<img src="https://crypto.news/app/uploads/2023/12/crypto-news-Solana-option08.webp” />
Franklin Templeton, a trillion-dollar asset management firm, recently expressed support for the Solana network, sparking speculation about the possibility of a future Solana exchange-traded fund (ETF).
Solana (SOL) is attracting increasing attention from major investment firms, with Franklin Templeton being the latest to express his support. Founded in 1947, Franklin Templeton praised Solana Protocol co-founder Anatoly Yakovenko's vision for X on January 17.
Franklin Templeton highlighted the potential of Yakovenko's concept of a single atomic state machine on decentralized blockchains, which could reduce information asymmetry.
Franklin Templeton also pointed out several areas of growth within the Solana network, including decentralized finance (defi), infrastructure networks, and non-fungible token (nft) innovations.
The company jokingly acknowledged the recent rise of the Dogwifhat (WIF) memecoin on Solana, suggesting a possible change to its X profile photo to show Benjamin Franklin wearing a knitted hat, referencing this new coin.
In addition to his well-known prowess in the defi and nft sectors, Solana has been instrumental in developments such as DePIN and Firedancer. DePIN aims to manage vital physical resources, finding applications in sectors such as energy. Meanwhile, Firedancer, a third-party validator client, seeks to improve transaction processing and overall efficiency on the Solana blockchain.
While Franklin Templeton admitted On other platforms like ethereum, bitcoin Ordinals, btc-based Layer 2, and several other Layer 1 networks, their digital asset team seemed particularly inclined towards Solana.
Franklin Templeton's approach to Solana led numerous cryptocurrency enthusiasts on X to voice his anticipation that the asset management firm might consider launching a Solana ETF in the future.
Meanwhile, a post by bitcoin advocate “Lex” suggested the possibility of a Solana-based ETF being introduced soon.
Following the launch of bitcoin spot ETFs on January 11, there is industry-wide expectation that other crypto assets, including Ether and XRP, will appear in US spot crypto ETFs.
Analysts predict that the US Securities and Exchange Commission will make a final decision on several pending Ether spot ETFs around May.
While Franklin Templeton has not filed for an Ether ETF, he has expressed enthusiasm for ethereum and its ecosystem, acknowledging recent challenges but foreseeing a bright future.
The company is particularly interested in developments like Protodank Sharding via EIP-4844 and remake, which involve adding cheaper data to blocks and recycling staked Ether for fees and rewards, respectively.
The signature is also keeping an eye on other Layer 1 blockchains, which they believe have significant potential, although no specific networks were mentioned.
