manager did not indicate developing a Solana ETF, but its effusive praise of the network will likely fuel further speculation.
Monitoring the Wider Crypto Landscape
While heaping accolades on Solana, Franklin Templeton noted it continues monitoring layer-1 blockchains beyond Ethereum. The firm believes some other networks also exhibit “massive potential,” though it declined to specify which ones.
This demonstrates that while Solana has captured the asset manager’s attention lately, Franklin Templeton aims to remain open-minded regarding crypto assets and blockchain platforms as the market matures. Its focus remains identifying the most promising networks and opportunities in this rapidly evolving landscape.
