Franklin Templeton, a trillion-dollar asset administration agency, has not too long ago expressed its help for the Solana community, resulting in hypothesis about the potential of a future Solana exchange-traded fund (ETF).
Solana (SOL) is more and more attracting consideration from main funding companies, with Franklin Templeton being the newest to specific help. Based in 1947, Franklin Templeton praised Solana’s protocol co-founder Anatoly Yakovenko’s imaginative and prescient on X on Jan. 17.
Franklin Templeton highlighted the potential of Yakovenko’s idea of a single atomic state machine in decentralized blockchains, which might scale back info asymmetry.
Franklin Templeton additionally pointed to a number of areas of progress throughout the Solana community, together with decentralized finance (defi), infrastructure networks, and nonfungible token (NFT) improvements.
The latest rise of the Dogwifhat (WIF) memecoin on Solana was playfully acknowledged by the agency, suggesting a possible change of their profile image on X to characteristic Benjamin Franklin carrying a knitted hat, referencing this new coin.
Other than its recognized prowess in defi and NFT sectors, Solana has been instrumental in developments resembling DePIN and Firedancer. DePIN goals to handle important bodily assets, discovering purposes in sectors like vitality. In the meantime, Firedancer, a third-party validator shopper, seeks to boost transaction processing and total effectivity on the Solana blockchain.
Whereas Franklin Templeton acknowledged different platforms resembling Ethereum, Bitcoin Ordinals, BTC-based layer 2s, and varied different Layer 1 networks, its digital belongings workforce appeared significantly inclined in direction of Solana.
The main target Franklin Templeton gave to Solana led quite a few cryptocurrency lovers on X to voice their anticipation that the asset administration agency would possibly contemplate releasing a Solana ETF sooner or later.
In the meantime, a submit from Bitcoin proponent “Lex” instructed the potential of a Solana-based ETF being launched shortly.
Following the launch of spot Bitcoin ETFs on Jan. 11, there’s an industry-wide expectation for different crypto belongings, together with Ether and XRP, to characteristic in United States spot crypto ETFs.
Analysts predict that the U.S. Securities and Alternate Fee will make a ultimate resolution on a number of pending spot Ether ETFs round Might.
Whereas Franklin Templeton has not filed for a spot Ether ETF, it has expressed enthusiasm for Ethereum and its ecosystem, acknowledging latest challenges however foreseeing a vibrant future.
The agency is especially curious about developments like Protodank Sharding by way of EIP-4844 and restaking, which contain including cheaper knowledge to blocks and recycling staked Ether for charges and rewards, respectively.
The agency can be keeping an eye on different layer-1 blockchains, which they consider have vital potential, although particular networks weren’t talked about.