Latest news with #SolanaETF
Yahoo
4 days ago
- Business
- Yahoo
SEC Punts Decision Deadlines for Solana ETFs by Two Months
The U.S. Securities and Exchange Commission has pushed back its decision on Cboe BZX's proposals for Solana exchange-traded funds from Bitwise and 21Shares, invoking its maximum 60-day extension authority to set a final deadline for approval or denial by October 16. Two others from Canary Funds and Marinade Finance have also been delayed. Invest in Gold American Hartford Gold: #1 Precious Metals Dealer in the Nation Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase Thor Metals Group: Best Overall Gold IRA Issued Thursday under delegated authority by the SEC's Division of Trading and Markets, the orders use identical language for both filings. The orders cite the need for 'sufficient time to consider' proposed rule changes that would list Commodity-Based Trust Shares for each fund under BZX Rule 14.11(e)(4). That rule sets eligibility, disclosure, and surveillance requirements for exchange-traded products backed by physical commodities. Both proposals were first filed on January 28 and later published in the Federal Register, opening the proposals for public comments and triggering the standard review clock under current rules in the Securities Exchange Act. A representative from Bitwise declined to comment pending the regulatory decision. The SEC and 21 Shares did not immediately respond to Decrypt's request for comment. After an initial extension in March and the opening of formal proceedings from May—when it similarly delayed the decisions—the SEC has now used its final allowable 60-day delay, leaving no further procedural options beyond the new deadline. Solana Meme Coins Slump as Investors Rotate into ETH & 'Quality-Focused' Altcoins 'The SEC's full extension likely stems from Solana's still-shaky security-or-commodity status, a call that carries far more consequence than any other concern,' Vincent Liu, chief investment officer at Kronos Research, told Decrypt. 'Market manipulation and surveillance safeguards are also squarely in play, as both factors will set the tone for all future altcoin ETF bids.' For markets, this could sharpen positioning around Solana and influence expectations for other altcoin-linked ETFs, which are publicly traded funds designed to track the price of an underlying asset. 'Traders will speculate and stack Solana to front-run the final call, while the deadline sets the stage for other altcoin-linked ETFs, shaping sentiment, and deciding whether Solana becomes the precedent or the pause button for the next wave of products,' Liu said. Applications for Solana ETFs follow the path set by spot Bitcoin and Ethereum ETFs, using the same Commodity-Based Trust Share framework and leaning on surveillance-sharing arrangements tied to CME Solana futures. Cboe BZX Seeks Regulatory Nod for Invesco Galaxy's Solana ETF The Solana ETF lineup awaiting a decision has widened in recent months, with additional proposals from Canary Funds and Marinade Finance joining those from Bitwise and 21Shares. Other issuers, including ProShares, Grayscale, and VanEck, have made technical amendments to their filings in an effort to align with the SEC's criteria. BlackRock, meanwhile, has previously confirmed it has no plans to launch a Solana product yet, with some observers saying it's likely because the asset management firm is already content with its Bitcoin and Ethereum spot ETFs. With the final 60 days afforded to the SEC to make its decision, some are optimistic that a Solana ETF could be approved this year. 'We're expecting standard spot Solana ETFs to be approved by mid-October at the latest, Bloomberg analyst James Seyffart tweeted Thursday. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Economic Times
5 days ago
- Business
- Economic Times
Cryptocurrency Live News & Updates : Banking Groups Call for Changes to Stablecoin Bill
In recent developments, a coalition of 52 banking organizations, including the American Bankers Association, has expressed concerns regarding the proposed GENIUS Act, urging the Senate to revise the bill to prevent state-chartered uninsured depository institutions from gaining an unfair advantage. Meanwhile, Federal Reserve Chair Jerome Powell is set to address economic conditions at the Jackson Hole meeting, amid speculation of a potential rate cut. The SEC has also delayed its decision on Solana ETF proposals until October, reflecting ongoing regulatory scrutiny in the crypto space. Additionally, BNB has seen a slight decrease but remains above the 840 USDT mark. In a notable move, Citigroup is