Solana ETF Momentum: 21Shares HYPE ETF Signals Altcoin Institutionalization Wave

The cryptocurrency landscape is witnessing a significant institutional shift as Swiss investment firm 21Shares files for a new crypto ETF, following closely on the heels of the groundbreaking GSOL Solana ETF application. This dual filing activity represents a pivotal moment in digital asset evolution, signaling that institutional interest is expanding beyond the traditional Bitcoin and Ethereum dominance into the broader altcoin ecosystem. Market analysts are observing these developments as potential catalysts for an altcoin ETF boom, with Solana positioned at the forefront of this institutional adoption wave. The timing of these filings suggests that major financial institutions are recognizing the maturation and staying power of alternative blockchain networks, particularly Solana's high-performance capabilities and growing developer ecosystem. While the crypto community remains divided on the immediate implications, the sheer momentum of these institutional moves indicates that traditional finance is preparing for a more diversified digital asset future. The 21Shares HYPE ETF filing, coming so soon after the GSOL Solana ETF application, creates a powerful narrative about the next phase of cryptocurrency institutionalization - one where specialized blockchain networks with proven utility and scalability begin receiving the same institutional recognition previously reserved only for market leaders. This development could potentially unlock billions in institutional capital for the altcoin market, fundamentally reshaping investment strategies and portfolio allocations across the global financial landscape. As regulatory frameworks continue to evolve and institutional comfort with digital assets grows, these ETF filings may represent the beginning of a new era where sophisticated investment vehicles for alternative cryptocurrencies become mainstream financial products, with Solana clearly emerging as the frontrunner in this institutional race beyond Bitcoin and Ethereum dominance.

Is 21Shares HYPE ETF the Next Big Thing After GSOL Solana ETF?

Swiss investment firm 21Shares has filed for a new crypto ETF, sparking speculation about a potential altcoin ETF boom. The move follows the recent GSOL Solana ETF filing, signaling growing institutional interest in digital assets beyond Bitcoin and Ethereum.

Market observers are watching closely to see if this marks the beginning of a new era for altcoin investment vehicles. The crypto community remains divided on whether specialized ETFs will drive mainstream adoption or simply cater to niche investor demand.

Garden Finance Suffers $5.5M Multi-Chain DeFi Exploit, Suspected Tied to DPRK Hackers

Garden Finance's cross-chain bridge was exploited for $5.5 million, with unauthorized withdrawals detected across multiple blockchains including Arbitrum. On-chain researcher ZachXBT first flagged the suspicious activity, which may escalate to $10 million in losses. Evidence suggests involvement from the DPRK-affiliated hacking collective Dangerous Password.

Ironically, over half the $5.3 million stolen on solana originated from funds previously taken in the SwissBorg hack. The protocol team has offered a 10% white hat bounty, but the hacker continues swapping freezable assets through MetaMask wallets. 'We're pursuing resolution while strengthening our systems,' Garden Finance stated in an on-chain message.

Anchorage Digital Named Institutional Custodian for Bybit's Staked SOL (bbSOL)

Bybit has partnered with Anchorage Digital, a U.S. federally chartered crypto bank, to provide institutional custody for its staked Solana token, bbSOL. This collaboration strengthens bbSOL's position as an institutional-grade liquid staking token (LST) within the Solana ecosystem.

The integration allows institutions and retail investors to access Solana staking rewards while maintaining liquidity. Anchorage Digital's custody solution ensures compliance and security under U.S. federal oversight, bridging the gap between traditional finance and DeFi.

Bybit has also increased withdrawal limits across VIP tiers, with top-tier clients now able to withdraw up to 60 million USDT daily. The MOVE comes as the exchange develops solutions to meet growing institutional demand for efficient liquidity management.

Garden Finance Faces Scrutiny as 25% of Funds Linked to Stolen Assets, Says ZachXBT

Garden Finance, a cross-chain platform, has come under fire after blockchain investigator ZachXBT revealed that over 25% of its historical transaction volume involved stolen funds. The disclosure follows a recent exploit draining $10.8 million from the protocol, compounding existing allegations of facilitating illicit financial flows.

The platform's troubles predate the breach. ZachXBT had previously criticized Garden for processing funds tied to major hacks, including the Bybit and Swissborg exploits, while ignoring victim refund requests. Between April and July 2025 alone, the platform allegedly generated six-figure profits from questionable transactions.

An on-chain message shows Garden's team offered the attacker a 10% white-hat bounty, though no official statement addresses the security failure or compliance concerns. The exploiter swiftly converted freezeable assets through identified ethereum and Solana addresses.

dYdX Announces U.S. Expansion with Spot Trading Launch by 2025, Excludes Derivatives

Decentralized exchange DYDX plans to enter the U.S. market by late 2025, offering spot trading for major cryptocurrencies like Solana while blocking access to derivative products such as perpetual contracts for American users. The move marks a strategic pivot for the platform, which historically barred U.S. participation.

Competitive fee structures—ranging from 50 to 65 basis points—aim to lure liquidity from established players like Coinbase and Kraken. dYdX’s president framed the rollout as a calculated evolution for the derivatives-focused platform, now eyeing growth under a crypto-friendly political climate.

Unlike centralized counterparts, dYdX operates without intermediaries, leveraging blockchain networks for direct peer-to-peer trading. Its $1.5 trillion lifetime volume underscores the platform’s gravitational pull in crypto derivatives, though U.S. users will initially engage only with spot markets.

Grayscale's Zach Pandl Predicts $5B Inflows for Solana ETFs

Grayscale managing director Zach Pandl forecasts potential $5 billion inflows into Solana-based exchange-traded funds as the US crypto market expands its investment offerings. The introduction of SOL ETFs provides traditional investors with exposure to alternative digital assets through regulated vehicles.

Market analysts observe growing institutional interest in diversifying beyond Bitcoin and Ethereum products. Solana's high-performance blockchain and developer activity position it as a prime candidate for ETF adoption among next-generation crypto assets.