Solana, a high-performance blockchain platform known for its fast transaction speeds and low costs, is currently consolidating near the $75 zone as buyers begin to step in and defend this key support level. After an extended period of price declines, recent market action has shown early signs of a potential rebound, with technical indicators hinting at a possible easing in selling pressure.
Bullish Divergence and Short-Term MomentumSolana price has been under sustained pressure in recent months, struggling to regain previous highs. However, market participants are watching a notable development: bullish divergence is emerging on lower timeframes, where prices continue forming lower lows while the Relative Strength Index (RSI) is starting to recover.
Trader Symba has pointed out that selling momentum appears to be slowing near the $73.05 to $72.00 range. Although immediate confirmation is still needed, this divergence could mark the beginning of a reversal if buyers maintain support above $75. Breaking above this level could initiate a push towards resistance between $81 and $82.
Trader Symba observed that despite lower price levels, the RSI’s recovery signals diminishing selling pressure, possibly paving the way for a bullish move if Solana reclaims $75.
Downtrend Structure and Breakout SignalsSolana remains constrained beneath a significant descending trendline, which has shaped price action throughout its recent slide. Analyst Celal Kucuker highlighted that a daily close above the $81–$82 zone would be a strong technical indicator of renewed bullish momentum on larger timeframes.
If Solana breaks out from the current trendline, the next upside targets would be near $95. A continued rally could potentially open the path to the broader $120–$140 resistance zone, an area that traders are closely watching for a possible larger trend reversal.
Key LevelPrice ZoneSignificanceFirst Support$75Current buyer defense, bullish divergence zoneInitial Resistance$81–$82Breakout confirmationNext Resistance$95Subsequent upside targetMain Target$120–$140Trend reversal and major resistance areaCelal Kucuker stated that only a daily close above $81–$82 would mark the first significant sign that momentum is turning positive for Solana holders.
Potential for Long-Term RecoveryAnalyst Gum emphasized that significant upside potential exists if Solana can decisively reclaim major support and resistance levels. On the weekly chart, the token is still holding above several key longer-term supports, keeping the prospect of a recovery towards the $140 region intact. A move back above key moving averages would further bolster Solana’s long-term outlook.
However, before testing the $140 resistance, the asset must first establish support above $75 and confirm a breakout beyond the $81–$82 zone, followed by a push towards $95.
Mini dictionary: Relative Strength Index (RSI), a technical indicator used to assess momentum and trend strength in asset prices. A “bullish divergence” occurs when RSI rises while price falls, often signaling weakening selling pressure and a possible reversal.
Extended Downtrend and Market SentimentIn a sign of the prolonged market weakness, Solana is now nearing its 10th consecutive monthly red candle, reflecting ongoing selling pressure over an extended period. Whale Factor noted this rare streak, which has increased the potential for a short squeeze if sellers exhaust their positions and buyers return aggressively.
While persistent declines suggest a bearish structure, such patterns sometimes create conditions for swift and sharp recoveries once the trend shifts.
Key Levels and August OutlookAs of the latest data, Solana is trading at $73.66, showing a marginal 0.01% gain in the past 24 hours. Immediate support remains at $75, with resistance sitting at $81–$82. Further resistance is present at $95, and the larger reversal target extends to the $120–$140 region.
If Solana fails to hold support at $75, the price may retest lower levels in the $70–$65 range. Conversely, a breakout above immediate resistance could signal a potential shift in direction and a recovery attempt for the coming month.
$75 – Critical short-term support$81–$82 – Initial resistance and breakout confirmation zone$95 – Next resistance level$120–$140 – Larger reversal and resistance targetHeading into August, Solana traders are focused on whether the asset can reclaim critical resistance levels to initiate a broader recovery after one of the longest monthly losing streaks in its recent history.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Morgan Stanley Investment Management launched two new crypto exchange-traded products on NYSE Arca on July 28: the Morgan Stanley Ethereum Trust (MSSE) and the Morgan Stanley Solana Trust (MSOL). Both carry a 0.14% expense ratio and both intend to stake a portion of their holdings, passing the full staking reward through to shareholders.
"MSIM will not retain any portion of the rewards earned by either ETP for itself," the firm said in its announcement.
The products track the CoinDesk Ether Benchmark and CoinDesk Solana Benchmark 4pm New York settlement rates, respectively. Morgan Stanley Investment Management acts as Delegated Sponsor rather than direct custodian, holding assets through third-party custodial agreements in segregated accounts. Neither trust is registered under the Investment Company Act of 1940, the same structure used by the spot bitcoin and ether ETFs approved in 2024.
“Since introducing our first ETFs in 2023, we’ve built a diversified suite of ETFs and ETPs that now exceed $14 billion in assets under management,” said Ally Wallace, MSIM’s global head of ETFs. “The addition of MSSE and MSOL reflects the natural evolution of our product suite, which seeks to provide simplified access to digital assets through the ETP wrapper.”
Amy Oldenburg, MSIM’s head of digital asset strategy, framed the launch around portfolio construction rather than speculation: “Digital assets are becoming an increasingly important component of diversified investment portfolios.”
The launch follows the Morgan Stanley Bitcoin Trust (MSBT), which debuted earlier this year as the first crypto ETP from a U.S. bank-affiliated asset manager and holds more than $381 million in assets as of July 16. MSSE and MSOL extend that franchise from bitcoin, where Morgan Stanley was already a year behind the first spot approvals, into Ether and Solana, where it is considerably later still.
By the time MSSE and MSOL started trading, Bitwise’s staked Solana ETF (BSOL) already held roughly $418 million and staked its full Solana balance for a 7.1% reward rate, using its own validator infrastructure rather than delegating to an outside operator. Grayscale’s Solana Trust ETF (GSOL) targets full staking too, but at a considerably higher cost: a 0.35% base fee plus a 23% cut of staking rewards. REX-Osprey’s SSK, the first U.S. fund to combine spot Solana exposure with staking, has around $90 million in assets. Morgan Stanley is not creating this category. It is undercutting it on price while adding a brand name that carries weight with wealth managers who would not put client capital into a REX-Osprey or Bitwise product.
That price positioning matters more than usual because of where Ether and Solana actually sit. Ether has fallen more than two-thirds from its August 2025 high near $4,950 and is trading close to $1,900, down roughly a third year to date and underperforming bitcoin’s own decline. Solana has fared worse in percentage terms, trading near $74, down about 74% from its January 2025 peak. A staking yield is a percentage of a shrinking number, and a fund’s expense ratio eats into that yield directly. On assets that have lost most of their dollar value over the past year, the difference between paying 0.14% and paying 0.35% plus a quarter of the reward stream is no longer a rounding error for an allocator sizing a position for the first time.
What’s notable is that the price collapse has not deterred flows into these wrappers. Solana spot ETFs have taken in more than $1.1 billion cumulatively, and by late July had strung together a run of consecutive trading sessions with net inflows even as the token itself sat near multi-quarter lows. That combination, falling spot price alongside rising ETF assets, is usually read as evidence that the buyer base has shifted: from traders chasing momentum to allocators building a structural position through a regulated wrapper, indifferent to short-term price action because the thesis is multi-year. Morgan Stanley’s entry reinforces that reading. A private bank does not launch a staking product to catch a rally; it launches one because its wealth management arm has clients asking for an allocation and needs a vehicle it is comfortable putting in front of them.
The regulatory backdrop has also shifted the calculus for issuers. The SEC has spent this month working through a broader “Regulation Crypto” agenda that includes a proposed generic listing standard for crypto ETFs, under which any asset with six months of regulated futures trading would qualify automatically rather than requiring an asset-specific rule filing. That kind of standardization is what lets an asset manager like Morgan Stanley move from bitcoin to ether to solana in the space of months rather than years, and it is likely to keep drawing new entrants into an already crowded staked-ETP field.
The open question is whether undercutting on fee is enough to take share from Bitwise and REX-Osprey, both of which have a head start and, in BSOL’s case, its own validator setup rather than a delegated one. Fee compression tends to favor incumbents with scale until a large enough distribution advantage arrives to reset the field, and Morgan Stanley’s wealth management channel is exactly that kind of advantage. The next few months of AUM data, not the launch itself, will show whether brand and price beat first-mover validator infrastructure in a market still deciding what a staking ETF is actually worth.
Licensed to Shill: Retail Barely Touches Stablecoins – Treasury & Remittance Are the Real Adoption (Jeannie Lim, Xweave)
At Xweave, Jeannie Lim says her team moved $1 million for an e-commerce client in under three minutes, cutting settlement costs 30% against a Tier 2 bank’s SWIFT rate.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Solana is attempting to stabilize near key support levels following a significant decline in its token’s price and overall market value. After surging from approximately $8 to nearly $295, SOL has surrendered more than 75% of those gains and now trades around the $69 to $74 range. This sharp retracement mirrors the broader contraction seen in Solana’s network valuation, which currently stands close to $42.8 billion.
Technical outlook: Key support and resistanceSOL’s long-term price chart highlights its journey from deep bear-market lows to a record-setting rally, followed by a steep sell-off. The $69 to $74 region, which served as a critical base prior to the most aggressive phase of the uptrend, now acts as the main support zone. Recent price action has seen SOL consolidating in this area, though there has not yet been a clear signal of a bullish reversal.
A sustained defense of the $69 support level could prompt speculation that SOL is forming a bottom. However, buyers would need to successfully break above the short-term consolidation band near $80 to $85 to suggest momentum is shifting in their favor.
Looking higher, the next key zone is around $90 to $100. This area previously functioned as support during the downturn and could now serve as resistance, especially if market participants who bought at higher prices choose to exit on a rebound.
If SOL fails to hold $69, the risk of a further decline toward the $60 mark increases, reinforcing the current downtrend. Only consistent higher lows and a recovery of past support levels would provide evidence that the broader trend is improving.
Buyers are watching the $69-$74 price zone as a potential floor for SOL, but the chart suggests that a confirmed recovery would require both defense of these levels and a move above the $80-$85 range, signaling an improvement in short-term momentum.
Price PointsRoleCurrent Status$69-$74Main support zoneUnder test$80-$85Resistance/consolidationKey breakout needed$90-$100Potential new resistancePrevious supportMarket capitalization and valuation trendsSolana’s market capitalization, a key metric that multiplies price by circulating supply, charts not just price behavior but the network’s overall value in the crypto market. This figure has declined from a peak above $120 billion to approximately $42.81 billion, illustrating the scale of the retracement. While shifting market capitalization reflects rapid changes in valuation, it does not directly represent funds exiting the project, but rather shifts in market sentiment and price movement as token supply remains steady.
Mini dictionary: Market capitalization, or market cap, is a measure used in cryptocurrencies and traditional finance to represent the total value of a project. It is calculated by multiplying the current price of the asset by its circulating supply.
Recent chart data shows Solana’s valuation staying between approximately $40 billion and $50 billion. Maintaining the lower end of this range could help stabilize the network’s valuation. A move back above $50 billion would be an early signal of returning market-wide demand.
