Latest news with #SolanaSOL
Yahoo
01-07-2025
- Business
- Yahoo
First Solana ETF to Hit the Market This Week; SOL Price Jumps 5%
Solana SOL jumped about 5% Monday morning amid rumors that a SOL Staking exchange-trade fund (ETF) by Rex Shares and Osprey Funds could start trading on the market as soon as Wednesday. The token later fell back slightly, now trading up about 2.3% over the past 24 hours at $157 at press time. A spokesperson for Osprey confirmed to CoinDesk that the "fund will launch Wednesday," following a post on X by the automated headline account "Unfolded." Just last week, Rex filed a letter with the Securities and Exchange Commission (SEC) asking whether comments had been resolved for their filing. Later that day, the asset manager posted on X that the ETF was 'coming soon,' suggesting that the SEC had no further comments. The REX-Osprey SOL+Staking ETF would be the first of its kind in the U.S. Several issuers are still awaiting approval for a spot SOL ETF which would likely also include staking capabilities. 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
26-06-2025
- Business
- Yahoo
Solana-Focused Upexi to Tokenize Shares; Added 56K SOL to Holdings
Nasdaq-listed Upexi (UPXI), a consumer-goods company with a crypto treasury strategy focused on Solana SOL, said on Thursday it will tokenize its SEC-registered shares on the Solana network. The firm has tapped Opening Bell, the tokenized equity issuance platform developed by digital asset manager Superstate and initially available on shares are able to trade around the clock, settle in real time and be held in crypto wallets. It's one of the latest trends within the booming tokenization sector, with firms like Kraken, Coinbase and Robinhood eyeing to take part in it. The company also revealed that it added some 56,000 SOL to its treasury through the past month, bringing total holdings to 735,692 SOL, worth roughly $105 million. Upexi is part of the growing cadre of publicly-traded companies that invest in cryptocurrencies, seeking to emulate the success of Michael Saylor's Strategy, the largest corporate owner of bitcoin BTC. The firm pivoted to a Solana treasury strategy in April raising $100 million in a private placement led by crypto trading giant GSR. 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
17-06-2025
- Business
- Yahoo
Deribit Sees Strong Demand From Institutions, Volume on Its Block RFQ Tool Reaches $23B in Four Months
The institutionalization of cryptocurrencies is accelerating rapidly. Crypto derivatives exchange Deribit's on-demand liquidity tool, the Deribit Block Request-for-Quote (RFQ) interface, has registered a cumulative trading volume of over $23 billion in less than four months since its debut in early March. Deribit is a prominent derivatives exchange, offering the world's largest options market for traders of bitcoin BTC, ether ETH, Solana SOL, and XRP XRP. It also offers futures and spot trading. The exchange introduced the block RFQ system in March, where participants (takers), typically institutions and high-volume traders, request pricing for a structure – a single instrument trade or a multi-legged strategy involving spot, futures, or options. A block trade is a large transaction. Market makers, entities tasked with providing liquidity, then respond with either single or double-sided quotes, following which the best quote for the bid and the ask are displayed to the taker. The best quote for the bid and the best quote for the ask is then displayed to the taker, who can trade by crossing against either the bid or the ask. The system allows large traders to execute orders more efficiently outside of public order book systems, ensuring minimal impact on market prices. Imagine buying vegetables in large quantities directly from a farm (OTC) and receiving a better price and more flexible terms rather than bidding in a crowded market where a large order can significantly raise prices. "The RFQ system allows for multi-leg trades, multiple maker quotes, and greater price efficiency—improving execution for large OTC trades while minimizing adverse selection. It reflects strong institutional demand and Deribit's continued focus on liquidity and trade quality," Deribit's CEO Luuk Strijers told CoinDesk. Strijers noted that the system targets the needs of professional and agency trading operations, such as support for complex structures and large volumes. "Block RFQ lets multiple liquidity providers compete on partial quotes and makers benefit from reduced adverse selection, allowing tighter quotes, while takers enjoy price improvements and anonymity options," Strijers noted. The RFQ system handled trades worth $883 million in March, with the activity booming to $6.3 billion in April. The momentum continued in May, with the tally reaching $9.8 billion and exceeding $6 billion in just the first half of June. If that's not enough, the percentage of block trades executed via Deribit's RFQ has increased to 27.5% this month, up from 17% in April and 21% in May. 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
