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Solana, Zcash and Bitcoin trade below key averages as consolidation continues

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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.

Final Summary

ARK Warns Crypto Bankruptcies and Shutdowns Will Rise, Cathie Wood’s Stock Buys Show Why

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.

7 minutes ago

https://moneywise.com/investing/reviews/moonpay-review

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.

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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.

7 minutes ago

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

What's Next For Crypto If CLARITY Fails?

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 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.

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.

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Jul 29, 2026, 8:00 a.m.

4 min read

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.

This site is protected by reCAPTCHA.

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.

This site is protected by reCAPTCHA.

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.

This site is protected by reCAPTCHA.

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.

Sources:
CoinTelegraph: AmericanFortress Unveils Quantum-Safe Crypto Wallet Proposal
Crypto.news: AmericanFortress Proposes Quantum-Safe Crypto Wallet Scheme
Google Quantum AI: Securing Elliptic Curve Cryptocurrencies Against Quantum Vulnerabilities

Meet the Strangest RWA on Solana Yet: A Dinosaur Skull

9h05 ▪ 5 min read ▪ by Luc Jose A.

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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.

TLDR: Table of Contents

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.

18h14 ▪ 6 min read ▪ by Ariela R.

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On July 28, 2026, the security platform specialized in onchain transaction analysis Blockaid publishes its security report for the first half of 2026. The facts are alarming: losses related to crypto hacks amount to 3.1 billion dollars, spread over more than 75 major attacks. The highest number of hacks ever recorded in such a short period! Ethereum accounts for more than half of the losses. Nevertheless, Solana also establishes itself among the most targeted crypto networks.

In brief 3.1 billion dollars were stolen during more than 75 crypto hacks in the first half of 2026. Ethereum accounts for 53% of the losses, ahead of Solana, the second most targeted blockchain. Private key thefts and phishing attacks now surpass smart contract exploits. Hackers increasingly target users, wallets, and crypto infrastructures. For the crypto industry, cybersecurity becomes a key issue for institutional adoption. Ethereum remains the preferred target of crypto hackers With approximately 1.63 billion dollars stolen by crypto hackers, Ethereum represents nearly 53% of hacks recorded in the first half. Blockaid’s report nonetheless highlights an important point: this observation does not necessarily mean that the architecture of this crypto blockchain is more vulnerable than that of its competitors.

Ethereum still concentrates the largest share of value locked in DeFi. It hosts thousands of decentralized applications. Most importantly, it serves as the reference infrastructure for many crypto financial protocols. This liquidity concentration naturally attracts cybercriminals, who favor targets offering the best potential returns.

This logic is comparable to that observed in the traditional financial system. The world’s largest banks regularly rank among the most attacked institutions, not because they are the least secure, but because they hold the largest assets.

Solana becomes an increasingly attractive target The second most affected crypto blockchain, Solana totals approximately 373 million dollars in losses. This growth is largely explained by the rise of its ecosystem.

The explosion of memecoins, increased transaction volumes, and rapid DeFi development have significantly increased the crypto network’s activity. This attracts not only new users but also malicious actors seeking opportunities.

The increase in attacks on the Solana crypto network can therefore be interpreted as a maturity sign. Decryption: as an ecosystem gains economic importance, it becomes a more profitable target for hackers.

Losses related to crypto hacks (Source: Blockaid) Smart contracts are no longer the main weak point The Blockaid report provides valuable information on:

the nature of crypto attacks; the evolution of the methods used. For several years, the biggest losses mainly came from errors in smart contracts. Now, this trend is reversing. According to Blockaid, about 1.83 billion dollars were stolen after wallet compromises, private key thefts, phishing attacks, or critical infrastructure compromises.

This simply means that crypto hackers today favor strategies that are often simpler and more profitable:

deceiving a user; compromising an administrator; gaining access to a private key This shift is probably the main change in crypto cybersecurity since the rise of DeFi.

Cybersecurity now goes beyond the crypto blockchain Interviewed by Cointelegraph, Blockaid CEO Ido Ben-Natan recalls that 2025 was already a heavy year with 2.58 billion dollars lost over 63 incidents. However, this sum was concentrated on a single major event in the first quarter: the hack of the crypto exchange Bybit amounting to 1.4 billion dollars. Ethereum and Arbitrum then ranked at the top of the most affected networks.

The attacks observed in 2026 show that crypto cybersecurity is now a global issue. Today’s cybercriminals seek to compromise wallets, multisig signatures, web interfaces, APIs, or even the accounts of technical teams.