A decline below $40 billion would strengthen the prevailing bearish outlook, while a pattern of higher monthly closes in market capitalization would be necessary to indicate a robust foundation.
The current market cap range between $40 billion and $50 billion has become a crucial area to monitor, as holding above the lower boundary could signal stability while a further breakdown may indicate the contraction is ongoing.
Market Cap LevelImplicationAbove $50 billionEarly recovery signal$40-$50 billionCurrent monitoring rangeBelow $40 billionIncreased bearish riskOutlook: Recovery requires support and sentiment shiftOverall, Solana’s price and market capitalization data suggest the asset is trading near a significant floor, but sustained improvement relies on buyers defending key support and reversing the persistent downtrend in both price and valuation. Without renewed momentum or stronger evidence of recovery, the outlook for SOL and the broader Solana network remains cautious.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.
Solana-connected applications pushed nearly $4 billion in transaction volume through WalletConnect during the first six months of 2026. That figure, spanning January through June, came from roughly 500,000 transactions across 766 apps operating in 200 countries.
To put Solana’s share in perspective, WalletConnect’s total network volume surpassed $207 billion during the same period. Solana’s $4 billion slice works out to just under 2% of that total.
What’s actually driving the volume Three names keep surfacing as the engines behind Solana’s WalletConnect activity: Kamino, Jupiter, and Jito.
Jupiter has cemented itself as Solana’s go-to aggregator for swaps, routing trades across multiple decentralized exchanges to find users better prices. When volume flows through Jupiter, it tends to mean retail and power users alike are actively trading on-chain rather than sitting on centralized exchanges.
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Kamino handles automated liquidity strategies and lending, giving users ways to put idle capital to work. Its presence at the top of the Solana leaderboard on WalletConnect suggests that lending and liquidity provision, not just speculation, are driving real engagement.
Jito has carved out a niche in liquid staking on Solana. Liquid staking lets users earn staking rewards while keeping their tokens usable in DeFi protocols. Jito’s prominence in these numbers signals that Solana’s staking economy is maturing beyond simple lock-and-forget strategies.
WalletConnect’s quiet dominance The $207 billion in total network volume across H1 2026 underscores how deeply embedded WalletConnect has become in the daily rhythm of crypto usage. The geographic spread adds another layer. Transactions coming from 200 countries means this isn’t a Silicon Valley hobby or a Southeast Asian phenomenon.
WalletConnect shared the H1 2026 network update through its official channels around late July, and members of the Solana ecosystem quickly amplified the data.
Context and competitive positioning The 766 applications plugged into WalletConnect on Solana hint at ecosystem depth. Nearly 800 apps suggest a broader base of builders shipping products that people actually use.
It’s also worth noting that WalletConnect is just one connectivity layer. Users interacting directly through browser extensions, mobile wallets with native integrations, or embedded wallet SDKs wouldn’t show up in these numbers. The $4 billion is a floor, not a ceiling.
What this means for investors For anyone watching Solana’s fundamentals, these WalletConnect numbers offer a useful health check. Transaction volume through a neutral connectivity layer is harder to game than metrics like total value locked, which can be inflated by token price appreciation or recursive lending strategies. When half a million transactions flow through a third-party infrastructure provider, it suggests genuine user demand.
One risk to monitor is concentration. Three protocols driving the lion’s share of a chain’s WalletConnect activity means that a smart contract exploit, a governance dispute, or a regulatory action targeting any one of them could meaningfully dent the numbers.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
An Ethereum Underdog Outearns Solana's Gacha LeaderFake World Assets (@token_works), an Ethereum-based protocol built as a pointed commentary on the real-world assets narrative, has overtaken Solana's Collector Crypt in daily revenue. The protocol cleared roughly 3,000 ETH in cumulative volume within four days of its July 20 relaunch, scaling to over 30,000 NFT purchases in that window.
A self-funded project built by two people is generating more daily revenue than one of the most successful protocols on Solana. The milestone is notable given the cost differential between the two chains. An Ethereum-based protocol outpacing a Solana-based competitor on daily revenue is significant given that Ethereum transactions cost more, meaning users are paying a premium to participate, which points to genuine demand rather than bot-driven volume farming.
How the Loot Box Model WorksFake World Assets is an onchain, randomized NFT acquisition protocol. Depositors list NFTs together with committed ETH backing, similar to a Uniswap V2 pair. That backing sets each position's selection weight and funds a standing bid for the depositor to reacquire the NFT. Anyone can pay the pool-derived acquisition price to receive one randomly selected NFT position. Chainlink VRF supplies the randomness. Once a buyer receives their NFT, they can keep it, sell it back to the depositor for most of the backing ETH, or take a payout in $FWA tokens.
The protocol also employs a loss-to-earn mechanism, compensating users who deposit assets that get pulled by others through token emissions and fee distributions. $FWA is the reward token that ties the protocol's revenue to buy pressure.
As of writing, $FWA is trading at $0.01826 with a market cap of approximately $15.5M on $5.73M in TVL. Token emissions are set to run out around August 4, with circulating supply already at 849M of a 1B total. This is not financial advice.
For context on what FWA has overtaken: Collector Crypt had achieved a record weekly trading volume of $127 million around June 2026 and crossed $50 million in cumulative protocol revenue by mid-June. The platform had reached 40,000 daily users opening tokenized trading card packs on Solana, generating $4.07 million in protocol revenue over a single seven-day period.
Sources
Fake World Assets TVL and Revenue, DeFiLlama
Token Works' Fake World Assets surpasses Collector Crypt in revenue, Crypto Briefing
Fake World Assets Protocol Overview, fwa.fun
After yet another unsuccessful attempt at recovery, Solana fell back below its 100-day moving average, supporting the idea that sellers are still in charge of the medium-term trend. Bulls have little cause for optimism in the near future because the asset, which is currently trading at $73, is still trapped beneath all significant resistance levels with the exception of the 200-day moving average.
Technically speaking, the recent rejection is significant since SOL was unable to maintain its position above the 100-day moving average at $74.50. For a brief period in the second half of July, that level served as support, but the most recent daily candles indicate that sellers are taking back control. The 200-day moving average is still much higher near $79. 60, while the 50-day moving average is currently falling toward $75.70.
SOL/USDT Chart by TradingViewThis creates a layered resistance zone that will be challenging to break without a more significant market recovery. Despite multiple strong recoveries from June's capitulation low, July's price action has mostly consisted of lower highs.
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Before challenging the longer-term trend, each rally has lost steam, indicating that market participants are still taking advantage of strength to lower exposure rather than open new long positions. Over the past few sessions, volume has progressively decreased, indicating a decline in both buyers' and sellers' conviction.
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The absence of strong selling pressure reduces the likelihood of another sudden collapse, but it also shows that there is still not enough demand to produce a long-term breakout. Momentum is once again below the neutral threshold as the RSI has fallen to about 48. This shows that buying pressure is waning without driving Solana into an oversold situation, allowing for another leg lower in the event that support falters.
Near $72 is the first level to keep an eye on. The June recovery base could be exposed at $68-$70 if there is a clear break below that support. Bulls must recover the 50-day and 100-day moving averages on the upside before momentum starts to move in their favor.
The overall technical picture would only be significantly improved by a move above the 200-day moving average close to $80. Until then, Solana is still in a corrective phase, where rallies will probably face ongoing selling pressure before turning into a more significant trend reversal.
Zcash's key technicall zoneAfter declining back toward its 200-day moving average, Zcash is testing one of its most crucial technical support zones. Bearish momentum has returned after an impressive recovery throughout July, pushing ZEC below the 50-day and 100-day moving averages and posing a threat to erase a significant portion of the prior gain.
The price has dropped to about $462, and the 200-day moving average, which is close to $411, is still the last significant long-term support below the market. Over the past two weeks, the overall structure has significantly deteriorated, even though ZEC has not yet attained that level. After peaking close to $570, the asset produced a series of lower highs and lower lows, indicating that buyers have gradually lost control.
ZEC/USDT Chart by TradingViewThe 100-day moving average, which was close to $472, has also lost ground, and the 50-day moving average has rolled over and is currently above price at $495. These two indicators now stand for immediate resistance, so any short-term recovery is probably going to encounter selling pressure in the $470-495 range.
Since June and the beginning of July, trading volume has drastically decreased. Consolidation is frequently accompanied by lower participation, but it also represents waning buying interest following the prior rally when paired with weakening price action.
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Indicators of momentum lend credence to the cautious approach. Without yet entering oversold territory, the RSI has declined toward 43, falling below the neutral level. Before technical exhaustion starts drawing in stronger dip buyers, there is still potential for further declines.
On the downside, focus would shift to the 200-day moving average around $410 if the market failed to stabilize around current levels. That level, which is the chart's strongest long-term technical support, may decide whether Zcash stays in a more general recovery trend or moves into a more protracted correction.
Bitcoin's consolidation must endAfter recovering from the steep sell-off in June, Bitcoin is still consolidating around $64,000, but the overall technical structure remains unclear. The asset is still stuck below the 50-day and 200-day moving averages, preventing a clear return to bullish territory even though it has stabilized above its 100-day moving average.
The market is looking for guidance, as seen by the recent price movement. After the sharp drop from above $80,000, Bitcoin reached a local low of about $59,000 before progressively creating a string of higher lows. The 100-day moving average has flattened and started to function as dynamic support around $63,300, a level that buyers have successfully defended over the previous few sessions, thanks to that recovery.
BTC/USDT Chart by TradingViewOverhead resistance is still quite significant, though. While the 200-day moving average is still significantly above the current price at about $73,200, the 50-day moving average is currently close to $67,500 and is still trending lower. Before the longer-term outlook can improve, bulls must overcome a sizable resistance zone that they have created together.
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Compared to the panic selling in early June, volume has significantly decreased, indicating that neither buyers nor sellers currently have a clear advantage. Rather, following the previous volatility wave, Bitcoin seems to be entering a phase of accumulation or range trading. The picture painted by momentum indicators is similarly balanced.
Without going into overbought territory, the RSI has rebounded to about 53, rising back above the neutral 50 threshold. This shows that momentum is increasing but not strong enough to support a long-term breakout.
To overcome resistance around $65,500 and ultimately the 50-day moving average, more buying pressure will be required. The crucial support continues to be between $63,000 and $64,000. The $61,000 region would probably be tested first by a clean break below that zone, and June's lows around $59,000 might then be retested.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The Key Technical LevelsIn a livestream podcast on July 28, pseudonymous analyst DonAlt said Bitcoin needs to move decisively away from the $60,000 region and reclaim $65,000 to improve its technical outlook.
While Bitcoin has managed to hold the zone, he said repeated tests weaken support and increase the risk of a breakdown.
Ethereum Looks Ready To RunEthereum stood out as the most attractive major crypto asset in DonAlt’s analysis as it is displaying relative strength against Bitcoin for the first time in an extended period.