11-06-2025
- Business
- Yahoo
Moody's Ratings Brings Credit Rating to Solana in Real-World Asset Tokenization Trial
Global credit rating giant Moody's Ratings and tokenization startup Alphaledger have completed a test run showing that municipal bond credit ratings can be embedded into blockchain-based securities, the companies told CoinDesk. The trial, conducted on the Solana SOL blockchain, showcases how credit ratings—typically distributed through proprietary data terminals—could be integrated into tokenized assets on public blockchains. In the proof of concept, a simulated municipal bond was tokenized using Alphaledger's platform. The bond's credit rating, provided by Moody's, was automatically submitted and attached to the token on-chain. The project used an API to move data from Moody's off-chain systems to Solana's public blockchain. For institutional investors navigating decentralized markets, the lack of standardized, trusted information remains a hurdle. By baking a known credit rating into a security token, traders and portfolio managers could hypothetically make more informed decisions about debt instruments in real time. "We've demonstrated a potential scalable model that can unlock liquidity to real world assets by providing investors access to a trusted brand like Moody's Ratings," said Alphaledger CEO Manish Dutta. The test highlights how blockchain tech could complement the existing financial plumbing, as a growing number of traditional finance giants explore ways to use crypto rails for real-world assets (RWA) like bonds, funds and credit. The process, often called tokenization, promises more efficient operations, interoperability and faster, around-the-clock settlements compared to legacy rails. It's potentially a huge market: Boston Consulting Group and Ripple projected that tokenized assets could be a $18.9 trillion market by 2033. Moody's said it will keep exploring how its ratings can serve digital finance. Future implementations could include other fixed income products such as corporate bonds. "We continue to embrace innovation in finance and actively explore new avenues for digital finance ecosystem to access our credit assessments," said Rajeev Bamra, head of strategy for digital economy at Moody's Ratings. The test also showcased Solana's capacity to handle institutional-grade financial data, adding to the network's growing RWA momentum. Last month, Solana Foundation partnered with bank-focused blockchain tech firm R3 to bring real-world assets to the network. A Securitize-issued tokenized fund of Apollo credit assets also debuted on Solana-based DeFi protocol, while Centrifuge expanded Anemoy's $400 million tokenized U.S. Treasury fund on the 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
11-06-2025
- Business
- Yahoo
Ether, Dogecoin Surge, Outpaces Bitcoin as DeFi Comments Spurs Bullish Mood
Bitcoin BTC stayed steady above $109,500 in Asian morning hours Wednesday, a rebound that started after last week's profit-taking. However, all eyes are on ether ETH with traders commenting on upside volatility in the weeks to come and reporting record volumes for certain ETH-based products on some exchanges. ETH zoomed 5% in the past 24 hours, leading gains among majors. 'Investors are finally recognizing the compelling investment opportunity that Ethereum presents. It's still trading well below its all-time highs, while bitcoin is already near its ATH levels,' said Jeff Mei, COO at BTSE, in a message to CoinDesk. He pointed to Ethereum's growing role in tokenizing real-world assets like stocks, money-market funds, and U.S. Treasuries, adding that it was 'very likely that Ethereum will reach and/or surpass its all-time high price by the end of the year.' Ether ETFs have attracted more than $800 million in the past two weeks alone, outpacing bitcoin's sub-$400 million, according to SoSoValue data. That's helped the spread between ether's implied volatility and bitcoin's reach its highest level since late 2022 — a sign traders expect bigger price swings ahead. Open interest in ether perpetuals on Kraken hit an all-time high of 30,000 ETH this week, said Alexia Theodorou, Head of Derivatives at Kraken, in an email to CoinDesk. 'This signals a notable uptick in speculative activity around the second-largest cryptocurrency by market cap,' she noted. However, she cautioned that the market 'has yet to form a clear directional consensus,' with the long/short ratio still well below January levels. Elsewhere in the market, Solana SOL and Cardano ADA posted gains of 4.7% and 3.3%, respectively, adding to the risk-on tone, while XRP XRP rose 2% to $2.30. Ethereum beta bet dogecoin DOGE climbed 3.7% to reverse all of last week's losses. Traders are closely watching upcoming U.S. CPI data on Wednesday, which could sway Federal Reserve rate expectations and shape risk sentiment ahead of next week's meeting.
