Yesterday, December 3, the Solana Spot Exchange Traded Fund (ETF) (SOL) managed by Franklin Templeton, the financial giant that manages $1.6 trillion in assets, debuted. The debut was discreet, since the ETF did not register net capital inflows or outflows on its first day.
In any case, it is worth clarifying that this does not represent any worrying symptom (unless it continues like this as the days go by). On ETF launches It is common to see days with zero or minimal flowsespecially when the market is still gauging interest in the new product.
As can be seen in the image below, this lack of capital flow was also reflected in the ETF’s share price. The one-hour candlestick chart shows that the ETF remained “dead” for most of the day, that is, there were no people interested in buying and selling this financial instrument.
The Franklin Solana Trust is listed on the New York Stock Exchange under the SOEZ ticker and has a peculiarity: it includes staking rewards.
Through this mechanism, the ETF stakes the SOL it owns and receives the corresponding rewards, which are then register as income within the investment vehicle itself.
With this launch, there are now seven solana spot ETFs available on the market. Since its debut, on October 28, These financial products raised more than 618 million dollars:
It should be noted that solana ETF joins Franklin Templeton’s portfolio of digital asset-based products. Currently, the financial giant offers the Franklin XRP ETF (XRPZ) on the market, along with the Franklin Bitcoin ETF (EZBC) and the Franklin Ethereum ETF (EZET).
In addition, it has the Franklin Templeton Index ETF (EZPZ), a combined fund that includes bitcoin (BTC), ether (ETH), XRP, solana (SOL), dogecoin (DOGE), cardano (ADA), stellar (XLM) and chainlink (LINK), as reported by CriptoNoticias.