A sustained move above $2,000 would improve Ethereum’s short-term structure, while a breakout above $2,500 could potentially open the door to a rapid return toward its previous all-time high.
DonAlt acknowledged his historical bias toward Ethereum but noted that the improving ETH-BTC chart and widespread investor skepticism create a favorable setup.
He argued that once Ethereum begins gaining momentum, sidelined investors may rush to regain exposure, accelerating the move.
Meanwhile, Solana (CRYPTO: SOL) continues to underperform, with DonAlt identifying the $35 to $40 region as a potential buying zone if the broader market breaks down.
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Wall Street’s push into regulated crypto investment continues to gain momentum as Morgan Stanley expands beyond Bitcoin [BTC] into Ethereum [ETH] and Solana [SOL].
The launch of the Morgan Stanley Ethereum Trust under the ticker MSSE and the Morgan Stanley Solana Trust under the ticker MSOL broadens institutional access through exchange-traded products listed on NYSE Arca.
Both products charge a competitive 0.14% sponsor fee, strengthening their appeal against existing crypto ETPs. Meanwhile, this comes after the firm launched its Bitcoin ETP in April this year.
Source: Solana on X Backed by the firm’s nearly $2 trillion in total assets managed, these new offerings provide even greater regulated exposure to SOL and ETH.
Importantly, they do so without requiring direct custody of the underlying asset, instead providing compliant exposure to the markets through traditional investment vehicles. In doing so, they further enable institutional adoption of digital assets.
Network fundamentals support demand Growing institutional access also reflects confidence in the underlying networks rather than new investment products alone.
Ethereum continues to strengthen that case, with staked ETH rising from 38.5 million in Q1 to a record 40.2 million in Q2 2026, representing 33% of total supply worth approximately $63 billion.
Source: Bitwise Meanwhile, 67.9% of Solana’s circulating supply remains staked despite network staking yields declining from 9.1% to 6.3% over five quarters. That resilience suggests long-term holders continue prioritizing network participation over short-term rewards.
Source: Bitwise As more tokens remain locked in staking, liquid supply tightens while institutional conviction strengthens. Together, these fundamentals reinforce the long-term investment case supporting regulated Ethereum and Solana products.
Will inflows keep growing? Those network fundamentals now face their next institutional test. Morgan Stanley’s latest ETPs must attract fresh capital rather than simply redirect existing allocations from competing issuers.
However, while the firm’s earlier Bitcoin product accumulated roughly $389 million in assets, sustained inflows across Ethereum and Solana products will provide the stronger measure of demand.
Source: Morgan Stanley.com All in all, if assets under management continue expanding over successive quarters, institutional adoption will deepen. Otherwise, competition may increase without materially enlarging the overall crypto investment market.
Solana quietly crossed a meaningful threshold on July 29, 2026. The network activated SIMD-0286 on mainnet during Epoch 1009, raising the maximum block compute units from 60 million to 100 million. That 66% jump in per-block capacity is the single largest throughput expansion Solana has made in recent memory.
For context: compute units are roughly how Solana measures the computational cost of processing transactions. Think of them like seats on a plane. Before this upgrade, the plane had 60 million seats. Now it has 100 million. More transactions can fit into each block without waiting for the next one.
What SIMD-0286 actually changes The upgrade was authored by Lucas Bruder of Jito Labs and first proposed publicly on GitHub in May 2025. It went through testnet and devnet trials before landing on mainnet, which is the standard cautious path for changes this significant.
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Not everything changed, though. The writable account compute unit cap remains at 12 million CUs, and the maximum block data size delta stays at 100 MB. The upgrade is surgical: more room per block, same slot timing, zero required changes to existing applications.
Slot times also remain at 400 milliseconds. Solana did not trade latency for throughput here.
Early network observations following activation reported improved throughput for high-volume use cases, specifically DeFi and payments. No immediate technical issues were registered, which is about the best outcome a blockchain upgrade can realistically achieve on day one.
Why timing this right matters Approximately 11% of blocks were already approaching the previous 60 million CU ceiling during peak demand periods. The network was starting to show its ceiling during exactly the moments it needed to perform most reliably.
This upgrade also builds on a prior step. SIMD-0256 raised the compute limit from 50 million to 60 million in July 2025, roughly a year before SIMD-0286 landed.
Supporting that foundation is a separate network improvement: over 70% of Solana validators have now adopted XDP networking. XDP is a low-level packet processing framework that reduces networking overhead significantly. Having that base in place before expanding block capacity is the kind of sequencing that prevents upgrades from creating new bottlenecks elsewhere in the stack.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
In This Article Morgan Stanley Crypto News: What do MSSE and MSOL Actually Offer?How This Fits Morgan Stanley's Broader Crypto Build-OutWhat It Means for SOL and ETH Morgan Stanley Investment Management has launched two new exchange-traded products tracking Ether and Solana, both with staking rewards passed directly to investors, a first in the crypto ETP space.
This extends a crypto push that began with its Bitcoin fund in April 2026. The move makes Morgan Stanley one of the first major US commercial banks to bring yield-bearing crypto exposure into regulated, exchange-listed wrappers.
These ETPs went live just as SOL and ETH are trading up +1% and +1.6% in the past 24 hours, respectively. ETH is sitting at $1,910, just above support at $1,900, while SOL is at $73.80, holding onto its support level at $70.
BREAKING: Morgan Stanley launches a Solana ETP, $MSOL, on NYSE Arca.
Their first crypto ETP pulled $381M in months. SOL now sits inside a $14B product suite, staked, with every reward passed to investors. pic.twitter.com/WQjmEKnxpE
— Solana (@solana) July 28, 2026
Morgan Stanley Crypto News: What do MSSE and MSOL Actually Offer? The Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL) each carry a 0.14% expense ratio.
Both funds intend to stake a portion of their holdings, with all staking rewards flowing through to investors. Morgan Stanley said it will not retain any portion of the staking rewards earned by either fund, a notable commitment at a time when fee and yield structures vary widely across competing products.
Staking, in plain terms, means locking up a share of your ETH or SOL to help validate transactions on the Ethereum and Solana proof-of-stake networks and earn protocol-level rewards in return. Those rewards, rather than being pocketed by the fund manager, are passed to shareholders.
For investors tracking Ethereum’s near-term price trajectory, institutional demand of this scale adds a structural demand signal on top of existing spot ETF flows.
BREAKING: Morgan Stanley Investment Management (MSIM) launches Ethereum Staking ETP.
MSIM, which manages ~$2 trillion in total AUM, has launched the Morgan Stanley Ethereum Trust (MSSE).
0.14% expense ratio, with an expected 95% of staking rewards passed to investors. pic.twitter.com/1flhuyMtV1
— Ethereum Institutional (@ethereuminsti) July 28, 2026
How This Fits Morgan Stanley’s Broader Crypto Build-Out The Ether and Solana ETPs follow the Morgan Stanley Bitcoin Trust (NYSE Arca: MSBT), which launched in April 2026 and had accumulated more than $381M in assets under management as of July 16, according to the company.
That Bitcoin fund carried the same 0.14% expense ratio, positioning the entire suite as a low-cost alternative to incumbents like Grayscale. Earlier in July, Morgan Stanley also rolled out spot cryptocurrency trading on its E*TRADE platform via a partnership with crypto infrastructure provider Zero Hash.
This gives eligible retail clients direct access to Bitcoin, Ether, and Solana. The ETP launches and the trading platform together suggest a coordinated strategy rather than a one-off product decision.
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What It Means for SOL and ETH $SOL – D1
Very disappointing development for SOL too.
At must hold/bounce or kekusmaximusRIPus.
Likely better to wait for a reclaim of D1 100 MA to chase gap to D1 200 EMA. Personally have a running position that I'll cut if unable to reclaim 74/76 area. https://t.co/jyN8mrpUSL pic.twitter.com/MhugXpaoeV
— Pierre (@pierre_crypt0) July 28, 2026
For Solana, an institutional product that systematically stakes holdings removes supply from active circulation, creating a slow but consistent demand floor. Traders watching for a SOL break above the $80 level will now have an additional institutional catalyst to factor into their analysis.
The competitive pressure on fees is equally significant. At 0.14%, Morgan Stanley’s products undercut many existing crypto ETPs, and the firm’s network of roughly 19,000 financial advisers gives it a distribution advantage that most crypto-native asset managers cannot match, according to background research on the filings.
The central question going forward is whether AUM growth in MSSE and MSOL tracks or outpaces the Bitcoin Trust’s $381 million ramp – and whether sustained inflows translate into ETH and SOL outperforming other large-cap crypto assets over the next several quarters.
EXPLORE: Best Crypto Presales With Asymmetric Upside in the Current Market
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OpenAI CEO expresses support for the AI security bill.
Market news: OpenAI CEO Sam Altman spoke to reporters after meeting with US Republican Senator Ted Cruz. The two sides discussed new artificial intelligence models, with Altman expressing support for an AI safety bill, though he did not disclose specific details.
7 minutes ago
US media reports: Republicans begin considering raising the debt ceiling again as midterm elections approach.
According to Politico, U.S. Republicans raised the debt ceiling by $5 trillion last year. Now, they are already considering how to avoid falling back into a "fiscal cliff" during Trump’s term. Independent forecasting agencies project that the U.S. will reach "X Date"—the final deadline to avert a U.S. debt default—between next summer and early 2028, a period that coincides with the intensification of the presidential primary season. Two sources familiar with the matter said that to avoid high-stakes negotiations with Democrats, White House officials have privately proposed raising the U.S. debt ceiling of $41.1 trillion via a partisan spending bill that many Republicans hope to pass ahead of the November midterm elections. If Republicans lose control of either chamber of Congress in the upcoming midterms, this move could save Trump significant trouble, as Democrats will in any case demand concessions in bipartisan negotiations to prevent an unprecedented national debt default—with the total national debt currently nearing $39.7 trillion.
7 minutes ago
The token Shandi has fallen below the 1,000 yuan mark, logging a cumulative drop of over 50% in the past month.
According to market data from BIT (bit.com), the crypto asset Shan Di fell below the $1,000 threshold during intraday trading, posting an 8.4% intraday decline and a cumulative drop of over 50% in the past month.
