VanEck files for Solana ETF, Ether supply inflates, and more: Hodler’s Digest, June 23-29
VanEck seeks approval for Solana ETF, ETH supply rises 73 days in a row, and Satoshi-era wallet moves Bitcoin.
VanEck has filed for a Solana (SOL) exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission, marking the first such filing on Wall Street. The VanEck Solana Trust aims to reflect the performance of the SOL token, excluding operational expenses. If approved, the ETF will be listed on the Cboe BZX Exchange. VanEcks head of digital assets research, Matthew Sigel, cited Solanas decentralized nature in a social media post, comparing SOL to other digital commodities like Bitcoin and Ether.
Ethers supply has been increasing for 73 days in a row, with over 112,000 ETH added since mid-April. This is the longest inflationary streak since the Merge in 2022. The recent Dencun upgrade, which aimed to reduce transaction costs on Ethereums layer-2 networks, also significantly reduced the amount of ETH burned on the mainnet. Despite this inflationary period, Ethers overall supply has decreased by 345,000 ETH since the Merge.
A Bitcoin wallet from the Satoshi era, dormant since 2010, has transferred 50 BTC to Binance. The wallet, linked to a miner who earned the Bitcoin as a reward when BTC was worth $0.05, has now seen its value rise to millions. The movement of crypto to centralized exchanges is often seen as a bearish sign, as most of the time, the use of centralized exchanges is linked with selling assets.
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Author: Editorial Staff
