With the crypto market looking to Solana as the next crypto-based ETF, $1.5 trillion asset manager Franklin Templeton has recently praised SOL’s impact and potential. In a post to X (formerly Twitter), the firm said the token followed Bitcoin and Ethereum as having the biggest potential in the crypto market.
The statement informs the firm’s expectation that Solana could be next for an ETF in the US. Franklin Templeton has issued both a Spot Bitcoin and Spot Ethereum ETF in 2024. Moreover, it is expected to be at the forefront of whatever crypto-based exchange-traded products arise.
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Franklin Templeton Praises Solana, Hints at Incoming SOL ETF
2024 has solidified the position of Bitcoin and Ethereum in crypto. The two assets have both featured heavily, driving institutional investment interest and participation. Yet, with their ETFs launching just six months apart, the market is eager for which crypto could be next.
Many are pointing to Solana, including $1.5 trillion asset manager Franklin Templeton, who has praised SOL’s impact and potential. In a recent post, it discussed the asset in glowing terms. Moreover, it solidified its place among the top three assets on the market.
“Beside Bitcoin and Ethereum, there are other exciting and major developments that we believe will drive the crypto space forward,” the firm said. “Solana has shown major adoption and continues to mature, overcoming technological growing pains and highlighting the potential of high-throughput, monolithic architecture.”
Also Read: Asset Manager Franklin Templeton files for Spot Ethereum ETF
The asset manager isn’t alone in their thinking regarding Solana. Earlier this year, GSR Markets released a report highlighting Solana’s place in “Cryptos’ Big Three.” They also state that SOL leads all other tokens in decentralization and demand.
Additionally, Bloomberg’s Eric Balchunas noted that Solana was likely to be next in line for an ETF.” A well-respected ETF insider, Balchuans believes SOL will be the third in what could be many. “Its probably never going to end,” Balchunas said. “The dam has broken.”