7 minutes ago
Bank of America: Seven Ongoing Risks Plague AI and Semiconductor Sector Stocks
Bank of America’s report flags seven persistent risks for stocks in the AI and semiconductor sectors, detailed below: 1. Hardware trading has turned into a "tourist trade" — even medical tour groups are discussing SNDK. Late buyers of MU may still face a washout, while sharp daily volatility is forcing committed bulls to exit positions. 2. Good news no longer moves markets. TSM, ASML, and INTC have declined even after reporting strong earnings, with intraday rebounds consistently met by selling pressure. Capital expenditure cuts by large-scale players will harm AI suppliers, while hikes will pressure free cash flow; financing activities are also stoking funding concerns. Ordinary upside surprises may no longer be enough to drive gains. 3. Investors are bearish on AI labs but still bullish on their infrastructure. Spending by OpenAI and Anthropic is already embedded in suppliers’ backlogs and financial data. Open-source weighted models may eventually boost compute demand, but the transition process is unlikely to be smooth. 4. Token deflation is a double-edged sword. Cheaper tokens can accelerate adoption but will also compress lab profits and intensify hardware and power optimization efforts. More compute power does not automatically translate to higher profits for every supplier. 5. Memory sector estimates may need to be revised downward. Lower valuation multiples alone may not suffice; stocks that appear cheap based on unrevised projections may not actually be undervalued. 6. Credit has entered the stock market debate. Financing for the entire ecosystem has become a "trillion-dollar game of chicken". 7. The sector’s ongoing correction may stem from position and factor adjustments rather than a single fundamental breakdown. Investors will later apply narratives around open-source models, ROI, financing, and optimization to price movements.
7 minutes ago
Coinbase to list GRVT, with deposits set to open once the project team unlocks transfers.
Coinbase announced it will list Grvt (GRVT). Users can now generate GRVT deposit addresses on Coinbase’s official website, mobile app, and Coinbase Exchange in supported regions, though deposit functionality will be activated only after the project team unlocks token transfers.
Prominent crypto influencer Ansem is more optimistic about digital assets than at any point in his career as he argues that improving infrastructure, mobile adoption and on-chain innovation are laying the foundation for the next cycle.
Speaking with crypto commentator Thread Guy in an interview on July 28, Ansem said speculation remains crypto’s biggest strength, while predicting traders will increasingly become the next generation of financial influencers.
Ansem said the current market resembles previous cycle bottoms, where sentiment remained overwhelmingly bearish despite steady improvements beneath the surface.
“I’ve never been this bullish on crypto in my entire life,” he said.
Unlike previous cycles, Ansem argued that crypto is benefiting from major advances in mobile applications, stablecoin infrastructure and regulatory clarity while AI is making it easier than ever for developers to build products.
He said crypto offers startups a faster path to liquidity than traditional venture capital, making blockchain networks an increasingly attractive place to launch new businesses.
Ansem pointed to projects such as Robinhood Chain as an example of crypto evolving beyond infrastructure into consumer-facing products.
Meme Coins Still MatterWhile institutional investors increasingly focus on tokenization and real-world assets, Ansem said speculation remains crypto’s competitive advantage.
He compared blockchain ecosystems to cities that need both financial institutions and entertainment businesses.
"You can’t shut down all the bars, clubs and casinos because you don’t like them,” he said, arguing that meme coins help attract users and liquidity that ultimately benefit broader blockchain ecosystems.
Rather than viewing speculation as harmful, Ansem said it has historically driven adoption throughout crypto.
Bitcoin, Solana And The Bigger PictureDespite lingering macro uncertainty, Ansem said Bitcoin (CRYPTO: BTC) continues to resemble digital gold and expects institutional demand to remain supportive.
He also reiterated his long-term optimism toward Solana (CRYPTO: SOL), saying consumer adoption and improving on-chain applications continue to strengthen the ecosystem.
Looking beyond price action, both Ansem and Thread Guy argued crypto activity is picking up again after months of stagnation, citing renewed experimentation across decentralized finance, tokenized assets and mobile trading.
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MoonPay has launched PayBox, a payment vault that allows users to execute crypto transactions and online purchases through conversations with ChatGPT and Claude.
Users can connect PayBox to either AI platform through a custom connector and describe transactions using natural language. The assistant then researches and prepares the transaction before executing it under permissions established by the user.
Supported actions include purchasing crypto with fiat, swapping tokens, bridging assets between networks, depositing funds into decentralized finance protocols, booking flights and making restaurant reservations.
Users can choose between two permission models. Always Ask requires passkey approval for every transaction, while Autonomous allows the AI assistant to operate within spending limits and rules selected by the user.
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Changing those permissions requires a new passkey authorization. Each approval is limited to one specific action and expires after it is used, preventing the authorization from being reused for another transaction.
PayBox supports Solana alongside EVM compatible networks including Ethereum, Hyperliquid, Tempo, Base, Robinhood Chain, Arbitrum and Polygon.
The vault also integrates with x402, an open payment standard that allows AI agents to pay services capable of accepting agent initiated transactions. MoonPay said initial integrations support travel bookings, restaurant reservations and purchases from major online retailers.
PayBox can work with both crypto wallets and payment cards. Wallet keys are divided through multiparty computation and stored across secure hardware environments, meaning neither MoonPay nor the AI assistant can independently access the complete private key or authorize transactions.
Card transactions use Visa’s agentic commerce protocol, which allows the AI to complete payments without accessing or storing the underlying card number.
The security infrastructure is based on technology developed by Sodot, a key management company acquired by MoonPay earlier this year. MoonPay said Sodot’s infrastructure secures more than $50 billion in assets and over 10 million wallets.
MoonPay describes PayBox as noncustodial because users maintain control of their assets and neither the company nor the connected AI assistant can unilaterally move funds. The product is now live through the PayBox website.
Term Structure
Contract Odds Δ since publish Volume 24h August 1 2026 1.2% +0.4¢ $5K View market → August 1 2026 0.1% 0.0¢ $70 View market → August 1 2026 0.1% 0.0¢ — View market → August 1 2026 0.2% 0.0¢ $1K View market → August 1 2026 0.1% -0.1¢ $977 View market → August 1 2026 0.1% 0.0¢ — View market → August 1 2026 0.1% -0.1¢ $1K View market → August 1 2026 0.1% -0.1¢ $652 View market → August 1 2026 0.9% 0.0¢ $16K View market → August 1 2026 0.1% 0.0¢ $1K View market → August 1 2026 0.1% 0.0¢ — View market → August 1 2026 0.1% 0.0¢ — View market → August 1 2026 38% +10.5¢ $7K View market → August 1 2026 0.1% 0.0¢ $1K View market → August 1 2026 0.1% 0.0¢ — View market → Updated 6min ago
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
The loudest conversation in crypto right now isn’t about spot Bitcoin ETFs or the next memecoin launch. It’s about derivatives—and specifically, perpetual futures. In a column published Wednesday, Jito Foundation president Brian Smith laid out an argument that perps are not just another DeFi primitive but the most direct conduit for traditional finance to move on-chain. The original report framed the push in stark terms: a battleground that Solana cannot afford to lose.
The logic is straightforward. Perpetual futures resemble the total-return swaps and rolling futures contracts that institutional desks have traded for decades. Unlike fixed-expiry futures, they don’t require constant roll management. For a hedge fund or proprietary trading firm accustomed to centralized venues, perps are the easiest crypto-native product to understand and the hardest to ignore.
Why Perps Are a Familiar Handshake for Wall Street Spot crypto markets remain volatile, fragmented, and custody-intensive in ways that deter many traditional participants. Perps, by contrast, allow directional exposure without touching the underlying asset. Market makers already use off-exchange settlement models that mirror on-chain perp mechanics. Jito’s thesis is that if the plumbing is right—low latency, deep liquidity, predictable fees—the capital will follow.
That’s where Solana enters. The network’s sub-second finality and negligible transactions costs have turned it into the fastest-growing venue for perpetual trading. Jito’s own MEV infrastructure, which reduces harmful frontrunning while boosting validator revenue, addresses a pain point that has historically scared off professional traders on other chains.
Solana’s Infrastructure Edge Over the past year, Solana-based perp protocols have quietly absorbed a rising share of global derivatives volume. The network’s top validators now include firms that specialize in low-latency execution for high-frequency strategies. Jito’s liquid staking and block-building software give those traders a more predictable execution environment than they’d find on most other blockchains, including Ethereum’s fragmented layer-2 landscape. That predictability is pivotal—it blurs the line between a decentralized exchange and a traditional electronic trading venue.
Still, technology alone doesn’t win. The broader momentum around on-chain finance is pulling in the same direction. Tokenized Treasuries, credit protocols, and real-world assets have collectively crossed $20 billion in on-chain value, as detailed in the latest tokenization roundup. Those assets are not held for speculation; they represent genuine yield-seeking capital that starts to look a lot like traditional fixed-income markets.
Regulatory Strains Beneath the Optimism For all the enthusiasm, the path from perps to institutional adoption runs through Washington. Lawmakers are currently negotiating a sweeping crypto market-structure bill that banks are trying to water down just days before a Senate vote, as this legislative update shows. If the final rules fail to provide clear definitions for decentralized derivatives platforms, the entire thesis gets pushed further into the future. Uncertainty about whether certain perp protocols could be classified as unregistered swap execution facilities remains an open question that institutional capital allocators cannot ignore.
Even so, the developer community on Solana hasn’t blinked. The network consistently ranks among the top three blockchains by weekly developer commits, staying ahead of several rollup-centric chains, according to the developer activity rankings. That kind of sustained builder attention suggests the ecosystem isn’t just a short-term trading venue—it’s accumulating the tooling that institutional desks will eventually require.
What Remains Unsettled What’s less clear is whether perpetual futures alone are enough to tip the balance. Competing layer-1 networks and Ethereum’s rollup ecosystem are also building bespoke derivatives infrastructure. Liquidity is still thin in several Solana perp markets during off-peak hours. And the jump from a sophisticated crypto-native trading firm to a large multi-strategy fund with compliance obligations is far bigger than a few milliseconds of latency improvement.
Jito’s framing is correct in one critical sense: the product that matters most for institutional onboarding may not be a spot ETF or a stablecoin, but a derivative instrument that Wall Street already buys and sells every day. If Solana can turn that battleground into a genuinely institutional-grade market, it won’t just win a chain-versus-chain rivalry. It will have done something no blockchain has yet achieved—make DeFi feel like finance.
AUTHOR
Freelance writer and crypto enthusiast with a focus on Web3, delivering clear and engaging articles. Known for his well-researched articles and insightful analysis, Shayan covers a broad range of topics including market trends, blockchain technology, decentralized finance (DeFi), and emerging crypto projects. His writing aims to educate both beginners and experts, providing clear, engaging content that helps readers stay informed about the fast-evolving crypto space. Shayan's expertise and dedication make him a trusted voice in the blockchain community.
OpenAI CEO expresses support for the AI security bill.
Market news: OpenAI CEO Sam Altman spoke to reporters after meeting with US Republican Senator Ted Cruz. The two sides discussed new artificial intelligence models, with Altman expressing support for an AI safety bill, though he did not disclose specific details.
7 minutes ago
US media reports: Republicans begin considering raising the debt ceiling again as midterm elections approach.