exploring stablecoin custody services, indicating a growing interest in integrating cryptocurrency solutions within traditional banking. This convergence of banking and cryptocurrency highlights the evolving landscape as financial institutions adapt to the increasing demand for digital asset services. A coalition of 52 banking organizations has urged the Senate to amend the GENIUS Act, particularly opposing provisions that favor state-chartered uninsured depository institutions and calling for a ban on yield offerings by stablecoin companies. Banking Groups Call for Changes to Stablecoin Bill A coalition of 52 banking organizations has urged the Senate to amend the GENIUS Act, particularly opposing provisions that favor state-chartered uninsured depository institutions and calling for a ban on yield offerings by stablecoin companies. Powell to Discuss Economic Outlook at Jackson Hole Federal Reserve Chair Jerome Powell will speak on the economic outlook and Fed policy at the Jackson Hole meeting on August 22, amid rising expectations for a potential rate cut next month. SEC Postpones Solana ETF Decision to October The SEC has delayed its decision on the Bitwise and 21Shares Solana ETF proposals, now due by October 16, to allow for a comprehensive review of the proposed rule changes. BNB Hits 840 USDT with 0.89% 24-Hour Dip As of August 14, 2025, BNB has reached 840.20 USDT, experiencing a slight 0.89% decrease over the past 24 hours. Citigroup Considers Stablecoin Custody Services Citigroup is exploring stablecoin custody and related services, aiming to support cryptocurrency investment products and facilitate stablecoin transfers for clients. BNB Falls Below 830 USDT with 1.67% Drop As of August 14, 2025, BNB is trading at 829.12 USDT, reflecting a 1.67% decline over the past 24 hours, according to Binance Market Data. Ethereum (ETH) Falls Below 4,500 USDT As of August 14, 2025, Ethereum has dipped below 4,500 USDT, currently trading at 4,495.5 USDT, reflecting a 5.59% decline over the past 24 hours. US Spot Ether ETFs Attract $729M Inflows US spot Ether ETFs recorded $729 million in inflows, just behind Monday's record of $1.02 billion, as ETH approaches its all-time high of $4,878. BNB Market Cap Exceeds $120 Billion BNB's market capitalization has surpassed $120 billion, positioning it ahead of ConocoPhillips and ranking it 181st globally in asset market value. Scott Bessent Indicates Potential for Government Bitcoin Acquisitions Treasury Secretary Scott Bessent has shifted his stance, expressing the government's commitment to exploring budget-neutral methods for increasing its Bitcoin holdings, despite earlier statements suggesting no new purchases would occur. Bitcoin (BTC) Falls Below 118,000 USDT As of August 14, 2025, Bitcoin has dipped below 118,000 USDT, currently trading at 117,934.42 USDT, reflecting a 3.96% decline over the past 24 hours. Wall Street and Advocates Push for GENIUS Act Revisions U.S. banking groups and consumer advocates are urging lawmakers to amend the GENIUS Act, particularly to eliminate provisions that could favor certain depository institutions and allow stablecoin affiliates to offer yields. Binance Launches $50,000 Pakistan Crypto Competition Binance announces the 'Pakistan Crypto Clash,' a trading competition where participants can win a share of $50,000 in USDT vouchers. The event is open to verified users and features team competitions led by prominent crypto figures. U.S. Sanctions Crypto Network Linked to Garantex The U.S. Treasury imposed sanctions on entities associated with the ruble-backed stablecoin A7A5 and the now-defunct exchange Garantex, which facilitated over $100 million in illicit transactions. Bitcoin Realized Price Surpasses 200WMA — Bull Market Signal Bitcoin's realized price has exceeded its 200-week moving average for the first time since June 2022, indicating a potential new bull market phase. Justin Sun Files Lawsuit Against Bloomberg Justin Sun has initiated legal action against Bloomberg, claiming the publication of his wallet addresses could expose him to hacking and kidnapping risks. Intel's Shares Rise Amid U.S. Investment Talks Intel's stock surged by 6%, boosting its market value to $103 billion, following reports of potential U.S. government investment in the company, although President Trump has yet to comment on the discussions. Citigroup Explores Crypto Custody and Payment Solutions Citigroup is planning to expand its services into crypto custody and stablecoin payments, aiming to capitalize on the growing crypto market as regulatory conditions improve. Fed Chair Candidate Calls for Easing