Solana, Ethereum Staking ETFs Face Setback After SEC Letter

Monicah W

Asset manager RexShares’ move to become the first to launch the Solana and Ethereum Staking ETFs in the US has hit a roadblock. The US Securities and Exchange Commission (SEC) sent a letter explaining why these funds may not qualify as ETFs. SEC Replies To RexShares On Solana & Ethereum Staking ETFs According to a Bloomberg report, the SEC sent a letter to ETF Opportunities Trust, the entity that issues several ETFs, including the ones Rex Shares manages, stating that the staked Solana and Ethereum funds may fail to meet the legal definition of an investment company, which is a requirement for them to list on the stock market. The Commission said that it was concerned that RexShares improperly filed the registration statements for these funds and that the disclosures in these statements describing them as investment companies may be “potentially misleading.” As CoinGape reported, the asset manager had chosen… Read More at Coingape.com

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Swedish MP Calls for Review of National Bitcoin Reserve

The post Swedish MP Calls for Review of National Bitcoin Reserve appeared first on Coinpedia Fintech News

A Swedish Member of Parliament has officially requested a review on the establishment of a national strategic Bitcoin reserve. This proposal aims to assess the potential benefits and risks of adding Bitcoin to the country’s financial strategy. The move reflects growing interest in digital assets and their role in strengthening national economies. If approved, the review could mark a significant shift in Sweden’s approach to cryptocurrency and its potential as a reserve asset.

The post Swedish MP Calls for Review of National Bitcoin Reserve appeared first on Coinpedia Fintech News
A Swedish Member of Parliament has officially requested a review on the establishment of a national strategic Bitcoin reserve. This proposal aims to assess the potential benefits and risks of adding Bitcoin to the country’s financial strategy. The move reflects growing interest in digital assets and their role in strengthening national economies. If approved, the …

Solana Price Failing To Cross $135 As SOL Circulation Dips to 5-Month Low

Solana (SOL) has struggled to maintain upward momentum in recent weeks. Although the cryptocurrency showed signs of an uptrend, it is now facing challenges due to declining demand for SOL. 

The market environment is also deteriorating, which is contributing to the struggles. At $129, Solana is stalled below the key $135 barrier. There is no clear indication of a breakout in sight.

Solana Struggles To Find Demand

The Velocity of Solana has fallen to a 5-month low, signaling weakening demand. Velocity measures the rate at which an asset is circulated within the market. Solana’s current circulation levels are on par with those seen in October 2024, a clear indicator that the cryptocurrency is losing traction. 

The drop in Velocity suggests that fewer investors are actively trading SOL, further adding to the bearish sentiment surrounding the token. This lack of demand makes a recovery increasingly difficult, as it implies that traders are hesitant to enter the market.

The ongoing low demand for SOL further confirms a bearish outlook. Many investors are likely waiting for a more favorable environment before committing to new positions, which could delay any potential recovery as the token struggles to attract fresh capital.

Solana Velocity
Solana Velocity. Source: Glassnode

Analyzing the 2-week Market Value to Realized Value (MVRV) Ratio, a key metric that tracks the average profit or loss of recent buyers, reveals that the ratio is currently below the zero line. This suggests that investors who purchased SOL within the last two weeks are now facing losses.

This situation could lead to one of two scenarios: either investors hold their positions, hoping for a price recovery, or they sell to cut their losses.

If the latter occurs, increased selling pressure could push the price lower and potentially invalidate any attempts at recovery. In this scenario, the market would likely remain bearish until sentiment shifts.

Solana Liveliness. Source: Glassnode

SOL Price Is Struggling

Solana is currently trading at $130, struggling to break through the critical $135 resistance. While there has been a short-term uptrend, the likelihood of SOL breaching this level seems low. This suggests that the price could remain range-bound for the near future.

The combination of low demand and weak market sentiment points toward a potential decline. Solana may fall through its uptrend support line, with the next significant support levels lying at $125 and potentially $118.

