A Major Step for Solana-ETF

The filing follows Cboe BZX Exchange Inc.’s submission of the 19b-4 form for the “Fidelity Solana Fund,” alongside CSC Delaware Trust Company’s registration of a new statutory trust under the same name. This move comes as Solana continues gaining investor interest, positioning itself as a leading altcoin candidate for ETF approvals, following the SEC’s recent acceptance of spot Bitcoin and Ethereum ETFs.

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Market Impact Amid Tariff Turmoil

Despite the progress, the market reacted negatively due to President Donald Trump‘s sweeping reciprocal tariffs. On Thursday, Solana‘s price dropped sharply by 15%, briefly falling below $113 before recovering to around $115.42 as of 4:40 p.m. EST. In comparison, Bitcoin and Ethereum faced more moderate declines of over 4%.

As the regulatory landscape shifts, analysts are watching whether the approval of Fidelity’s Solana-ETF can help restore investor confidence and stabilize digital asset markets amid ongoing tariff-related uncertainty.

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Franklin Templeton Becomes the Largest Asset Manager to File for a Solana ETF

On March 12, Cboe BZX Exchange submitted a 19b-4 filing to the U.S. Securities and Exchange Commission (SEC) on behalf of Franklin Templeton for the listing and trading of the Franklin Solana ETF. Managing over $1.5 trillion in assets, Franklin Templeton is now the largest asset manager to apply for a Solana-based exchange-traded fund (ETF).

The 19b-4 filing marks the second step in the SEC’s approval process for a crypto ETF. Once acknowledged by the SEC, the filing will be published in the Federal Register, initiating the regulatory review process.

This application follows Franklin Templeton’s spot XRP ETF filing just a day earlier. With an increase in crypto-friendly policies in the U.S., ETF applications for digital assets beyond Bitcoin and Ethereum have seen significant growth.

According to Bloomberg ETF analysts, as altcoin ETF applications grow, Litecoin ETFs have the highest approval odds at 90%, followed by Dogecoin ETFs at 75%, Solana ETFs at 70%, and XRP ETFs at 65%.

Following this news, Solana (SOL) price surged 2.5% in the past 24 hours, reaching $125.84.

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