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Franklin Templeton Proposes Solana ETF Amid Institutional Interest Surge

Solana (SOL) remains stable above $140 despite a $37 million hack on South Korea's Upbit exchange.

Institutional Interest in Solana Grows

  • Franklin Templeton filed with the U.S. SEC to launch a Solana ETF, increasing institutional interest.
  • The ETF offers regulated exposure to Solana without direct token ownership.
  • ETFs have previously influenced crypto prices; unclear if SOL will follow Bitcoin's pattern or show gradual growth.

Solana SOL SOLUSD

Upbit Hack Impact

  • Unauthorized outflow of about $37 million involving SOL from Upbit confirmed.
  • Exchange halted transactions and pledged full reimbursement to affected users.
  • Despite the breach, SOL maintained its price level, with traders defending key support zones.
  • Upbit froze ₩12 billion worth of stolen LAYER tokens and is tracing other assets.

Technical Analysis

  • Resistance identified between $142–$145, with potential breakout targets at $165, $188, and $220–$240.
  • Failure to maintain $143 could lead to a decline toward $130–$127.

Solana's stability amid market challenges highlights growing investor confidence and institutional involvement.