According to Politico, U.S. Republicans raised the debt ceiling by $5 trillion last year. Now, they are already considering how to avoid falling back into a "fiscal cliff" during Trump’s term. Independent forecasting agencies project that the U.S. will reach "X Date"—the final deadline to avert a U.S. debt default—between next summer and early 2028, a period that coincides with the intensification of the presidential primary season. Two sources familiar with the matter said that to avoid high-stakes negotiations with Democrats, White House officials have privately proposed raising the U.S. debt ceiling of $41.1 trillion via a partisan spending bill that many Republicans hope to pass ahead of the November midterm elections. If Republicans lose control of either chamber of Congress in the upcoming midterms, this move could save Trump significant trouble, as Democrats will in any case demand concessions in bipartisan negotiations to prevent an unprecedented national debt default—with the total national debt currently nearing $39.7 trillion.
7 minutes ago
The token Shandi has fallen below the 1,000 yuan mark, logging a cumulative drop of over 50% in the past month.
According to market data from BIT (bit.com), the crypto asset Shan Di fell below the $1,000 threshold during intraday trading, posting an 8.4% intraday decline and a cumulative drop of over 50% in the past month.
7 minutes ago
Bank of America: Seven Ongoing Risks Plague AI and Semiconductor Sector Stocks
Bank of America’s report flags seven persistent risks for stocks in the AI and semiconductor sectors, detailed below: 1. Hardware trading has turned into a "tourist trade" — even medical tour groups are discussing SNDK. Late buyers of MU may still face a washout, while sharp daily volatility is forcing committed bulls to exit positions. 2. Good news no longer moves markets. TSM, ASML, and INTC have declined even after reporting strong earnings, with intraday rebounds consistently met by selling pressure. Capital expenditure cuts by large-scale players will harm AI suppliers, while hikes will pressure free cash flow; financing activities are also stoking funding concerns. Ordinary upside surprises may no longer be enough to drive gains. 3. Investors are bearish on AI labs but still bullish on their infrastructure. Spending by OpenAI and Anthropic is already embedded in suppliers’ backlogs and financial data. Open-source weighted models may eventually boost compute demand, but the transition process is unlikely to be smooth. 4. Token deflation is a double-edged sword. Cheaper tokens can accelerate adoption but will also compress lab profits and intensify hardware and power optimization efforts. More compute power does not automatically translate to higher profits for every supplier. 5. Memory sector estimates may need to be revised downward. Lower valuation multiples alone may not suffice; stocks that appear cheap based on unrevised projections may not actually be undervalued. 6. Credit has entered the stock market debate. Financing for the entire ecosystem has become a "trillion-dollar game of chicken". 7. The sector’s ongoing correction may stem from position and factor adjustments rather than a single fundamental breakdown. Investors will later apply narratives around open-source models, ROI, financing, and optimization to price movements.
7 minutes ago
Coinbase to list GRVT, with deposits set to open once the project team unlocks transfers.
Coinbase announced it will list Grvt (GRVT). Users can now generate GRVT deposit addresses on Coinbase’s official website, mobile app, and Coinbase Exchange in supported regions, though deposit functionality will be activated only after the project team unlocks token transfers.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Morgan Stanley Investment Management, the asset management arm of the eponymous financial services giant, entered the Solana Spot ETF race yesterday, July 28, with the launch of the Morgan Stanley Solana Trust ($MSOL) on NYSE Arca. The firm also launched the Morgan Stanley Ethereum Trust ($MSSE) on the same day.
The fund charges a 0.14% expense ratio, making it the lowest-cost Solana ETF in the U.S. market.
The launch also expands Morgan Stanley Investment Management's ETF and ETP platform, which now includes 22 products with more than $14 billion in assets under management. The firm's digital asset lineup now covers $BTC, $ETH, and $SOL after launching the Morgan Stanley Bitcoin Trust earlier this year.
$MSOL’s Strong First Day Trading $MSOL recorded roughly $19 million in trading volume during its first day, with 951,216 shares changing hands.
Like its competitors, the ETF integrates staking from launch. Morgan Stanley intends to stake up to 100% of the fund's $SOL holdings, although that allocation may vary. Investors will receive an anticipated 95% of staking rewards, while Morgan Stanley will not retain any share of those rewards. Institutional staking provider Figment will supply staking services for the new fund.
Bloomberg Senior ETF Analyst Eric Balchunas described the launch as one of the most significant developments for spot ether and Solana ETFs since the initial wave of crypto ETFs.
He noted that Morgan Stanley's 16,000 financial advisors oversee roughly $7 trillion in client assets, giving the firm's products access to one of the largest wealth management networks in the world. Balchunas also pointed out that the firm's 0.14% fee immediately made both $MSOL and $MSSE the cheapest funds in their respective categories, while highlighting that Morgan Stanley plans to pass 100% of staking rewards back to ETF investors.
"Digital assets are becoming an increasingly important component of diversified investment portfolios. As client interest in digital assets continues to grow, we’re focused on providing a range of digital asset solutions that allow investors to diversify their portfolios across traditional and decentralized asset classes while also adhering to Morgan Stanley’s standards for governance, infrastructure and risk management." - Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley
Competition Intensifies on Fees Morgan Stanley's aggressive pricing arrived as competition among Solana ETF issuers continues to increase.
On July 27, 21Shares announced a 12-month sponsor fee waiver for its Solana ETF (TSOL). Beginning July 28, the fund reduced its fee from 0.21% to 0.00%, temporarily making it the lowest-cost Solana ETF in the United States until July 28, 2027.
The U.S. Spot Solana ETFs are sorted by their fees in the table below:
Mixed Signals Across the Solana ETF Market Bitwise CEO Hunter Horsley also highlighted another milestone yesterday, announcing that one of the world's largest wealth management firms had made the Bitwise Solana Staking ETF available to its advisors and clients. He described the move as another sign that Solana continues to move further into mainstream finance.
Despite that announcement and Morgan Stanley's debut, U.S. spot Solana ETFs collectively recorded $18.07 million in net outflows on July 28. All outflows came from Bitwise's $BSOL, marking the largest single-day outflow from U.S. spot Solana ETFs in 8 months. The last time a larger outflow occurred was on December 3, 2025, when investors withdrew $32.19 million.
Unless U.S Spot Solana ETFs see some humongous inflows before the end of the week, July would mark a second consecutive month with net outflows since the $786,580 netted in June.
Read More on SolanaFloor Solana Block Capacity Up 66% Following SIMD-0286 Activation
Bulk Trade Launches BIP-1 With Near-Zero Cost To Deploy Perp Markets
Aurora Labs has launched native cross-chain funding for Solflare wallets through Aurora Intents, allowing users to move assets from Bitcoin, Ethereum and other leading blockchains directly into Solana without interacting with traditional bridge interfaces.
Aurora Intents is powered by NEAR Intents, which settles more than $23 billion in total transaction volume and processes over $2.3 billion each month.
The integration introduces permanent deposit addresses for each supported blockchain and token. According to the projects, users simply transfer assets to the assigned address, while Aurora Intents automatically manages cross-chain routing, liquidity sourcing and token conversion using NEAR Intents infrastructure before delivering assets to Solflare.
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Aurora Labs says transfers from Ethereum-based networks generally complete in under one minute, while Bitcoin deposits take about 14 minutes.
The initial release supports Bitcoin, Ethereum, Arbitrum, Base, Polygon, BNB Chain, Tron and NEAR. SOL and stablecoins are the primary destination assets, with additional tokens supported depending on liquidity availability.
The platform charges a 0.1% fee for stablecoin transfers and 1% for other assets, although all deposits will be fee-free during the first month after launch, subject to a combined $125,000 fee waiver.
Aurora Labs said replacing bridge applications with reusable deposit addresses removes one of crypto’s biggest onboarding friction points.
“Bridging has always carried too much anxiety — too many steps, too much that can go wrong. We chose Aurora Intents because its intent-based model removes all of that: you state what you want on Solana, and you receive the real token, on one permanent address for each source-chain-and-token pair that you can reuse forever. No dApp to connect, no wrapped assets,” Vidor Gencel, co-founder and co-CEO of Solflare, stated.
“We think this turns the hardest part of getting onto Solana into something as simple and trusted as a send — and makes Solflare the natural gateway to Solana for funds flowing in from every major chain,” he added.
Solflare said the approach provides users with a simpler and more trusted way to bring assets into the Solana ecosystem.
“Exchanges trained users to copy a deposit address and send funds, and Aurora Intents now brings that same action to a self-custodial wallet,” Declan Hannon, CEO of Aurora Labs, noted. “Apps lose users at the funding step, and most of those users already hold assets somewhere else. Aurora Intents turns that into a deposit address, and both the funds and the users arrive on Solana.”
The rollout follows continued growth across the Solana ecosystem, where monthly active addresses rose approximately 50% during Q1 2026. Solflare currently has more than 4 million active users and over $15 billion in assets under self-custody.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
The bank tied the stablecoin's first live settlements to real-time commercial payments running through its Big Business Banking platform on Solana.
SoFi Technologies, the digital bank with 15.8 million members, said commercial clients have begun settling transactions in real time through its SoFiUSD stablecoin, according to the company's second-quarter results published Wednesday.
The milestone moves SoFiUSD from launch announcement to production payments rail seven months after SoFi became the first nationally chartered U.S. bank to issue a stablecoin on a public blockchain. Big Business Banking, the enterprise product SoFi introduced this year, began processing transactions on the SoFi Exchange Network during the quarter, "enabling commercial clients to move money in real time, 24/7 through SoFiUSD," the company said in the release.
Crypto Transaction RevenueThe quarter also gave the first clean read on the economics of SoFi's crypto relaunch. Crypto transaction revenue came in at $134.3 million for the quarter, but after $133.1 million in costs, net crypto revenue was $1.2 million. SoFi returned to crypto investing with the launch of SoFi Crypto in the fourth quarter of 2025.
SoFi launched SoFiUSD in December, pitching it as settlement infrastructure for other banks, fintechs and enterprise platforms rather than a consumer token. In March, the company said the stablecoin was set to be enabled as a settlement option across Mastercard's global payments network, and it opened SoFiUSD to its full membership in June. Wednesday's disclosure is the first confirmation that enterprise clients are actually settling on the rail.
Record Quarter, Cold ReceptionThe stablecoin update came inside a record quarter. Adjusted net revenue reached $1.2 billion, up 40% year over year, and net income climbed 61% to $156.6 million, with loan originations hitting a best-ever $14.8 billion. SoFi raised its full-year guidance.
Investors sold the news anyway: SOFI fell about 10% to around $15 in Wednesday morning trading, according to Google Finance data, extending a slide that has the stock roughly 50% below its 2026 highs.
The MSSE and MSOL trusts each charge a 0.14% expense ratio and will stake a portion of holdings, passing rewards to investors.
Morgan Stanley Investment Management launched the Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust on NYSE Arca, spot exchange-traded products that will stake portions of their holdings, the firm said in a press release published Tuesday.
The launch deepens the first crypto ETP franchise from a major U.S. bank-affiliated asset manager, and the staking feature puts Morgan Stanley ahead of most incumbents on yield: both funds intend to stake a portion of their ether or SOL, and MSIM said it will not keep any of the rewards for itself.