Amid Inflation David Zervos, a potential Federal Reserve Chair, urges officials to implement easing measures despite rising inflation, advocating for a reduction in the federal funds rate to support job growth. Why Bitcoin Treasury Stocks Lag Behind BTC Despite Bitcoin hitting a record high of $124,457, corporate treasury stocks are significantly underperforming, raising questions about their promised advantages over Bitcoin. Yen Strengthens Against Bitcoin and Dollar Amid Rate Hike Speculation U.S. Treasury Secretary Scott Bessent predicts a Bank of Japan interest rate hike, leading to a stronger yen against both the dollar and Bitcoin, with BTC/JPY dropping 1.7%. Sapien Launches Token to Incentivize AI Training Sapien, a decentralized AI training protocol, is set to launch its SAPIEN token on August 20 to reward human contributions in AI training. Fundstrat: Ethereum May Be Top Macro Trade Ahead Fundstrat's Thomas Lee predicts Ethereum could be the leading macro trade for the next 10-15 years, with price targets of $12,000-$15,000 by 2025, driven by institutional demand and blockchain adoption. Ethereum PoS Network Experiences High Validator Activity The Ethereum Proof of Stake network is seeing significant validator queue activity, with around 700,900 ETH in the exit queue and a withdrawal delay of over 12 days. Meanwhile, new staking demand has pushed the entry queue to 223,338 ETH. Cardano Price Forecast: Analyst Sees $1.50 Potential Cardano has broken out of a bullish pattern, with an analyst predicting a rise to $1.50 amid growing Grayscale ETF excitement. Skale Crypto Faces Potential 40% Drop Soon Skale (SKL) token surged 170% this week after the launch of It Remains on its network, but analysts warn it may soon decline by 40% due to market sentiment shifts, fading hype, and overbought conditions. Coolpad Group Initiates Property Asset Tokenization Coolpad Group has unveiled a strategic four-phase plan to explore the tokenization of property assets, starting with feasibility studies set for completion by Q4 2025. Raydium Surges to $4.10 Amid Volume Spike Raydium's native token, RAY, has surged to $4.10, driven by a significant increase in trading volume and ongoing programmatic buybacks. Putin Hints at New Arms Deal with U.S. Russian President Vladimir Putin has suggested that the U.S. is open to negotiating a mutually acceptable arms agreement, potentially improving global peace dynamics. Master Ventures Swaps $2.4 Million WBTC for ETH Master Ventures has converted $2.4 million in Wrapped Bitcoin (WBTC) into approximately 517.97 million Ethereum (ETH) in just six hours, according to data from Nansen. Barkin Addresses U.S. Unemployment Rate Stability Federal Reserve's Thomas Barkin stated that a 4.2% unemployment rate is stable and not alarming, despite slowing job growth and hiring restraint by companies. Bitcoin Supply Remains Profitable Amid Market Changes Glassnode's analysis indicates that 99% of Bitcoin's supply is currently profitable, maintaining a strong position even during July's market pullback. ICP Climbs to $6.08 Before Sudden Drop ICP experienced a surge from $5.84 to $6.08 but faced a sharp reversal amid security concerns following a breach at raising questions about its authentication system. KAIO Connects Traditional Finance with DeFi via Hedera KAIO has integrated BlackRock, Brevan Howard, and Laser Digital's funds onto the Hedera network, bridging institutional investing with DeFi and enabling blockchain access to traditional investment strategies. Bitcoin (BTC) Hits 119,000 USDT with Minor Dip As of August 14, 2025, Bitcoin has reached 119,198.83 USDT, experiencing a slight decrease of 1.02% in the last 24 hours, according to Binance Market Data. Polygon's POL Token Drops 6% Amid Inflation Concerns Polygon's POL token fell 6% to $0.24 after breaking crucial support levels, driven by rising U.S. wholesale inflation that unsettled risk assets. Bitcoin (BTC) Falls Below 118,000 USDT As of August 14, 2025, Bitcoin's price has dipped below 118,000 USDT, currently trading at 117,777.007813 USDT, reflecting a 2.29% decline over the past 24 hours. Market Shows Signs of Stability After Correction Chris Burniske, a partner at Placeholder VC, highlights that the cryptocurrency market is gradually stabilizing after experiencing a minor correction. ARKK Sees $5.518 Billion in Weekly Inflows ARKK has experienced remarkable fund inflows of $5.518 billion in just one week, according to Bloomberg ETF analyst Eric Balchunas. Year-to-date, ARKK has attracted $4.683 billion with a return rate of 37.24%, outperforming other funds like VOO and QQQ.
