Franklin Templeton has launched a new Solana exchange-traded fund featuring staking rewards, intensifying competition in the U.S. crypto market amid a more favorable regulatory environment.
The Franklin Solana ETF, trading under the ticker SOEZ on NYSE Arca, incorporates mechanisms to generate additional income for investors through staking. This makes it an attractive option for those seeking returns beyond simple asset exposure.
This launch comes as the U.S. Securities and Exchange Commission (SEC) has adopted a more open stance toward digital assets. The regulatory shift, which began roughly a year ago, has facilitated the approval and trading of numerous cryptocurrency-linked ETFs.
The company statement confirmed the fund aims to attract investors seeking additional income while maintaining exposure to the SOL token.
Franklin Templeton, a major U.S. asset manager, did not lead the race to offer Solana ETFs. Several firms, including Canary Capital, Bitwise, Grayscale, Fidelity, VanEck, and REX Osprey, had already introduced similar products.
REX Osprey notably launched the first SOL-based fund with staking rewards in July, setting an important precedent. This intensified the competitive pressure among Wall Street providers.
The U.S. has experienced an explosion of crypto-related ETFs in recent months. These new products track a range of digital assets from Chainlink to Dogecoin, in addition to Solana’s SOL token.
The SEC’s shift in policy, occurring since the start of the current presidential administration’s second term, has been crucial. The agency has worked to provide greater clarity for digital assets and streamline listing standards for ETFs.
Roger Bayston, Franklin Templeton’s Head of Digital Assets, stated that “Solana is consolidating as a core layer within the digital economy.” He added that the network’s “speed and efficiency support operations that encompass everything from tokenized assets to next-generation financial applications.”
Anthony Scaramucci, founder of SkyBridge Capital, also lauded Solana’s progress. He told CNBC that the network “will be among the biggest winners in the crypto ecosystem.” Scaramucci, who is publishing a book titled “Solana Rising,” believes multiple networks can coexist and grow.
Solana’s increasing role as infrastructure for tokenized assets has attracted significant institutional interest. Adoption is accelerating across both retail and complex financial development sectors.
The inclusion of staking rewards in these ETFs offers a compelling advantage over traditional investment instruments. It provides potential for additional yield without requiring investors to manage self-custody solutions.
Franklin Templeton’s move signals that large asset managers continue to invest in the crypto ecosystem’s expansion despite market volatility. Industry reports predict rising competition for ETFs tracking alternative blockchains as investors diversify beyond Bitcoin and Ethereum.