Solana Staking ETFs May Get US Approval Within 2 Weeks

ETF analyst Nate Geraci predicted that several Solana exchange-traded funds featuring staking could secure SEC approval within two weeks. Asset managers including Franklin Templeton, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary Capital all filed amended S-1 documents for spot Solana ETFs.

The filings arrive two months after the REX-Osprey Solana Staking ETF launched on the Cboe BZX Exchange, recording $33 million in day-one volume. Pantera Capital recently called Solana “next in line for its institutional moment,” citing under-allocation relative to Bitcoin and Ether.

European markets have already seen strong demand, with Bitwise’s Solana staking ETP attracting $60 million in inflows over five sessions. Bitwise CIO Hunter Horsley remarked that “Solana [is] on people’s minds,” reflecting growing institutional interest in SOL exposure.

Analysts noted the inclusion of staking in these filings strengthens the case for Ethereum ETF staking approval later this year. Geraci said October could be pivotal, following the SEC’s new listing standards and the first Hyperliquid ETF application.

Kraken Raises $500 Million at $15 Billion Valuation

Crypto exchange Kraken secured $500 million in fresh funding, valuing the company at $15 billion, Fortune reported. The round closed without a lead investor, featuring support from venture capitalists, asset managers, and co-CEO Arjun Sethi. The raise positions Kraken for an initial public offering expected in 2026, according to industry insiders.

Founded in 2011, Kraken historically raised little venture capital until this year’s rapid expansion. The company reported $411 million revenue and nearly $80 million in Q2 post-Ebitda earnings. Under Sethi’s leadership, Kraken acquired NinjaTrader for $1.5 billion, adding 2 million customers while preparing for broader participation in traditional finance.

Eric Trump Says Stablecoins Can Save The US Dollar

Eric Trump said stablecoins will preserve US dollar dominance, defending the Trump family’s World Liberty Financial project USD1. He claimed USD1 demonstrates how stablecoins could strengthen the dollar’s role amid global financial competition and digital adoption. Lawmakers, however, continue raising conflict of interest concerns surrounding President Trump’s direct financial stake in stablecoin ventures.

Five Democratic senators warned a president’s personal stablecoin holdings pose risks to the financial system and monetary integrity. The administration advanced regulation through the GENIUS Act, which critics say enriched Trump’s family by billions. Supporters argue stablecoins expand the dollar’s reach globally, while skeptics fear regulatory gaps may undermine long-term confidence.

Vitalik Buterin Criticizes EU Chat Control Proposal

Ethereum co-founder Vitalik Buterin denounced the EU’s proposed Chat Control law, warning it undermines privacy and digital security. He said mandatory message scanning creates exploitable backdoors, making citizens vulnerable while exempting government officials from the same requirements. Buterin argued true safety cannot be achieved by systematically weakening protections for private communications.

Fifteen EU states back the law, but Germany’s undecided stance remains pivotal for passage. Critics say the proposal violates Articles 7 and 8 of the EU Charter. Web3 advocates warn the law could push citizens toward decentralized platforms emphasizing privacy-by-design, potentially reshaping Europe’s influence on global digital standards.

Data of the Day

Singapore and the United Arab Emirates ranked as the most “crypto-obsessed” nations in ApeX Protocol’s global study. Singapore scored highest overall, with 24.4% of residents owning crypto and leading worldwide in search activity. The UAE closely followed, ranking first in ownership at 25.3% with adoption up 210% since 2019.

The US ranked third with unmatched ATM availability and Bitcoin ETF growth, while Canada recorded the fastest adoption rate. Turkey placed fifth with nearly one-fifth of its population holding crypto, alongside strong search activity. Analysts said crypto adoption now reflects national financial strategies, with governments positioning blockchain as part of their economic futures.

More Breaking News

• KuCoin appealed a $14.1 million Canadian AML penalty, disputing FINTRAC’s classification and calling the punishment excessive while maintaining regulatory compliance.
• Curve Finance founder Michael Egorov launched Yield Basis, a decentralized Bitcoin yield protocol designed to eliminate impermanent loss and attract institutional liquidity.
• Vanguard is reportedly considering allowing brokerage clients access to third-party crypto ETFs, marking a potential reversal of its long-standing anti-crypto stance.
• A record $18 billion Bitcoin options expiry looms, with analysts warning of delayed volatility and traders split on weekend price direction.
• Aster reimbursed traders after a glitch in its XPL perpetual contract caused forced liquidations, pledging safeguards as the Plasma token launched.
• Telegram and Toncoin's Pavel Durov alleged French intelligence pressured him to censor Moldova election content, which he refused, escalating his fight over online free speech.
• Dubai royal-backed MGX (which invested $2bn in WLFI's USD1 recently), acquired a 15% stake in TikTok’s US business, partnering with Oracle as American firms secure majority control.

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