The trusts, trading under MSSE and MSOL, each charge a 0.14% expense ratio and track the CoinDesk Ether and Solana Benchmark 4PM NY Settlement Rates. They follow the Morgan Stanley Bitcoin Trust, which launched earlier this year as the first cryptocurrency ETP from a U.S. bank-affiliated asset manager and held more than $381 million in assets through July 16, according to the release.
"The addition of MSSE and MSOL reflects the natural evolution of our product suite, which seeks to provide simplified access to digital assets through the ETP wrapper," Ally Wallace, global head of ETFs for Morgan Stanley Investment Management, said in the release.
Ether rose 0.7% and SOL 0.4% in the past 24 hours, both trailing Bitcoin's 1.3% gain, according to CoinGecko.
Staking From Day OnePassing through staking rewards at launch separates the products from the first wave of U.S. spot crypto funds, which added staking only after regulatory treatment loosened. The 0.14% fee undercuts most established spot ether products and sits near the floor of the category.
"As client interest in digital assets continues to grow, we're focused on providing a range of digital asset solutions that allow investors to diversify their portfolios across traditional and decentralized asset classes while also adhering to Morgan Stanley's standards for governance, infrastructure and risk management," Amy Oldenburg, head of digital asset strategy at Morgan Stanley, said in the release.
MSIM's ETF and ETP lineup, launched in 2023, has grown past $14 billion in assets across 22 products, including the three digital asset trusts, per the release. For a wealth management giant whose advisors spent years restricted from soliciting crypto products, the in-house suite now spans the three largest proof-of-stake and proof-of-work assets by market capitalization.
PhoenixTrade, the perpetual futures DEX built on Solana by Ellipsis Labs, has crossed $10 million in open interest for the first time. Reports indicate the figure climbed as high as $11 million, representing a roughly 25% jump from its previous all-time high of $8.8 million set just weeks earlier in June 2026.
What’s driving the surge PhoenixTrade launched its “Flight Club” incentive program on July 27-28, just a day or two before the open interest milestone landed. The program allocates $420K in USDC rewards over 28 days, distributed based on trading volume, open interest held, and referrals.
The incentive launch also coincided with Phoenix crossing $1 billion in cumulative unincentivized perpetual trading volume.
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According to DeFiLlama data, PhoenixTrade’s cumulative perpetual volume sits around $917 million, with roughly $163 million in 30-day trading volume and approximately $67 million in 24-hour volume.
The architecture advantage PhoenixTrade’s technical pitch centers on what it calls a “crankless” fully on-chain order book. Traditional on-chain order books require external actors, called cranks, to process and match orders. Phoenix eliminates that intermediary step. The practical result: gasless trading and transaction fees of roughly 0.005%.
Solana’s perps landscape is getting crowded PhoenixTrade’s milestone is happening in a Solana ecosystem that includes perps competitors Jupiter, Drift Protocol, and Zeta Markets. Hyperliquid, which runs its own L1, has become the benchmark that every on-chain perps platform gets measured against, with open interest regularly sitting in the billions compared to PhoenixTrade’s $10-11 million.
The $420K Flight Club program runs for 28 days. The real test comes after the rewards stop flowing.
What this means for investors Incentive programs like Flight Club can create artificial volume spikes that collapse once rewards dry up. If PhoenixTrade’s open interest drops back below $8 million after the 28-day program ends, it would suggest the milestone was more sugar rush than structural growth.
PhoenixTrade’s 0.005% fee structure leaves very little room to go lower, which means the protocol needs to win on volume and user experience rather than further fee cuts.
Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.
A rise to $160 or a double-digit collapse: what comes next for SOL?
Solana’s native token has been underperforming during the persistent bear market, but some analysts view the current levels as great buying opportunities.
Others believe the asset is at a critical turning point, suggesting that a further 30% crash is not out of the question.
More Bleeding? SOL has been in a major decline lately, with X user WIZZ noting that it has logged nine consecutive red months and is at risk of closing a tenth – something unseen in its history. Ivan on Tech said people should respect the trend and take it as a warning that the price could slip further in the near future.
As of this writing, it trades at around $74 or very close to the $73.75 mark, which the popular analyst Ali Martinez labeled a “make-or-break” moment. He outlined that more than 50 million SOL were bought around that level, making it the most critical support on the map. Martinez thinks that a sustained close under the key zone might trigger additional selling pressure, with $60 becoming the next major downside target.
“Below that, there is little meaningful support until $50,” he added.
Shortly after, the analyst claimed that SOL has lost its rising channel, arguing that if bears maintain control, the price could move south toward $60.
The waning institutional interest also signals that the token may experience a further pullback. SoSoValue’s data show that spot SOL ETFs remain unattractive to pension funds, hedge funds, and other investors. In fact, the daily total net inflow for July 28 dropped to -$18.07 million, the largest single-day red candle since December last year.
Spot SOL ETFs, Source: SoSoValue Time to Buy? Others remain predominantly optimistic despite the ongoing depression. X user Crypto Zenkai opined that buying SOL at its current level below $80 is like investing in BTC in 2010. Their post drew mixed reactions, with many commentators saying the comparison was inappropriate.
You may also like: Solana (SOL) FUD Hits 2026 High: Why It Could Be a Bullish Twist Why Capital Is Flowing Into XRP, SOL, and HYPE Instead of BTC and ETH Here’s How Deeply Underwater Corporate Crypto Bets Have Become After Latest Crash Lucky is also among the bulls. The X user, who has almost 2 million followers, first wondered whether SOL’s plunge under $75 is “a juicy dip” that could be followed by a potential rally to roughly $160. Later on, the analyst called the asset a “go-to pick” for the next six months, grouping it together with ETH, LINK, TAO, and SUI.
@Solflare has officially launched Bridge, a native cross-chain feature built to remove the friction that has long made moving assets onto @Solana more cumbersome than it should be. The product is powered by @Near_intents and @Auroraisnear, and it is live now.
How It Works The core mechanic is straightforward. Bridge assigns users permanent deposit addresses for assets held on $ETH, $BTC, and @Base. Funds sent to those addresses arrive in a Solflare wallet as $SOL or $USDC, with no manual approvals and no need to connect a separate dApp. The goal is a single-step experience that feels closer to a standard transfer than a multi-chain operation.
The infrastructure behind it is @Near_intents, a protocol that has been expanding its footprint quickly across the industry. Rather than routing assets through a conventional bridge, NEAR Intents lets users express a desired outcome without needing to understand the underlying execution mechanics. That request is distributed to a network of solvers, including market makers and AI agents, who compete to fulfil it. Initial matching happens off-chain in as little as 100 milliseconds. The protocol has now processed more than $13 billion in all-time volume across 35-plus chains.
@Auroraisnear, an EVM-compatible environment running on NEAR Protocol, provides the EVM compatibility layer that allows the system to interact with Ethereum-based assets and chains.
Fees and Launch Incentives To mark the rollout, Solflare is running a 30-day fee waiver worth up to $125,000 in potential savings for early users. Once the promotional period ends, standardised fees will apply: 0.1% for stablecoin-to-stablecoin transfers and 1% for all other assets. The fee structure is designed to support a high-velocity retail settlement model as the protocol scales.
The launch adds Solflare to a growing list of wallets and applications integrating NEAR Intents directly into their products. Wallets and trading apps using NEAR Intents are already handling around $2.5 billion in monthly volume. For Solana, which has historically been one of the harder networks to bridge into cleanly, the integration represents a meaningful improvement in onboarding experience for users coming from Ethereum or Bitcoin.
Sources:
NEAR Intents and Solana Integration, Solana Compass
NEAR Intents, Official Site
NEAR Intents Joins Ledger Wallet, Ledger Blog
SpaceX Falcon Heavy Launch of Europa Clipper in 2024 (Getty Images/Brandon Moser)SpaceX’s initial public offering last month was a headline-grabber for any number of reasons. As one of the largest IPOs ever, it briefly made founder Elon Musk the world’s first trillionaire (and, a few days later, the first multi-trillionaire); it’s among the first of the major AI labs to go public; it debuted as one of the largest companies in the world, forcing new FAANG-like acronyms.
For stalwart veterans of the crypto trenches, however, it’s important for a different reason: it gave Solana and Hyperliquid, two of the places where SpaceX tokenized stocks and perps are most actively traded, fertile ground to fight over in the form of billions in perpetual futures (or “perps”) and tokenized stock volume, with both leading ecosystems scrambling for a slice of the trading pie.
Brian Smith is the president of the Jito Foundation, which supports the Solana network's execution infrastructure and liquid staking ecosystem.
The Solana ecosystem is no stranger to debating it’s the best home to create the future of internet capital markets. Perpetual futures and tokenized stocks have been Solana's latest battleground, and for good reason. The current landscape is staggeringly profitable, but underneath the gaudy revenues driven by trading fees there’s an even more important adoption trend worth crossing swords over.
The single most bullish trend of 2026 for crypto has been traders turning to onchain derivatives platforms during the conflict with Iran. During this period onchain platforms became the venue where gold and crude oil were being repriced in real time while CME was closed. If Internet Capital Markets are going to come to pass, that eventually involves onboarding a class of users that, until perps, were reluctant, unable, or did not see the point in operating in crypto environments.
Right now they're coming to crypto venues on Sundays. Soon it will be the whole week.
Put differently: perps are a trojan horse to bring all of traditional finance onchain. The current fees and users are an inarguable prize, but more important could be claiming the gateway that brings the rest of the system and its many trillions with them. Whoever wins the battle for Sunday volume might just win the whole war.
It's been an especially buzzy adoption cycle, as onchain platforms have become the site of early trading first for Nasdaq-listed equity of the AI chipmaker, Cerebras Systems and now SpaceX. What's especially striking is that volume and participation were deep enough that these venues actually contributed to price discovery, meaning traders had a good idea of what the stock would likely trade at during its initial public offering. In fact, Cerebras Systems stock opened within 3% of its perps-implied price, and likewise SpaceX, with the implied perps price of $171 nearly perfectly matching the initial launch price, also at $171.
Now, there’s a case to be made that perps are just one crypto product among many — not an existential battleground. The winning chain will eventually become home for the vast majority of trading activity across spot crypto assets, commodities, stocks, prediction markets, gambling, etc — anything and everything someone can do with money, not just niche derivatives like perps.
I'm sympathetic to this view. Perps tend to be a product with low user counts driving high volume — hardly the portrait of global financial adoption. But this criticism obscures a bigger issue: however niche they may be, these derivatives are a leading force in bringing TradFi traders onchain.
The Cerebras Systems and SpaceX listings follow a period of months where the volume of RWAs onchain has been steadily multiplying, and traditional financial press has been covering how crypto derivatives platforms now allow traders to price commodities outside of market hours — weekends, holidays, and the 4PM-to-9:30AM dead zone.
