Coinbase Custody Role in Solana ETF Push Signals Institutional Confidence

Solana's SOL token is making significant strides toward institutional adoption as ETF filings gain momentum. Invesco and Galaxy Digital have updated their S-1/A submission to the SEC for their proposed QSOL ETF, designating Bank of New York Mellon as the authorized participant and Coinbase Prime as the custodian. This development underscores the advanced readiness of the ETF for potential listing. Despite a recent 3.42% weekly dip, SOL remains resilient at $185.63, with market sentiment staying bullish amid the volatility. The involvement of major financial institutions like Coinbase and Bank of New York Mellon highlights growing confidence in Solana's ecosystem and its potential to reach a $300 breakout. As of November 7, 2025, the progress in ETF filings and institutional backing positions SOL as a strong contender in the cryptocurrency market, with Coinbase playing a pivotal role in its custody and infrastructure.

Solana ETF Momentum Drives SOL Toward Potential $300 Breakout

Solana's SOL token is gaining institutional traction as ETF filings progress, with Invesco and Galaxy Digital updating their S-1/A submission to the SEC. The proposed QSOL ETF has designated Bank of New York Mellon as its authorized participant and Coinbase Prime as custodian, signaling advanced readiness for listing.

Market sentiment remains bullish despite recent volatility—SOL dipped 3.42% weekly but holds at $185.63 with a $102.56 billion market cap. Analysts highlight key support levels as accumulating ETF anticipation could fuel a breakout toward $300.

The crypto's 24-hour trading volume fell 52% to $3.26 billion, yet its position among top altcoins stays unchallenged. 'The infrastructure is now in place,' observed analyst Marty Party, noting the filing's ticker confirmation as a critical milestone.

Coinbase Responds to Senator’s ‘Corruption Factory’ Claim Over Ballroom Donation

Coinbase's chief policy officer, Faryar Shirzad, clarified the company's $46 million contribution to the WHITE House ballroom project through the Trust for the National Mall. The donation, framed as non-partisan, aligns with longstanding inauguration practices. Senator Chris Murphy's accusation of Coinbase fueling Trump's 'corruption factory' was met with firm rebuttals, emphasizing the exchange's adherence to ethical political engagement.

Cryptocurrency exchanges face intensifying scrutiny over political ties, with Coinbase spotlighted for its support of super PACs like Fairshake. The debate underscores broader tensions between crypto enterprises and regulatory skepticism.

Ripio Launches wARS Stablecoin, Expanding RWA Adoption in Argentina

Latin America's cryptocurrency landscape has reached a pivotal moment with Ripio's launch of wARS, Argentina's first peso-backed stablecoin. The Buenos Aires-based blockchain giant, serving over 25 million users across eight countries, is pioneering tokenized local currencies to facilitate borderless financial operations.

wARS operates on Ethereum, World Chain, and Coinbase's Base network, enabling instant cross-border payments, QR transactions, and DeFi yield opportunities. Ripio's strategic expansion includes plans for additional local currency stablecoins, positioning the company as a regional crypto-payments leader.

The stablecoin eliminates traditional banking constraints, offering 24/7 financial access. This development accelerates crypto adoption in Latin America while demonstrating the growing institutional embrace of real-world asset tokenization.

Coinbase in Talks to Acquire BVNK, Boosting Stablecoin Ambitions

Coinbase is advancing discussions to acquire BVNK, a stablecoin infrastructure startup, in a deal valued at approximately $2 billion. The acquisition, potentially closing by late 2024 or early 2025, WOULD diversify Coinbase's revenue streams beyond trading fees. BVNK's technology aligns with Coinbase's growing stablecoin strategy, which generated over $246 million in Q3 revenue.

The GENIUS Act's regulatory clarity has reignited corporate interest in crypto payments. Coinbase Ventures, already an investor in BVNK, seeks to capitalize on this momentum. Stablecoins are emerging as a Core growth driver for exchanges navigating an increasingly institutional crypto landscape.