Aggregated Solana CME futures trading volume came in at $8.1 billion in July, while open interest average for the month topped $400 million.
The fund is the first and only crypto ETF so far to offer staking rewards to U.S. investors, according to an announcement on Thursday.
The Solana ETFs introduce a notable innovation in the crypto ETF landscape through integrated staking mechanisms.
Global crypto investment products added another $3.7 billion to a net inflow streak that has now reached 13 consecutive weeks.
U.S. spot Bitcoin ETFs notched up another $1 billion worth of net inflows over the past two days to approach $50 billion to date.
Following the SEC's decision to put a pause on a Grayscale ETF, a spokesperson for the company says it "remains committed" to trying to list.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The new ETF from REX Shares and Osprey Funds is the first U.S.-listed crypto ETF to combine token exposure and staking rewards.
Altcoin treasuries can serve as a provisional means of asset exposure as formal approvals for ETFs and staking have yet to arrive.
The SEC approved on an "accelerated basis" an exchange-traded fund that looks to convert the Grayscale Digital Large Cap Fund LLC.
A Solana ETF that will track the price and deliver staking yields to holders will begin trading on Wednesday, according REX Shares.
REX Shares said its staking Solana ETF, the first of its kind, would be "coming soon" in an X post on Friday.
Investment management company Invesco and crypto-focused firm Galaxy Digital have joined the race for a Solana exchange-traded fund.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Meanwhile, K33 launched a new share issuance plan to raise funds toward its 1,000 BTC treasury accumulation target.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Meanwhile, U.S. regulatory momentum is building, with stablecoin legislation advancing and a market structure bill in the works.
Solana (SOL) has surged 6.6% over the past week, raising hopes among holders that the digital asset may be on the cusp of a significant rally – one that could potentially propel it to new all-time highs (ATH). A combination of strengthening fundamentals and bullish technical signals supports this optimistic outlook. Solana Primed For A Spectacular Summer? According to a recent CryptoQuant Quicktake post by contributor burakkesmeci, SOL is currently undergoing a cooling phase on both the spot and futures Bubble Maps. The analyst shared the following chart to highlight this cooling period. For the uninitiated, a bubble map visualizes volume data across exchanges, with each bubble representing trading activity for a specific pair or platform. The size of the bubble indicates the total volume, while the color shows the intensity or change in that volume – such as cooling (green), neutral (gray), or overheating (red). Related Reading: Solana Key Indicator Flashes Buy Signal On Daily Chart – Rally Ahead? At first glance, lower trading volume might seem like fading momentum. However, the CryptoQuant analyst suggests this deceleration could be a strategic accumulation phase, particularly as a potential catalyst looms on the horizon. Many in the crypto community are expecting the US Securities and Exchange Commission (SEC) to approve the first Solana exchange-traded fund (ETF) in the coming weeks. In an X post published today, Eric Balchunas, Senior ETF Analyst at Bloomberg, said Solana could lead a “potential altcoin ETF summer.” Meanwhile, predictions platform Polymarket currently places a 91% probability on a Solana ETF being approved in 2025 – the highest odds recorded since January of this year. Most speculators expect a SOL ETF to go live by July 2025. From a technical standpoint, things are also looking encouraging. In a recent X post, crypto analyst Ali Martinez remarked that if SOL breaks above the $200 mark, it could kickstart a 5x to 10x bull run. Martinez shared the following SOL weekly chart, which shows the digital asset forming a bullish Cup and Handle pattern. While the “cup” portion has already been completed, the emerging “handle” suggests the potential for significant price appreciation – possibly pushing SOL beyond $2,000. SOL Showing Promise But Take Caution Despite widespread optimism, some indicators urge caution. On-chain data recently revealed a large movement of dormant SOL coins, which has raised concerns about increased selling pressure in the near term. Related Reading: Solana Horizontal Support Under Pressure – Bearish Target At $142 That said, a considerable number of analysts believe that SOL could surpass its current ATH of $293 later this year. At press time, SOL trades at $167.30, up 3.5% in the past 24 hours. Featured image from Unsplash, charts from CryptoQuant, X, and TradingView.com
Though it's still uncertain when spot Solana ETFs would be approved, Bloomberg senior ETF analyst Eric Balchunas estimated they could be approved within two to four months.