Solana already has the speed, throughput, and cost structure to support these markets. Solana handles more daily transactions than all other blockchains combined. There is no version of this argument where someone credibly claims Solana can't support high-frequency global derivatives trading. It obviously can. The gap is execution and focus. Hyperliquid has taken an early lead, not because they had better infrastructure, but because they were built specifically for derivatives traders. They shipped a product that was purpose-built for a specific user, and that specific user showed up.
The reality is that markets form where products are usable, liquid, and trusted, and not necessarily where infrastructure is strongest. CoinMarketCap is a graveyard of projects that hung their hats solely on technical advantages. Solana, despite its advantages, is not the default venue for this category, and that gap has been compounding.
Liquidity begets liquidity. Traders go where other traders already are. Every week that passes without a competitive Solana-native answer to the Hyperliquid trading experience is a week where the gravitational pull of the alternative gets harder to reverse.
Solana is winning on certain fronts, especially the recent launch of tokenized SpaceX stock trading on Solana venues representing a key win for the ecosystem, with [x.com]market commentators noting [x.com] that after the SpaceX IPO, 24-hour spot volume for tokenized stocks trading on Solana surpassed $100 million for the first time. This isn’t good enough, however, and Solana must win the battle for perps volume as well.
Tokenized commodities like SpaceX and macro derivatives are too important for Solana to lose. These markets represent real global demand — not crypto-native speculation, not memecoin volume, not another governance token no one asked for. Crude oil, gold, natural gas and pre-IPO equities are each trillion-dollar markets with existing participants who are actively searching for better venues. 24/7 access to these assets is a meaningful structural improvement over legacy markets, and where these markets form will determine where liquidity and price discovery concentrate for the next decade.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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Crypto Flows, Share and the Selective Rotation
Crypto Flows, Share and the Selective Rotation
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Jul 22, 2026
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Why it matters:
Markets repositioned since June, but Binance held share (~55% user funds, ~24% spot) and drew net inflows in early July while the tracked market saw outflows.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Large blockchain networks including Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) have recorded notable increases in on-chain activity and reductions in transaction costs over the past year, even as the prices of their native tokens experienced substantial declines.
This divergence between market prices and underlying network fundamentals was highlighted in Bitwise’s inaugural quarterly staking report covering the second quarter of 2026.
According to the analysis, Ethereum, Solana, and Avalanche tokens each dropped by approximately half or more compared to levels a year earlier. Yet usage metrics moved in the opposite direction.
Ethereum processed 203.9 million transactions in the quarter, up sharply from 121.1 million in the same period of 2025.
Average throughput rose from 15 to 26 transactions per second following an increase in the block gas limit.
At the same time, the average cost per transaction fell from about $1.08 to $0.31, while dollar-denominated network revenue declined 51 percent to roughly $64 million.
When measured in ETH terms, however, revenue actually increased for the first time in more than a year.Solana demonstrated similar resilience.
The network handled approximately 9.8 billion non-voting transactions, near all-time highs and above the 8.9 billion recorded a year earlier.
Transaction costs dropped dramatically from around three cents to half a cent, contributing to a steep decline in overall revenue from $272 million to $51 million.
Avalanche’s C-Chain saw the most dramatic growth in volume, processing 235.6 million transactions compared with just 58 million previously—an increase of roughly four times.
Costs per transaction plunged from about 2.7 cents to 0.14 cents, with revenue falling accordingly to $330,000.
Bitwise Head of Onchain Research Kam Benbrik described the pattern clearly: there has been a noticeable gap between network fundamentals and broader market sentiment.
Prices are lower than in 2025, yet blockchains are becoming both cheaper to use and more active.
The report attributes much of the fee reduction to deliberate protocol improvements that expanded available blockspace rather than any broad weakening of demand.
Staking participation remained robust across the networks.
Ethereum reached a record 40.2 million ETH staked, representing about 33 percent of total supply, driven largely by institutional inflows from staking ETFs, corporate treasuries, and other large holders.
High staking ratios were also observed elsewhere, with Solana near 68 percent and Avalanche around 41 percent.
Institutional engagement extended beyond staking.
Tokenized assets, real-world applications, and payments activity continued to expand on these chains.
Protocol roadmaps remain active, with upcoming upgrades aimed at further improving scalability and user experience.
The data suggest that lower token prices have not translated into reduced network utilization. Instead, greater efficiency and capacity appear to be supporting higher levels of activity at lower costs, pointing to underlying strength in the infrastructure even amid softer market conditions.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.
Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.
A Quantum Fix That Leaves Wallets UntouchedBlockchain security company AmericanFortress has unveiled a cryptographic scheme that it says could protect existing cryptocurrency wallets from future quantum attacks without requiring users to move funds, rotate keys, or change wallet addresses.
AmericanFortress released the technical paper for Zero-Knowledge Proof of Seed Provenance, or ZK-PoSP, through the International Association for Cryptologic Research's ePrint archive. The company describes the scheme as compatible with seed-based hierarchical deterministic wallets used across Bitcoin ($BTC), Ethereum ($ETH), Solana ($SOL), and other blockchain networks that rely on elliptic curve cryptography.
Rather than relying on traditional digital signatures alone, the scheme uses zero-knowledge proofs to verify ownership of the original wallet seed at the moment a transaction is signed. While a future quantum computer running Shor's algorithm could potentially derive a child private key from a publicly exposed address, it would still be unable to reconstruct the original master seed used to generate the wallet hierarchy.
The paper has not yet been peer-reviewed. The approach remains a proposal and would require node-level upgrades before any blockchain could enforce it. The paper says post-quantum security is "conjectured" because the underlying assumptions have not been tested against a cryptographically relevant quantum computer.
Why Quantum Risk Is Climbing the AgendaDevelopers have increasingly focused on post-quantum cryptography because sufficiently powerful quantum computers could eventually break the elliptic-curve cryptography used to secure Bitcoin, Ethereum, and many other blockchain networks. The concern is gaining urgency. Google researchers have reported that breaking the cryptographic systems underpinning most cryptocurrencies could require significantly fewer quantum resources than previously estimated, with improved methods for compiling quantum algorithms reducing the scale of hardware needed to compromise elliptic curve cryptography.
Researchers estimate that an estimated 6.9 million $BTC tied to early wallets and reused addresses could be at longer-term risk. In recent months, a Strategy-led consortium pledged $15 million to fund Bitcoin quantum security research, the Ethereum Foundation published a proposal for migrating accounts to quantum-resistant cryptography, and Algorand outlined plans to introduce quantum-resistant accounts by 2027.
The AmericanFortress proposal stands out because most competing approaches require users to migrate assets to new addresses. According to the researchers, the only wallets that cannot benefit from the proposed approach are those created without hierarchical deterministic derivation schemes, including certain early Bitcoin wallets. The technical paper is now public, but independent peer review will be the next critical test of whether the scheme holds up under scrutiny.
Leading cryptocurrency analyst Ali Martinez on Tuesday identified $73.75 as the “most critical” level for Solana (CRYPTO: SOL), where millions worth of SOL were accumulated.
Analyst Says SOL Vulnerable to Steep Declines If…The “make-or-break” level, as Martinez described, is where over 50 million SOL were bought, according to data from the Unspent Transaction Output Realized Price Distribution chart.
The indicator maps out the exact price levels at which existing coin supplies last moved or were acquired on-chain.
“A sustained close below $73.75 could trigger fresh selling pressure, with $60 becoming the next major downside target,” Martinez projected. “Below that, there is little meaningful support until $50.”
Solana briefly hit a high of $74.43 on Monday before a wave of selling dragged it back toward the $73 zone.
Daan Crypto Trades, another well-known cryptocurrency commentator, noted that SOL has broken below its key horizontal support near $77, with a descending trendline defining a local consolidation range.
SOL Losing Steam?The derivatives market has also cooled significantly, with open interest in SOL futures falling 7% in a week, according to Coinglass.
A drop in spot price, alongside a drop in open interest, typically indicates buyers are closing their losing long positions.
The Moving Average Convergence Divergence indicator, which compares the 12-period and the 26-period exponential moving averages, flashed a "Sell" signal for SOL, according to TradingView.
The Bull Bear Power indicator, which measures the strength of buyers and sellers, remained "Neutral," and so did the Relative Strength Index.
Price Action: At the time of writing, SOL was exchanging hands at $73.49, up 0.51% over the last 24 hours, according to data from Benzinga Pro. Year-to-date, the coin has plunged 40%.
Photo Courtesy: LEE WA DA on Shutterstock.com
Market News and Data brought to you by Benzinga APIs
Wall Street accelerates its offensive on cryptos. Morgan Stanley Investment Management launches two new ETPs backed by Ether and Solana on the NYSE Arca, confirming the growing interest of major banks in smart contract blockchains. Long focused on bitcoin, traditional finance players are now broadening their exposure to other assets. With some of the lowest management fees in the market and a mechanism redistributing staking rewards, this new offer directly targets institutional investors seeking yield and ease of access.
In brief Morgan Stanley launches the MSSE (Ether) and MSOL (Solana) funds on the NYSE Arca exchange. A management fee ratio set at 0.14% for both investment vehicles. The bank formally commits to redistributing all staking rewards to shareholders without charging any commission. This initiative strengthens the attractiveness of altcoins and sets new pricing standards for Wall Street giants. What do the Morgan Stanley MSSE and MSOL ETP funds reveal? After the market launch of a Treasury bond fund, Morgan Stanley Investment Management has officially launched two new exchange-traded products with the following main features :
The Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) : a fund designed to replicate the Ether price (ETH) ; The Morgan Stanley Solana Trust (NYSE Arca: MSOL) : a fund designed to replicate the Solana price (SOL) ; A competitive fee structure : the management fee ratio is set at 0.14 % for both investment vehicles ; A full staking redistribution : the aim is to stake part of the underlying tokens and return 100% of the rewards to investors. The bank explicitly states “that it will retain no part of the staking rewards earned by either fund.” Operationally, this financial engineering choice clearly differentiates these instruments from traditional exchange-traded funds. By foregoing an intermediate commission on the flows generated by the validation of the Ethereum and Solana networks, Morgan Stanley guarantees a full transfer of the value from the PoS consensus to the final security holder.
Reference to settlement rates provided by CoinDesk also ensures daily transparency on the net asset value, aligning these instruments with the strict standards required by U.S. securities regulators. Furthermore, the absence of a withholding on staking returns constitutes a direct alignment strategy with investors, offering them access both to the spot price of the asset and to the native yield of the underlying networks without an added fee burden on the gains generated.
The methodical deployment of Morgan Stanley’s crypto ecosystem This launch follows directly from the strategic expansion led by the group in the crypto market over recent months. In April, Morgan Stanley made an impression by launching the Morgan Stanley Bitcoin Trust (listed under the ticker MSBT on NYSE Arca), becoming the very first major U.S. commercial bank to issue its own spot Bitcoin ETF. This pioneering product achieved notable financial success, showing over $381 million in assets under management as of July 16.