Yahoo
09-07-2025
- Business
- Yahoo
Solana ETFs See $78M Inflows as Interest in Altcoin Investment Products Grows
Three Solana-focused exchange-traded funds (ETFs) listed in the U.S. have quietly pulled in $78 million over the past month, reflecting rising interest in altcoin-backed investment products despite the outsized dominance of bitcoin (BTC) and ether (ETH) in ETF markets. The Solana REX-Osprey SOL + Staking ETF (SSK), which launched July 2, has already attracted over $41 million in assets under management, according to Bloomberg Intelligence. Meanwhile, Volatility Shares' leveraged Solana ETF (SOLT) has accumulated $69 million year-to-date, and its regular Solana ETF (SOLZ) holds $23 million. 'It's all much smaller than btc or eth but lot of green numbers = good,' Bloomberg Intelligence senior ETF analyst Eric Balchunas wrote in a post on X. The inflows come as several asset managers prepare for what they hope will be the next major crypto ETF approval: a spot Solana fund that includes staking rewards. While the U.S. Securities and Exchange Commission (SEC) has yet to approve such a product, industry analysts are increasingly optimistic. Earlier this week, CoinDesk reported that the SEC requested issuers re-file key documents by the end of July, signaling a potentially faster timeline than the October deadline originally anticipated. If so, solana (SOL) would join bitcoin and ether as one of the few cryptocurrencies available to U.S. investors through spot ETFs. The bitcoin ETFs, launched in January, have drawn nearly $50 billion in capital, transforming the market for digital assets and placing BlackRock's iShares Bitcoin Trust (IBIT) among the top revenue-generating funds of any kind. IBIT alone now holds 700,000 BTC. Ethereum ETFs, which were approved more recently, have pulled in about $4.5 billion so far. Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
08-07-2025
- Business
- Yahoo
Innovator Launches 2 Dual Directional ETFs
Two new ETFs are designed to let investors benefit from up and down markets — but will they want to? Innovator ETF's two new dual directional strategies allow investors to benefit from market upturns or downturns so long as their index, the S&P 500, stays within a certain range. Like most buffered products, the funds limit upside yield and buy additional put options under the hood. The products are mainly aimed at highly risk-averse investors, like retirees or pre-retirees, who are more concerned with capital preservation than capital accumulation, according to Innovator's director of product strategy Andrew Nelson. Not all experts are convinced of the product's utility, however, because of its high upside cap. 'The payoff structure works really well when you're in those negative 10% to negative 15% ranges, and that just doesn't happen very often,' said Charles Champagne, head of ETF strategy at AllianzIM. 'So the payoff structure benefit is a little narrow.' READ ALSO: All Sunshine for First Spot Solana ETF and Dimensional Hits $200B in ETF Assets Dual directional strategies have long existed in the insurance and annuities spaces — for example, with registered indexed-linked annuities, or RILAs — but Innovator's products mark their entry into the world of ETFs, according to experts. 'There's no free lunch. It's not magic, it's not voodoo,' Nelson said. 'The cost of this is actually that your 'normal' cap, your standard cap that you know and love, is going to be lower than [that of] a competitor.' The two strategies have slightly different buffer levels and upside caps: The Innovator Equity Dual Directional 10 Buffer ETF (DDTL) has a 10% inverse cap and buffer level and a 12.59% upside cap. The Innovator Equity Dual Directional 15 Buffer ETF (DDFL) has a 15% inverse cap and buffer level and a 12.59% upside cap. Product Palooza. The dual directionality funds are the latest introduction of strategies into the ETF world, like autocallables, that have long existed in other spaces. 'As issuers try to find new areas to bring products, they look to insurance products and at the structured notes that are available,' Champagne said. 'It's not surprising that these came to market.' This post first appeared on The Daily Upside. To receive exclusive news and analysis of the rapidly evolving ETF landscape, built for advisors and capital allocators, subscribe to our free ETF Upside newsletter.
