On February 21, Franklin Templeton filed for an exchange-traded fund (ETF) to track the spot price of Solana, indicating the increasing interest among asset managers in profiting from cryptocurrencies beyond bitcoin.

As regulatory conditions become more favorable and with a crypto-friendly president assuming office, investors are delving deeper into digital assets, seeking the next breakout token after Bitcoin's impressive surge. Investment managers are launching new products to leverage this growing interest.

In January, Grayscale Investments associated with Dogecoin, describing it as a token that has evolved "from a memecoin to a tool for global financial inclusion and a viable means of payment."

With Solana having surged over 60% in the past year, Franklin's ETF, following this cryptocurrency, will be listed on the Cboe BZX Exchange. Franklin has appointed Coinbase as the custodian of its Solana holdings and chose not to provide additional comments.