First Solana Staking ETF To Launch In The USA

REX Shares and Osprey Funds will debut the first-ever staked crypto ETF in the US on Wednesday, offering exposure to Solana with onchain yield. Management fees for both funds are 0.75%, but most of the time, fees will actually be higher because of income taxes.

The ETF will hold spot SOL and stake a portion of it, passing staking rewards to investors via dividends taxed inside a C-corp structure. This legal architecture allowed REX-Osprey to bypass traditional ETF constraints while still securing SEC comfort.

Solana’s price surged 6% following the announcement, hitting $158 as traders positioned for institutional inflows. With Solana now up over 12% in a week, some analysts see this launch as a potential ignition point for an altcoin fund boom.

The SEC faces a deadline Wednesday on Grayscale’s proposed conversion of its Digital Large Cap Fund, which includes SOL and XRP. Bloomberg analysts say Solana is “leading the way” among altcoin ETF candidates in a regulatory environment reshaped by Trump’s crypto-friendly stance.

Robinhood Expands With Token Stocks And Perpetuals

Robinhood announced Monday that it will offer over 200 tokenized US stocks and ETFs to users across the EU, alongside new crypto futures and staking features. Shares of Tesla, Apple, and other US firms will be represented on Arbitrum and pay dividends inside the app. CEO Vlad Tenev said during a Cannes event that Robinhood is evolving into a global, all-in-one investment platform.

Robinhood also revealed plans to develop its own Layer 2 blockchain with Arbitrum and complete its rollout of perpetual futures in Europe by late summer. Eligible customers will access derivatives with up to 3x leverage, alongside Ethereum and Solana staking. The company’s $200M Bitstamp acquisition, finalized this month, adds key licenses across global jurisdictions, enabling expanded offerings.

Germany's Largest Banking Group Adds Crypto Trading

Germany’s Sparkassen banking group will offer Bitcoin and crypto trading to retail clients starting in summer 2026 via an integration with DekaBank. The decision reverses a 2021 position when Sparkassen advisors rejected the idea, even as competing cooperative banks moved forward. Customers will access digital assets through the Sparkassen app, but will receive no promotional guidance or investment advice.

The plan follows increased client interest and regulatory clarity under the EU’s MiCA framework, which took full effect this year. A DekaBank spokesperson said development will continue over the next twelve months, with services to roll out in phases. Meanwhile, cooperative banks under DZ Bank are preparing to launch their own crypto platform this summer, leveraging support from Atruvia and Börse Stuttgart.

Supreme Court Declines Coinbase IRS Privacy Case

The US Supreme Court declined to hear a case over whether the IRS overstepped in demanding Coinbase user data, ending a yearslong legal challenge. The case began after a 2017 IRS request sought data from thousands of Coinbase users, including transaction histories and correspondence. A lower court ruled that Coinbase must comply, though it narrowed the scope of records.

Petitioner James Harper, a Coinbase user, sued the IRS for violating his privacy under the Fourth Amendment, attracting amicus briefs from firms like X, Elon Musk’s company. Coinbase’s Chief Legal Officer argued the IRS's actions affect not only crypto but all digital platforms, including banks and ISPs. Despite industry outcry, the court offered no explanation beyond a formal denial of appeal.

Data of the Day

Bitcoin mining difficulty dropped by 7.5% on Sunday, marking the largest decline since China’s 2021 crackdown that forced miners to flee abroad. The adjustment occurred at block 903,168 and followed a sharp drop in network hashrate, which fell to 838 EH/s from recent highs near 900 EH/s. Average block times had slowed to over 10.5 minutes before the change triggered a reset.

Analysts attribute the drop to curtailments at US mining sites, particularly in Texas, where early summer heatwaves prompted grid operators to buy back power. With fewer miners online, remaining operators are now earning more per hash, though this is expected to revert as machines return. The protocol automatically adjusts every 2016 blocks to maintain a steady block production rate around 10 minutes.

More Breaking News

• Senator Cynthia Lummis is pushing to include crypto tax fixes in the sweeping reconciliation bill, calling out unfair double taxation on miners and stakers.
• Ripple’s XRPL now supports Ethereum-compatible smart contracts as its long-awaited EVM sidechain launches to unlock low-cost dapp deployment on XRP.
• SRM Entertainment staked 365 million TRX through JustLend as part of a $100 million Tron treasury plan guided by Justin Sun’s advisory involvement.
• Michael Saylor’s Strategy added nearly $532 million in bitcoin last week, growing its total holdings to 597,235 BTC worth more than $64 billion.
• BitMine shares jumped over 400% after announcing a $250 million ETH treasury raise, aiming to become the top publicly traded Ethereum holder.
• Spanish authorities dismantled a crypto fraud ring that laundered $540 million, arresting five suspects in a global operation involving four countries.
• Hyperliquid processed over $1.57 trillion in annual perpetuals volume, earning $300 million in revenue and outpacing competitors through its viral HYPE airdrop.
• Iran’s Nobitex exchange is gradually restoring services after a cyberattack, starting with verified users and warning against deposits to old wallet addresses.
• Kazakhstan plans to launch a national crypto reserve built from seized assets and state-mined coins, with centralized custody and transparent oversight.

For the latest updates on digital asset markets, follow us on X @Datawalletcom.