This scenario would delay any recovery, pushing the token further into a bearish trend.

SOL Price Analysis.
SOL Price Analysis. Source: TradingView.

On the other hand, if Solana manages to break through the $135 resistance, the altcoin’s price push toward $148. A sustained move above this level could propel SOL to $150, invalidating the bearish outlook.

The post Solana Price Failing To Cross $135 As SOL Circulation Dips to 5-Month Low appeared first on BeInCrypto.

U.S. Government Establishes Strategic Bitcoin Reserve: Key Insights & Market Impact

The post U.S. Government Establishes Strategic Bitcoin Reserve: Key Insights & Market Impact appeared first on Coinpedia Fintech News

The U.S. government has long held a significant Bitcoin stash, mostly from criminal seizures and civil forfeitures. President Donald Trump has officially signed an Executive Order to establish a Strategic Bitcoin Reserve. This reserve will be funded using seized BTC, ensuring taxpayers won’t bear any costs. Trump’s crypto czar, David Sacks, compared this move to creating a “digital Fort Knox” to solidify America’s dominance in the crypto economy.

The Big Question: How Much BTC Does the U.S. Hold?

Estimates of U.S. government Bitcoin holdings vary widely. David Sacks claims the government holds close to 200,000 BTC, and an audit has been ordered to determine the exact amount. 

Crypto analyst Conor Grogan estimates the figure at 198,109 BTC, worth around $18 billion at current prices. However, analyst Alex Thorn argues that only 86,000 BTC is available for use, as 112,000 BTC was seized from the Bitfinex hack and is expected to be returned.

Key Takeaways from Trump’s Executive Order

  • The government will not sell BTC stored in reserve.
  • An official audit has been ordered to verify holdings.
  • The Treasury and Commerce Departments will explore budget-neutral strategies.
  • A separate Digital Asset Stockpile has been created for non-Bitcoin assets acquired through forfeitures.

Legal Confusion: Seized vs. Forfeited BTC

In response to Thorn, Miles Deutscher adds more clarity, explaining that while the U.S. government technically holds 198,000 BTC, only 88,000 BTC (43%) is available for use. The rest is caught up in legal battles, particularly regarding Bitfinex’s hacked funds. This distinction between “seized” and “forfeited” assets could impact how much BTC the government can leverage for the Strategic Reserve.

Samson Mow, CEO of JAN3, emphasizes that the U.S. Strategic Bitcoin Reserve (SBR) is more than just seized assets—it marks the beginning of nation-state Bitcoin adoption. While some argue there’s no actual buying, he assures that “budget-neutral” methods like Bitcoin bonds or selling gold will come into play. He highlights that with the SBR, Bitcoin is now officially treated like gold, creating a “digital Fort Knox.” The move also triggers an official audit of U.S. Bitcoin holdings, challenging inflated estimates of 207k-220k BTC, as 95k BTC will be returned to Bitfinex. With China holding 194k BTC, Mow suggests the U.S. won’t settle for second place and will eventually acquire more Bitcoin, fueling a global race for strategic BTC reserves.

Market Impact

The crypto market has reacted strongly to Trump’s Bitcoin Reserve announcement. Prices of ADA, XRP, and SOL jumped following the news, while Bitcoin itself faced a brief sell-off amid funding confusion. Historically, when the U.S. government has offloaded Bitcoin, the market has suffered. However, Sacks’ assurance that the government will not sell BTC from the reserve has given investors hope for stability.

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The post U.S. Government Establishes Strategic Bitcoin Reserve: Key Insights & Market Impact appeared first on Coinpedia Fintech News
The U.S. government has long held a significant Bitcoin stash, mostly from criminal seizures and civil forfeitures. President Donald Trump has officially signed an Executive Order to establish a Strategic Bitcoin Reserve. This reserve will be funded using seized BTC, ensuring taxpayers won’t bear any costs. Trump’s crypto czar, David Sacks, compared this move to …