This approach progressively brings crypto project security closer to that of large tech companies. Social engineering campaigns, targeted phishing, and credential compromises are growing in importance compared to purely technical exploits.

For developers as well as investors, protection no longer relies solely on the robustness of protocols. It also includes access management, infrastructure monitoring, and good operational practices.

A transformation happening at a strategic moment for the crypto industry Figures published by Blockaid far exceed the scope of developers. With the arrival of ETFs, asset tokenization, and growing interest from banks and asset managers, trust in the crypto ecosystem now depends on its ability to protect capital.

Each major attack thus weakens this trust. More importantly, it reminds that security is one of the essential conditions for institutional adoption. Crypto platforms will need to invest more in real-time threat detection, enhanced authentication, and monitoring tools (including those based on artificial intelligence).

In any case, Blockaid’s report highlights a profound mutation: crypto attacks target code less and less and users, private keys, and infrastructures more and more. For an industry aiming to attract institutional investors, strengthening cybersecurity is no longer an option. It is an essential condition.

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Ariela R.

My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)

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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.

Kamino has launched the $PAXG Market, introducing gold-backed credit to its lending platform on Solana. Curated by Steakhouse Financial, the new market allows users to supply Pax Gold ($PAXG) as collateral and borrow $USDG, giving tokenized gold holders a way to access liquidity without selling their assets.

Users can buy $PAXG, deposit it into Kamino, and borrow $USDG against their holdings at 1.9% APY. The launch makes tokenized gold usable as onchain collateral through a dedicated lending market.

How the $PAXG Market Works Pax Gold is a digital asset backed by physical gold, with each $PAXG token representing 1 fine troy ounce of a London Good Delivery gold bar stored in LBMA vaults. Holders own the underlying gold through Paxos Trust Company, an OCC-regulated custodian that conducts monthly audits of its allocated reserves.

Kamino designed the $PAXG Market as a fully isolated lending market with its own risk parameters and oracle infrastructure. Chainlink powers price feeds for the market, helping determine collateral values and borrowing limits independently from other assets on the platform.

OnRe Continues Rapid Growth The launch comes as Kamino's RWA markets continue to expand. The OnRe Market surpassed $200 million in total market size last week and now stands at over $206 million.

The market has grown nearly 70% over the past 90 days, making it the 2nd-largest RWA market on Kamino and the 4th-largest market overall.

Current OnRe metrics include a total supply of $206.1 million, $127 million of $ONyc used as collateral, $69.7 million borrowed against collateral, 24% growth over the past 30 days, and 66% growth over the past 90 days. 

The market has expanded from roughly $50 million in February to more than $200 million today.

Ethena Remains One of Kamino's Largest Markets Kamino's Ethena Market has also maintained strong momentum since its launch. On May 14, Kamino reported that the market became the fastest in the platform's history to exceed $400 million in size. Within its first 24 hours, it reached a $200 million borrow cap, attracted more than $225 million in $USDe deposits, and deployed more than $420 million overall.

Today, 75 days after its May 13 launch, the Ethena Market has grown to $522.8 million, making it one of Kamino's largest lending markets.

RWA Lending Evolves on Solana According to Blockworks' Solana Q2 Tokenholder Report, deposits across Solana's 2 largest money markets, Kamino and Jupiter Lend, reached $4.1 billion at the end of the quarter, while outstanding loans totaled $1.6 billion.

The addition of new lending markets tied to tokenized assets continues to broaden the range of collateral available on Solana as interest in real-world assets grows.

Read More on SolanaFloor Robinhood Flips Solana in RWA Holder Count, But There’s a Catch
Kraken’s Parent Company Payward Buys Magic Labs' Wallet Business to Expand Its B2B Platform

What's Next For Crypto If CLARITY Fails?

Two weeks ago, Robinhood Chain was mostly known for memecoins. Now it’s the biggest venue for trading tokenized stocks on-chain, and it’s not particularly close.

Robinhood’s Ethereum Layer 2 network averaged $29.7 million in daily DEX volume for tokenized equities over the past seven days, according to a Dune dashboard maintained by OKX’s Web3 wallet team. That figure eclipses the combined output of Solana’s two primary stock-trading platforms: xStocks at $11.1 million and Backpack’s Sunrise at $13.4 million daily.

The numbers behind the surge Robinhood Chain launched on July 1, 2026, built as an Arbitrum Orbit rollup settling on Ethereum. In barely two weeks, tokenized equities on the chain have accumulated roughly $70 million in total value, a fivefold increase from where things stood shortly after launch.

