Solana (SOL) Price Jumps 17% as Franklin Templeton ETF Gets Approval for Trading

TLDR

• NYSE Arca approved Franklin Templeton’s Solana ETF for trading under ticker SOEZ, making it the seventh SOL fund available to US investors
• Binance saw $2.12 billion in USDC inflows while $1.11 billion worth of SOL left the exchange, creating a supply crunch around the $120 support level
• SOL futures trading volume dropped 3% while Bitcoin and Ethereum futures jumped 43% and 24%, showing weak trader participation
• Large clusters of buyers purchased 17.8 million SOL at $142 and 16 million SOL at $135, forming potential resistance zones above current prices
• Solana ETFs experienced their largest daily outflow of $13.55 million this week, led by $32.54 million withdrawn from 21Shares TSOL fund

Franklin Templeton received approval from NYSE Arca to list its Solana ETF for trading. The SEC filing confirmed the approval, which represents the final step before the fund begins operating in the market.

The ETF will trade under the ticker SOEZ on NYSE Arca. The fund will track the CF Benchmarks Solana Index as a passive investment vehicle.

This makes Franklin Templeton’s product the seventh Solana ETF available to US investors. The approval came shortly after the firm launched its XRP ETF on the same exchange.

Roger Bayston, Franklin’s Head of Digital Assets, said investors are seeking exposure to networks showing real-world adoption at scale. He pointed to strong community support and functional utility across payments and smart contracts as key factors.

The ETF launch comes as Solana experiences unusual liquidity patterns on major exchanges. Last week, Binance recorded $2.12 billion in USDC inflows while SOL outflows exceeded $1.11 billion.

This divergence reduced sell pressure on exchanges while building potential buy-side liquidity. USDT saw $450 million in outflows during the same period, suggesting a shift toward USDC-driven capital deployment.

SOL Trading Near Key Support Zones

The price has been stabilizing above $120, which now serves as a major support level. Glassnode data shows large buyer clusters at higher prices that could act as resistance.

About 17.8 million SOL was purchased at a $142 cost basis. Another 16 million SOL was bought at $135.

These clusters function like onchain support and resistance zones. When large positions sit above the current price, trapped holders may sell during any recovery rally.

SOL needs to reclaim $135 and $142 for these buyer groups to transition from potential sellers to active supporters. Until then, these levels represent overhead supply.

Futures Activity Remains Quiet

SOL futures trading volume fell 3% while Bitcoin and Ethereum saw increases of 43% and 24%. This gap suggests SOL traders have stayed on the sidelines despite improving spot market structure.

Relative unrealized profit dropped to October 2023 levels, when SOL traded near $20. This profitability reset indicates speculative excess has been eliminated from the market.

Net Realized Profit/Loss showed heavy negative readings in November. These patterns mirror the deep realized losses seen during the February-April 2025 bottom formation.

The Solana ETF market saw its largest daily net outflow of $13.55 million this week. The 21Shares TSOL fund led the reduction with $32.54 million in withdrawals.

Forward Industries announced a partnership with Sanctum to issue fwdSOL, a liquid staking token. The company will convert 1.7 million SOL into fwdSOL to use as collateral on DeFi platforms.

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