Alongside this offering aimed at collective management vehicles, the firm expanded its reach into the retail segment earlier this month by deploying spot crypto trading on its E*TRADE platform. This service allows eligible clients to buy, sell, and hold bitcoin, Ether, and Solana directly, thanks to a technical partnership sealed with the financial infrastructure provider Zero Hash.
The combination of brokerage offering and ETP issuance on the NYSE Arca reflects a carefully built two-pronged infrastructure by Morgan Stanley. On one side, the partnership with Zero Hash provides the liquidity and custody required by individual investors desiring to hold tokens directly. On the other, the range of trusts now covering bitcoin, Ether, and Solana offers wealth managers and institutional investors a simplified exposure without the burden of direct private key custody.
With management fees at 0.14%, the positioning is particularly aggressive compared to the whole crypto index fund sector. This operational coherence demonstrates that major banking institutions no longer consider cryptos as a marginal segment but as a fully-fledged asset class requiring segmented access channels based on client profiles.
A staking redistribution: what implications for the industry? The native integration of validation rewards within listed products managed by a leading financial institution changes the competitive balance of crypto funds.
By redistributing 100% of staking yields without deduction, Morgan Stanley puts competing issuers under direct margin pressure while raising the yield standards expected by institutional investors.
In the long term, this initiative could accelerate the adoption of proof-of-stake protocols in traditional wealth management. If the market reception confirms interest in MSSE and MSOL, financial advisors will have optimized tools to diversify allocations beyond bitcoin. The evolution of capital flows over the coming quarters will indicate whether this overall strategy sustainably strengthens the anchoring of altcoins in institutional portfolios.
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Luc Jose A.
Diplômé de Sciences Po Toulouse et titulaire d'une certification consultant blockchain délivrée par Alyra, j'ai rejoint l'aventure Cointribune en 2019. Convaincu du potentiel de la blockchain pour transformer de nombreux secteurs de l'économie, j'ai pris l'engagement de sensibiliser et d'informer le grand public sur cet écosystème en constante évolution. Mon objectif est de permettre à chacun de mieux comprendre la blockchain et de saisir les opportunités qu'elle offre. Je m'efforce chaque jour de fournir une analyse objective de l'actualité, de décrypter les tendances du marché, de relayer les dernières innovations technologiques et de mettre en perspective les enjeux économiques et sociétaux de cette révolution en marche.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
Upbit, one of South Korea’s largest cryptocurrency exchanges, has announced the listing of MetaDAO (META2), a Solana-based blockchain project. According to the official statement released by the exchange, META2 will be available to users on July 29th in Korean Won (KRW), Bitcoin (BTC), and Tether (USDT) trading pairs.
According to the announcement, deposit and withdrawal operations for META2 will be activated within two hours of the announcement’s publication. Spot trading is scheduled to begin on July 29th at 16:30. Upbit also stated that the start time may be postponed if sufficient liquidity is not available.
The exchange emphasized that users can only deposit and withdraw funds through the Solana network. Assets sent via different networks will not be supported, and refunds for such transactions may take a long time. It was also announced that the META2 token will be listed under the symbol “META2” to avoid confusion with the currently traded Metadium (META).
MetaDAO stands out as a platform developed on the Solana blockchain and operating with a market-based governance model. Unlike traditional decentralized autonomous organizations (DAOs), MetaDAO aims to evaluate the impact of community proposals on the project not only through voting but also through a market price mechanism.
The platform brings together fundraising, token launches, and community governance in a single on-chain system, while the META2 token is used in various transactions within the ecosystem, primarily participation in governance processes.
Upbit reminds users to verify the correct network and smart contract address before making transactions, and also emphasizes the need to comply with regulations under the Travel Rule.
*This is not investment advice.
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TLDR:Morgan Stanley Expands Digital Asset LineupStaking Rewards and Benchmark TrackingGet 3 Free Stock Ebooks Morgan Stanley launches MSSE and MSOL, tracking ether and SOL on NYSE Arca exchanges. Both new ETPs carry a 0.14% expense ratio, matching the existing bitcoin trust fee. MSSE and MSOL will stake holdings, passing all rewards to investors, not the firm. Morgan Stanley’s ETF and ETP suite now spans 22 products worth over $14 billion. Morgan Stanley launched two new crypto exchange-traded products on Tuesday, expanding its digital asset lineup beyond bitcoin.
Morgan Stanley Investment Management introduced the Morgan Stanley Ethereum Trust and the Morgan Stanley Solana Trust on NYSE Arca.
Both products carry a 0.14% expense ratio and aim to track ether and SOL prices. The launch adds staking capabilities to the firm’s growing ETP suite, which already includes a bitcoin trust.
Morgan Stanley Expands Digital Asset Lineup Morgan Stanley Investment Management now offers exchange-traded products tied to three major cryptocurrencies.
The new Ethereum Trust trades under the ticker MSSE, while the Solana Trust uses MSOL. Both joined the earlier Morgan Stanley Bitcoin Trust, known as MSBT, which launched earlier in 2026.
MSBT was the first cryptocurrency ETP offered by a U.S. bank-affiliated asset manager. That product has attracted more than $381 million in assets under management through July 16, 2026. The bitcoin trust set the foundation for this week’s expansion into ether and SOL markets.
Ally Wallace, Global Head of ETFs for Morgan Stanley Investment Management, described the firm’s progress since 2023.
She said the company has “built a diversified suite of ETFs and ETPs” that now tops $14 billion in assets under management. Wallace called the new launches part of the product line’s natural evolution.
Each new trust carries the same 0.14% expense ratio as the Bitcoin product. This pricing structure reflects a broader strategy toward competitively priced digital asset offerings. The consistent fee across all three products simplifies comparison for investors weighing crypto exposure options.
Staking Rewards and Benchmark Tracking Both MSSE and MSOL intend to stake a portion of their underlying holdings. Staking allows the trusts to generate additional yield from their ether and SOL positions. Morgan Stanley Investment Management will not retain any portion of the staking rewards earned.
This structure means reward proceeds flow back to the products themselves rather than the firm. Amy Oldenburg, Head of Digital Asset Strategy at Morgan Stanley, addressed the broader shift toward digital assets. She said client interest in these assets “continues to grow” across investment portfolios.
Oldenburg added that the firm remains focused on offering solutions while “adhering to Morgan Stanley’s standards for governance.”
Those standards guide how the company approaches infrastructure for its digital asset products. The firm aims to balance innovation with established institutional oversight practices.
MSSE will track ether performance using the CoinDesk Ether Benchmark 4PM NY Settlement Rate. MSOL will follow SOL performance through the CoinDesk Solana Benchmark 4PM NY Settlement Rate. These benchmarks provide standardized pricing references for both new exchange-traded products.
Morgan Stanley’s full ETF and ETP suite launched in 2023 and has expanded steadily since. The lineup now includes 22 products spanning Calvert ETFs, Parametric ETFs, and Eaton Vance fixed income ETFs. Three digital asset ETPs round out this diversified investment offering for clients.
Morgan Stanley Investment Management has launched exchange-traded products tracking Ethereum and Solana, expanding the Wall Street bank’s digital asset lineup beyond Bitcoin.
Summary
MSSE and MSOL began trading on NYSE Arca, providing exposure to Ether and Solana. Both products charge a 0.14% annual management fee and include staking. Morgan Stanley becomes the first US bank-affiliated asset manager to issue Ethereum and Solana funds. The launch comes as crypto ETF flows remain mixed during a wider market downturn. Morgan Stanley launches MSSE and MSOL Morgan Stanley Investment Management announced the launch of the Morgan Stanley Ethereum Trust and Morgan Stanley Solana Trust on Tuesday. The products trade on NYSE Arca under the tickers MSSE and MSOL, respectively.
MSSE seeks to track the performance of Ether, while MSOL follows SOL, the native asset of the Solana network. Both products charge an annual management fee of 0.14%, placing them among the lowest-cost US crypto exchange-traded products.
The launch followed the completion of the funds’ registration and listing process. NYSE Arca approved the products after Morgan Stanley submitted the required filings to the US Securities and Exchange Commission.
Although commonly described as ETFs, Morgan Stanley officially classifies MSSE and MSOL as exchange-traded products. Like spot crypto ETFs, they hold digital assets and allow investors to gain price exposure through traditional brokerage accounts without managing wallets or private keys.
Staking adds another source of returns Both products can stake a portion of their holdings to earn blockchain rewards. Staking involves committing tokens to help validate transactions and secure a proof-of-stake network.
Regulatory filings show that MSSE plans to stake between 50% and 80% of its Ether. MSOL may stake up to 100% of its Solana holdings. Figment, Galaxy’s blockchain infrastructure business, and Coinbase Canada are listed among the staking providers.
Service providers and custodians will retain up to 5% of the staking rewards, with the remaining rewards allocated to the funds. However, returns will still depend largely on ETH and SOL price movements, while staking introduces additional operational, liquidity, and network risks.
Morgan Stanley’s entry could increase fee pressure across the US crypto fund market. Its 0.14% charge is below the management fees attached to many competing Ethereum and Solana products, although investors must also consider tracking differences and how each issuer distributes staking income.
US investors gain bank-backed crypto access MSSE and MSOL are the first Ethereum and Solana exchange-traded products issued by an asset manager affiliated with a US bank. Their arrival gives US investors another regulated route to gain crypto exposure through taxable brokerage and eligible investment accounts.
Morgan Stanley entered the market earlier this year with the Morgan Stanley Bitcoin Trust, which trades under the MSBT ticker. The Bitcoin product held about $392 million in net assets as of July 24, according to the asset manager’s product page.
The bank has also expanded direct crypto access through E*TRADE, allowing customers to buy and sell Bitcoin, Ethereum, and Solana through accounts linked to crypto infrastructure provider Zerohash. Morgan Stanley has separately applied to establish a national trust bank focused on digital assets.
Its role in institutional crypto markets also extends beyond its own products. LMAX Group recently appointed Morgan Stanley and KBW to examine a potential sale or public listing that could value the trading company at up to $5 billion. LMAX is considering a direct sale, a special purpose acquisition company merger, or an initial public offering, with a Nasdaq listing reportedly its preferred route.
Crypto ETF flows remain uneven Morgan Stanley’s launch comes during an uneven period for US crypto funds. Bitcoin ETFs have recorded three consecutive sessions of net outflows following a seven-day inflow streak, according to SoSoValue data.
Ethereum funds have posted net inflows on six of the past eight trading days. Solana products recorded four inflow days over the same period, alongside two sessions with no net flows.
Those mixed figures coincide with renewed weakness across the crypto market. Bitcoin pulled back after retesting the $65,000 level, while ETH and SOL also faced selling pressure as traders reduced exposure to risk assets.
The launch nevertheless broadens Morgan Stanley’s crypto offering during a period when traditional financial companies continue building digital asset products despite weaker prices. Initial trading volumes and asset inflows into MSSE and MSOL will show whether the bank’s brand, low fee, and staking structure can attract investors from established rivals.
