Solana Staking ETF Debuts on Cboe: A Milestone for Crypto Investors

In a groundbreaking development for the cryptocurrency market, the first U.S. Solana staking ETF has launched on the Cboe exchange. The REX-Osprey Solana + Staking ETF (SSK), introduced by REX Shares and Osprey Funds, began trading at $25.47 per share, offering investors a unique opportunity to gain exposure to Solana (SOL) while earning staking rewards. Anchorage Digital, the only federally regulated bank authorized for both custody and staking, serves as the exclusive partner for this innovative financial product. This launch marks a significant step forward in the integration of digital assets into traditional finance, providing a regulated and accessible way for investors to participate in the growing staking economy. As of July 3, 2025, this ETF represents a bullish signal for Solana's future, potentially driving further adoption and price appreciation for the cryptocurrency.

First U.S. Solana Staking ETF Launches on Cboe, Anchorage Digital as Custodian

REX Shares and Osprey Funds have debuted the REX-Osprey solana + Staking ETF (SSK), marking the first crypto staking ETF listed in the U.S. The fund began trading on the Cboe exchange at $25.47 per share, offering investors exposure to Solana (SOL) while earning staking rewards.

Anchorage Digital, the only federally regulated bank authorized for both custody and staking, serves as the exclusive partner. Unlike spot bitcoin or ethereum ETFs, SSK operates under the Investment Company Act of 1940, requiring a qualified custodian to hold assets.

"Staking is the next chapter in the crypto ETF story," said Anchorage Digital CEO Nathan McCauley. The product enables indirect SOL exposure while participating in the blockchain's staking mechanism—a milestone for institutional crypto adoption.

Solana Achieves $1B Q2 Revenue and Record TPS Milestone

Solana has solidified its position as a leader in blockchain performance, reporting over $1 billion in network revenue for Q2 2025. The growth stems from surging user engagement, decentralized application volume, and DeFi activity—all facilitated by the network's industry-low average transaction fee of $0.00025.

The LAYER 1 protocol simultaneously set a new real-world throughput record of 1,504 transactions per second, the highest ever observed on any blockchain. While still far below its theoretical 65,000 TPS capacity, Solana's achievement dwarfs Ethereum's base-layer 15-30 TPS and outperforms competing Layer 2 solutions.

With 2.2 million daily active wallets, Solana demonstrates accelerating mainstream adoption. Developers and users increasingly prioritize its trifecta of speed, affordability, and reliability—transforming the network into foundational infrastructure for Web3's next growth phase.

DeFi Development Corp Upsizes Convertible Note Offering to $112M for Stock Buyback and SOL Purchases

DeFi Development Corp (DFDV), a Nasdaq-listed company pivoting to crypto treasury management, has increased its convertible note offering to $112.5 million. The funds will fuel a stock repurchase program and additional Solana (SOL) acquisitions. The notes, maturing in 2030 with a 5.5% coupon, carry a conversion premium of 10% over Monday's closing price.

Investors retain an option to purchase an additional $25 million in notes before the July 7 closing date. DFDV shares fell 12% Wednesday morning, though remain up 3,500% since announcing its crypto strategy. The firm plans to allocate $75 million toward a prepaid forward stock purchase agreement with a note investor, enabling hedging through derivatives.

The balance will fund corporate operations and further SOL accumulation. Formerly a real estate tech platform called Janover, DFDV joins growing ranks of public companies leveraging capital markets to build crypto positions.

Solana Breakout Hackathon Concludes with Major Winners Announced

The Solana Breakout Hackathon has wrapped up, drawing over 10,000 participants and 1,412 project submissions. The event, designed to spur innovation within the Solana ecosystem, awarded top projects across multiple categories.

OpenSOL claimed the University Award, earning $10,000 USDC for its standout contributions. IDL Space secured the Public Good Award, recognized for its open-source benefits to Solana developers. LootGo took home the Mobile Award for its seamless integration with Solana Mobile.

Solana continues to solidify its position as a hub for blockchain creativity, with this hackathon underscoring its growing developer community and technical potential.

Tokenized Stocks: The Promise and Pitfalls of Blockchain-Based Equity Trading

Kraken and Backed Finance have launched "xStocks," a tokenized equities product enabling blockchain-based trading of traditional stocks—with Robinhood expected to follow. The offering promises 24/7 trading, instant settlement, and DeFi composability, with dividends paid directly to wallets. Legal claims on underlying shares add legitimacy, but access is restricted: only KYC-verified, non-U.S. Kraken users can mint or redeem tokens via a Liechtenstein SPV that executes trades during U.S. market hours.

The peg mechanism faces challenges. While arbitrage maintains parity during market hours, price discrepancies emerge when exchanges close—like a $290 Sunday trade for Tesla tokens versus Friday’s $300 close. Convergence relies on voluntary burns when markets reopen, exposing liquidity risks.

Solana Price Breaks Out: Can SOL Surge to $300 in This Cycle?

Solana's price has shattered key resistance levels, completing a bullish cup-and-handle pattern with a projected target of $280–$300. The breakout at $150 marks a pivotal technical shift, reinforced by Alek Carter's analysis labeling it as one of the most compelling charts in the market. Network adoption metrics underscore the momentum—wallets holding over 0.1 SOL have reached a record 11.44 million, while a whale's $1.24 million meme coin purchase signals deepening confidence in the ecosystem.

Technical indicators align with fundamental strength. The cup-and-handle formation suggests a measured move to $280–$300, based on the pattern's depth. Fibonacci levels and a bullish flag further support the uptrend, with SOL currently trading near $151. Analysts emphasize this isn't speculative HYPE but a reflection of Solana's expanding utility, from DeFi to high-throughput applications.