Franklin Templeton, a trillion-dollar asset administration agency, has just lately expressed its assist for the Solana community, resulting in hypothesis about the potential for 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 assist. 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 may cut back info asymmetry.
Franklin Templeton additionally pointed to a number of areas of progress inside 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 function Benjamin Franklin carrying a knitted hat, referencing this new coin.
Other than its identified prowess in defi and NFT sectors, Solana has been instrumental in developments corresponding to DePIN and Firedancer. DePIN goals to handle very important bodily sources, discovering purposes in sectors like power. 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 corresponding to Ethereum, Bitcoin Ordinals, BTC-based layer 2s, and varied different Layer 1 networks, its digital belongings workforce appeared significantly inclined in the direction of Solana.
The main target Franklin Templeton gave to Solana led quite a few cryptocurrency fans on X to voice their anticipation that the asset administration agency may take into account releasing a Solana ETF sooner or later.
In the meantime, a submit from Bitcoin proponent “Lex” steered the potential for 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 function in United States spot crypto ETFs.
Analysts predict that the U.S. Securities and Change Fee will make a ultimate resolution on a number of pending spot Ether ETFs round Could.
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 brilliant future.
The agency is especially excited by developments like Protodank Sharding through EIP-4844 and restaking, which contain including cheaper information 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 imagine have important potential, although particular networks weren’t talked about.
