Catenaa, Saturday, March 01, 2025-Investment giant Franklin Templeton has filed with the US Securities and Exchange Commission for a Solana exchange-traded fund (ETF) that includes staking, a move that could signal a shift in regulatory stance toward crypto-backed financial products.
The filing states that the fund may engage in staking activities, allowing it to earn Solana token rewards, which would be treated as income. Shares of the ETF would be listed on the Cboe BZX Exchange, with Coinbase Custody acting as custodian.
Multiple firms are now pursuing Solana ETFs amid a more crypto-friendly regulatory environment. Previously, the SEC under Gary Gensler was skeptical of crypto products, but its approval of spot Bitcoin and Ethereum ETFs has fueled optimism for broader adoption. Bloomberg ETF analyst James Seyffart believes staking will eventually be allowed in all proof-of-stake ETFs.
Meanwhile, lawmakers, including Sens. Cynthia Lummis, Kirsten Gillibrand, and Ron Wyden, have urged the SEC to clarify its position on staking. Lummis, who leads the Senate’s digital assets panel, is set to hold a hearing on crypto legislation next week.
