Key Highlights
- Franklin Templeton launches SOEZ, the 7th spot Solana ETF on NYSE Arca, tracking CF Benchmarks Solana Index with 0.19% fees and staking eligibility
- Debut trading sees $2.4M in net assets and $0.12M volume for SOEZ, amid $32M category outflows—yet analysts eye $200 SOL by December end on rebound momentum
- Institutional altcoin wave: SOEZ joins XRPZ, boosting Franklin’s crypto suite; SOL +1% to $143, with ETF inflows resuming via Bitwise’s $5.6M
Franklin Templeton, the $1.69 trillion asset management giant, officially launched its spot Solana ETF under the ticker SOEZ on NYSE Arca on December 3, 2025, marking a meme-worthy milestone in institutional crypto adoption. With a cheeky nod to Solana’s community vibe—”this one was so easy”—the firm celebrated the ticker’s playful appeal, positioning SOEZ as an accessible gateway for Wall Street to the high-speed blockchain ecosystem. As the seventh U.S.-listed Solana ETF, SOEZ arrives amid a competitive field, but its backing by a TradFi heavyweight could supercharge inflows and propel SOL toward $200 this month.
The SOEZ Launch: Structure, Fees, and Staking Edge
SOEZ operates as a staking-eligible grantor trust, holding physical SOL tokens custodied by Coinbase and tracking the CME CF Solana-Dollar Reference Rate (New York Variant) for precise valuation. At a competitive 0.19% expense ratio—with fees waived on the first $5 billion in assets until May 31, 2026—it’s designed to attract cost-conscious investors. Unlike futures-based predecessors, SOEZ enables direct exposure to Solana’s staking yields (currently ~7%), potentially generating passive income while capturing price upside.
This launch expands Franklin’s crypto portfolio, now spanning Bitcoin (EZBC), Ethereum (EZET), XRP (XRPZ), and altcoins like Dogecoin and Chainlink via its EZPZ index fund. David Mann, Head of ETF Product at Franklin, emphasized SOEZ’s role in delivering “transparent exposure to Solana’s significant adoption” through a seamless ETP structure. Roger Bayston, Head of Digital Assets, highlighted Solana’s “real-world utility” in payments and smart contracts, underscoring why institutions are piling in.
First-Day Inflows: A Mixed Bag in a Volatile Market
SOEZ’s debut was modest: $2.4 million in net assets and $0.12 million in trading volume, reflecting cautious entry amid broader market jitters. The bigger picture? U.S. Solana ETFs collectively posted $32.19 million in net outflows on December 4, driven by a $41.79 million redemption from 21Shares’ TSOL—signaling profit-taking after SOL’s recent rally from $125 lows. Yet, not all doom: Bitwise’s BSOL led with $5.57 million inflows, followed by Fidelity’s FSOL ($1.7M) and Grayscale’s GSOL ($1.6M), showing selective institutional appetite.
Cumulative Solana ETF assets now exceed $933 million, up from $587 million in November, with total inflows hitting $1.2 billion YTD—outpacing Bitcoin and Ethereum counterparts in altcoin diversification plays. Despite outflows, analysts like those at Farside Investors see this as temporary rotation, with SOEZ’s low fees poised to capture rebound flows.
| Solana ETF Performance (Dec 3-4, 2025) | Inflows/Outflows | AUM (Pre-Launch Total) |
| Franklin Templeton SOEZ | +$2.4M | N/A (New) |
| Bitwise BSOL | +$5.57M | ~$250M |
| 21Shares TSOL | -$41.79M | ~$300M |
| Fidelity FSOL | +$1.7M | ~$150M |
| Category Total | -$32.19M | $933M+ |
Price Impact: SOL’s Rebound and Short-Term Catalysts
SOL traded flat at ~$140 on launch day but surged 12% to $143 by December 4, buoyed by broader market recovery and ETF speculation. Binance data revealed unusual liquidity: $2.12 billion USDC inflows versus $1.11 billion SOL outflows, creating a supply crunch around $120 support. On-chain metrics show whale accumulation resuming, with validator nodes up 57% YTD and RWA tokenization at $827 million—95% of tokenized stock volume on Solana.
The ETF’s timing aligns with Solana’s roadmap: Firedancer and Alpenglow upgrades targeting 1M TPS and sub-150ms finality by 2026. JPMorgan forecasts $6 billion in Solana ETF inflows by mid-2026, creating a “self-reinforcing” demand loop. Short-term, resistance at $145 could yield to $155 on positive macro (e.g., Fed cuts), per Daan Crypto Trades.
Why SOL Could Hit $200 This Month: Analyst Targets and Bull Case
Analysts are bullish: VanEck and Standard Chartered eye $200-$250 by year-end, with Pantera’s Cosmo Jiang calling for $1,000 on ETF-driven adoption. Doo Prime projects a 2025 high of $336 (avg. $303), while CoinCodex sees $154 by January 2026. For December, a $200 target (40% upside from $143) hinges on:
- Inflow Reversal: Resuming positive flows like November’s $100M could add $50M+ weekly, per Bernstein.
- Ecosystem Tailwinds: JUP ICO, Drift v3, and Solana Mobile’s SKR token airdrop (Jan 2026) boost utility.
- Macro Alignment: Dovish Fed (87% cut odds) and tokenized RWAs ($24B milestone) favor risk assets.
Longer-term, 2026 forecasts range $250-$400 (CoinCodex/Benzinga), with 10x potential by 2030 on DeFi/NFT growth. Risks? Macro volatility and competition from Ethereum L2s could cap gains, but SOEZ’s launch tips the scales toward optimism.
In essence, SOEZ isn’t just another ETF; it’s a bridge accelerating Solana’s maturation. With inflows stabilizing and catalysts stacking, $200 feels within reach this month. For SOL holders, this is the dip before the flip.
References:
- The Market Periodical, “SOL Price Rally to $175 Ahead As Solana ETFs Inflows Resume Again,” themarketperiodical.com, 4 Dec 2025 themarketperiodical.com
- AInvest, “Franklin Templeton’s Solana ETF (SOEZ) and the Institutional Catalyst,” ainvest.com, 3 Dec 2025 ainvest.com