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The volume breakdown reads like a Reddit watchlist. GameStop leads with $26.6 million in daily volume, because of course it does. Nvidia follows at $14 million, and SpaceX, a stock that’s essentially impossible for retail investors to access through traditional channels, pulls in $6.4 million daily.

Over a dozen individual stocks on the chain each surpass $500,000 in daily volume.

Total value locked has tripled to approximately $312 million, and daily DEX volume across all asset types, not just equities, exceeded $600 million. Memecoins and stablecoins still command a large share of that activity, but the equity piece is growing fast enough to matter.

Solana’s dominance erodes quickly As recently as Q2 2026, Solana held over 95% of the tokenized equity market. Platforms like xStocks and Backpack’s Sunrise had built a meaningful head start, and the network’s speed and low fees made it a natural fit for stock token trading.

The Robinhood Stock Tokens themselves are issued by Robinhood Assets (Jersey) Limited. They reflect economic exposure to the underlying equities without conferring legal ownership. They trade 24/7 on decentralized exchanges, rather than actual shares sitting in a brokerage account.

Disclosure: This article was edited by Editorial Team. For more information on how we create and review content, see our Editorial Policy.

Blockchain 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.

Unlike most proposed post-quantum approaches, AmericanFortress said its scheme allows existing wallet addresses to remain unchanged while adding post-quantum protection.

The company published the proposal in a technical paper on the Cryptography ePrint Archive, describing 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. The paper has not yet been peer-reviewed.

According to the paper, the scheme uses zero-knowledge proofs derived from a wallet’s original seed phrase instead of replacing the elliptic curve cryptography underlying existing wallets. AmericanFortress said participating nodes would verify those proofs while users continue signing transactions with their existing keys.

AmericanFortress also cited a recent Bloomberg analysis estimating that up to $470 billion in Bitcoin could be vulnerable to quantum attacks if sufficiently powerful quantum computers become available.

Companies pursue different paths to post-quantum wallet securityAmericanFortress is not the only company developing post-quantum protections for cryptocurrency wallets. On Tuesday, Freedom Factory unveiled PQ1, which it describes as a post-quantum hardware wallet designed for Ethereum and other Ethereum Virtual Machine (EVM)-compatible networks.

Unlike AmericanFortress’ software-based approach, PQ1 uses post-quantum cryptographic signatures generated on dedicated hardware. According to Freedom Factory, the wallet uses SPHINCS+C10 signatures and ERC-4337 smart accounts to secure transactions against future quantum attacks.

Developers 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. Although such computers are not yet available, several blockchain projects have already begun researching migration strategies.

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.

Ethereum’s post-quantum roadmap. Source: Ethereum Foundation

Magazine: A quantum roadmap would push Bitcoin much higher: Charles Edwards

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently.

In brief Morgan Stanley launched spot Ethereum and Solana exchange-traded products under the ticker symbols MSSE and MSOL. Both funds will stake a portion of their holdings, with staking rewards passed through to investors. The launch follows a series of crypto initiatives this year, including a Bitcoin ETF, E*TRADE crypto trading, and tokenization plans. Morgan Stanley Investment Management is expanding beyond Bitcoin with the launch of Ethereum and Solana exchange-traded products that will generate staking rewards for investors, the latest step in the Wall Street firm's growing push into digital assets.

Announced on Tuesday, the Morgan Stanley Ethereum Trust (NYSE Arca: MSSE) and Morgan Stanley Solana Trust (NYSE Arca: MSOL) will track the price of Ethereum and Solana, respectively. The company said each fund will charge a 0.14% expense ratio, stake a portion of its holdings, and pass any staking rewards through to investors.

“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,” Global Head of ETFs for Morgan Stanley Investment Management, Ally Wallace, said in a statement. “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.”

The launch follows Morgan Stanley's April introduction of its spot Bitcoin Trust. According to the company, the fund had attracted more than $381 million in assets under management through July 16, while its ETF and ETP platform had grown to more than $14 billion across 22 products.

The launch is the latest crypto initiative that Morgan Stanley has announced this year.

Also in April, Morgan Stanley executives said the firm was exploring tokenized money market funds, digital asset tax-management strategies through subsidiary Parametric, and other blockchain-based products.

“We’re not going to stop at just Bitcoin,” Amy Oldenburg, head of digital-asset strategy at Morgan Stanley, previously told Decrypt. “It’s really about the longer-term journey, and there’s quite a long way to go.”

In July, Morgan Stanley rolled out spot Bitcoin, Ethereum, and Solana trading for eligible E*TRADE customers through a partnership with Zero Hash, allowing clients to buy, sell, and hold digital assets alongside stocks and other investments.

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