Forbes
15-06-2025
- Business
- Forbes
Why The Market Is Ready For A Solana ETF With Staking
The Securities and Exchange Commission reportedly asked prospective Solana ETF issuers to submit amended S-1 forms, raising questions about whether a Solana ETF could be approved this year. If so, it could have massive implications for the entire crypto market. In contrast, it took 10+ years for U.S. investors to be able to invest in a Bitcoin ETF, a decade of struggle that included a lawsuit, countless education initiatives and meetings with regulators resulting in one of the biggest ETF launches ever. Canary Marinade Solana ETF S-1 Ethereum showed up pretty soon after (but with no staking, more on that later). The SEC approved the listing of spot Ethereum ETFs in May 2024. Now we may find ourselves on the very cusp of a Solana ETF being approved, which is incredibly important to the longterm acceptance and adoption of digital assets in America. Bitcoin's story was all about the underlying investment being a sort of digital gold. Solana has a different story, and one that is critical for U.S. technical innovation. Solana is a blockchain that people actually use for more than savings and, due to its speed and efficiency for actually building applications. According to the blockchain data published via Dune Analytics, there were roughly 5.5 million Solana wallet accounts with daily activity in May 2025. Choosing to invest in Solana is, in many ways, like choosing to invest in a technology company. There are a myriad of quantitative data points that show the chain is being utilized and there are countless qualitative examples too. Many of those transactions are processed by companies like the crypto exchange Gemini or the infrastructure and investment firm Sol Strategies, which earn revenue from staking assets and validating the chain, with the average daily gas (fee) revenue in April 2025 yielding around $1.2 million. Gate data estimates the total monthly fee revenue reached roughly $37.5 million. Right now Solana users include a healthy mix of DeFi activity, NFTs, and, increasingly, real world assets being brought on chain. Moodys, Societe Generale, R3, Securitize, Franklin Templeton and BlackRock are all building and releasing products on Solana. All of this is why the timing is right for a Solana ETF. What makes the case for a Solana ETF a little more complicated is that, unlike Ethereum, where the staking reward hovers around 2%, the Solana staking reward of +8% cannot be ignored. Remember my mention of Ethereum staking earlier? When the Ethereum ETFs were finally approved last year (under the Biden administration), the SEC required issuers to strip out staking. With Solana's high staking return it is imperative that the SEC not only approve a Solana spot ETF, but, in fairness to investors, an ETF that stakes. Apart from the return dynamics, another important consideration is that Solana requires Solana in a proof-of-stake system to run the network. Right now, according to Blockworks, 6% of bitcoin is locked up in ETFs (which is incredible in and of itself). If that were to happen to Solana, and that SOL could not be staked, it could cause network issues as more and more SOL tokens became unavailable to the network. The SEC recently released guidance on staking, which appears to support native staking (the best and safest way to an ETF to stake). This, along with a request for comment on S1 filings appears to indicate approval is imminent. Approval will be a great way for a set of investors to access Solana in a new way–supporting the network–and allowing them to participate in the likely future growth of the network.
