TLDR
Franklin Templetons Franklin Solana ETF (SOEZ) is the SOL fund that began staking, with the fund planning to stake up to 100% of its holdings to earn rewards per a recent launch announcement (details).
- SOEZ is listed on NYSE Arca and explicitly incorporates staking into its structure (fund announcement).
- Bitwises Solana Staking ETF (BSOL) already uses staking and saw $17.18 million in inflows on 2 Dec (flow update).
- Not all issuers are proceeding with staking: CoinShares withdrew its U.S. staking ETF filing (withdrawal notice).
Deep Dive
1. Franklin SOEZ
Franklin Templeton launched SOEZ with a staking model, stating the fund may stake up to 100% of its SOL holdings. That means investors gain exposure to Solana (SOL) price plus staking rewards distributed as new SOL, valued using a CF Benchmarks reference rate (announcement).
Staking seeks yield alongside price exposure, potentially boosting total return while contributing to network security.
2. Other Staking ETFs
The Solana ETF landscape includes products that stake and those that do not. Bitwises BSOL is branded as a staking ETF and attracted $17.18 million in net inflows on 2 Dec, showing investor interest in yield?enhanced structures even amid mixed broader flows (flow update). In contrast, 21Shares TSOL recently saw sizable outflows, highlighting that issuer strategies differ and investor demand can shift day to day (market recap).
If staking yield is a priority, look for ETFs that explicitly stake. Flows can be volatile, so monitor net inflows/outflows to gauge sentiment.
3. Mixed Regulatory Momentum
The path isnt uniform across issuers. CoinShares withdrew its U.S. staking ETF filing, citing that the planned transaction did not proceed, underscoring regulatory and operational hurdles for staking?enabled funds (withdrawal notice). At the same time, new entrants like SOEZ point to ongoing institutional demand for SOL exposure via regulated wrappers (fund announcement).
Expect a split landscape where some products embrace staking immediately while others pause or adjust based on regulatory clarity and operational readiness.
Conclusion
Franklin Templetons SOEZ is the SOL ETF that began staking, aiming to stake up to 100% of holdings to add yield to price exposure (announcement). The broader Solana ETF set is mixed, with staking funds like BSOL drawing inflows even as other products see outflows (flow update). For investors, the key distinction is whether the ETF explicitly stakes, as that changes both expected returns and operational considerations.
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