Franklin Solana ETF, trading under the ticker SOEZ, is a passive exchange-traded fund providing exposure to the Solana cryptocurrency. Structured as a Delaware grantor trust sponsored by Franklin Templeton, the fund holds Solana directly to provide shareholders with fractional ownership of the underlying asset. This structure enables investors to trade Solana price movements through traditional brokerage accounts, removing the need to manage digital wallets or private keys. The fund stakes up to 100% of its Solana holdings to generate rewards, which the fund distributes to shareholders as monthly cash payments. Franklin Templeton generates revenue through a single Sponsor’s Fee of 0.19% of NAV, accrued daily. This fee covers operating costs, including custody, administration, and listing fees. Revenue growth depends on Solana price appreciation and total assets under management. To incentivize early adoption, Franklin Templeton waived the Sponsor's Fee for the first $5B in assets through May 31, 2026. The fund relies on Coinbase for custody, prime brokerage, and staking services, while BNY Mellon provides administrative and transfer agency services. Authorized participants, including Jane Street and J.P. Morgan, facilitate the creation and redemption of shares to ensure the market price remains aligned with NAV.