SOL retraced its ETF rally, and with over 14% of supply concentrated at $144, holding this key support is critical to avoid a deeper correction. Key takeaways: SOL’s 5% ETF-driven rally to $160 was reversed entirely within 24 hours, exposing persistent technical weakness on the lower and higher time frames. SOL trades near a key $144.5–$147.7 supply cluster. A breakdown below $144 could trigger a drop to $124 or even $95–$100, where support thins out. Read more
Grayscale has slowly narrowed the arbitrage opportunities on its crypto trusts by converting them into exchange-traded funds. Asset manager Grayscale received approval from the US Securities and Exchange Commission (SEC) on Tuesday to convert its Digital Large-Cap Fund into an exchange-traded fund (ETF). The fund consists of the five biggest cryptocurrencies by market capitalization featured in the CoinDesk Five Index. Roughly 80.2% of the weighted fund is Bitcoin (BTC), followed by Ether (ETH) at 11.3%, while Solana (SOL) accounts for approximately 2.7% of the fund, XRP (XRP) commands over 4.8%, and Cardano's ADA (ADA) has a weighting of 0.81% in the fund. Read more
The United States Securities and Exchange Commission is reportedly considering simplifying the listing process for certain crypto ETFs. The United States Securities and Exchange Commission (SEC) is reportedly exploring a simplified listing structure for crypto exchange-traded funds (ETFs) that would automate a significant portion of the approval process. Under the proposed overhaul, ETF issuers could potentially sidestep 19b-4 application filings, the form entities submit to the SEC before listing a financial product on exchanges, according to crypto journalist Eleanor Terrett. Instead, issuers would submit SEC form S-1, the initial listing registration filing, and wait for 75 days. If the SEC does not object to the application, the issuer would be free to list the ETF, reducing the back-and-forth communication between fund managers and the regulator. Read more