The funds will operate as a “regular C corporation” for U.S. federal income tax purposes, which treats staking distributions as dividend income.
Year-to-date inflows have reached $7.5 billion — fully recovering from the February to March outflows amid the Trump tariff-fueled slump.
Never miss a beat with The Block's daily digest of the most influential events happening across the digital asset ecosystem.
Ark also bought $7.6 million of 3IQ's Solana staking ETF and sold shares in Jack Dorsey's Block as it rebalanced its fund weightings.
The SEC pushed back its deadline for whether to approve Nasdaq's proposal to allow in-kind redemptions for the IBIT ETF.
Crypto investment products added $882 million worth of net inflows for the fourth week in a row, according to asset manager CoinShares.
Digital assets are becoming an emerging safe haven amid concerns over the impact of U.S. tariffs, Head of Research James Butterfill said.
XRP remains one of the most popular coins in the market, with a cult-like community that has supported it for years. With the bullish sentiment surrounding it, the altcoin has performed quite well and continues to inspire support. The most recent developments for XRP have been the ETF filings that suggest it might be the next altcoin to get an SEC nod after Ethereum. The number of filings also puts it well ahead of investor favorites such as Solana and Dogecoin in the running for the next ETF approval. XRP ETF Filings Climb To 10 XRP ETF filings have been coming out of the market over the past year, especially with the approvals of Ethereum Spot ETFs. These ETFs are expected to give institutional investors an official vehicle to get proper exposure to the market. As Bitcoin and Ethereum ETFs have been done and dusted, issuers have looked to other large cap altcoins to bring into the market. Related Reading: Analyst Who Called Dogecoin Price Rally In 2024 Predicts 300% Rally In April The next favorites on the list have been XRP, in addition to heavy hitters such as Solana, Dogecoin, and Litecoin. However, in the race, XRP has clearly differentiated itself in terms of interest, boasting twice as many filings as any other altcoin. According to data from Kaito Research, there are currently 10 XRP ETF filings pending approval or rejection from the SEC. In contrast, there are five Solana ETF filings, 3 Litecoin filing, and 3 Dogecoin filings. This shows clearly that interest in XRP as the next altcoin to gain ETF approval is the highest. Additionally, the SEC has acknowledged the XRP ETF filings from industry leaders such as Grayscale. There are also filings from ProShares, Franklin Templeton, Bitwise, 21Shares, among others. However, BlackRock has not made a move to file for an XRP ETF despite leading the Bitcoin and Ethereum ETF campaigns. Nevertheless, the filings for XRP ETFs remain a big deal for the altcoinm and their approval could trigger another wave of price hikes. ETFs And The SEC Battle Conclusion For many, the major hindrance to an SEC approval of an XRP ETF was the ongoing battle between the crypto firm and the regulator, which began in 2020. However, in March 2025, Ripple CEO Brad Garlinghouse announced that the case was officially over. Related Reading: Is The XRP Price Mirroring Bitcoin’s Macro Action? Analyst Maps Out How It Could Get To $71 With this development, expectations that the regulator will look favorably upon an XRP ETF are high. If the ETFs are approved, even with a fraction of the Bitcoin ETF volumes, the XRP price is expected to explode in response, with some analysts predicting that the altcoin’s price could rise to the double-digits. Featured image from Dall.E, chart from TradingView.com
May 22 is the next important date to watch as the SEC must respond to Grayscale's spot XRP ETF filing by then.
Bloomberg Senior ETF Analyst Eric Balchunas shared that four asset managers are set to launch spot Solana ETFs in Canada on Wednesday.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.