SEC Approval for Grayscale’s Mixed Crypto ETF
The U.S. Securities and Exchange Commission (SEC) has “expedited” approval for Grayscale’s Digital Large Cap Fund, which is comprised of 80% Bitcoin, 11% Ethereum, and the rest altcoins like Solana, Cardano, and XRP, to convert into a spot ETF. The fund, which currently trades over-the-counter (OTC), will now be available for exchange-trading. The move is also seen as a positive signal for other altcoin ETF applications.
The SEC’s move increases the likelihood of spot ETFs tracking popular altcoins like XRP, SOL, ADA, and even DOGE being approved. According to ETF Store President Nate Geraci, Grayscale’s fund is a “pilot” to test these assets as part of the ETF. While comments are being made that a softer regulatory environment has formed with the Trump administration, the approval of the Grayscale fund could open the door to other altcoin-based ETFs.
SEC Plans to Speed Up Crypto ETF Process
The U.S. Securities and Exchange Commission (SEC) is working on new rules that will make it easier for crypto ETFs to be launched. Currently, companies have to go through the detailed and time-consuming 19b-4 form process. However, if the planned regulation is implemented, only the S-1 form will be sufficient for crypto assets that meet certain criteria, and the ETF will be able to be listed directly on exchanges after a 75-day waiting period.
This development will both reduce the SEC’s bureaucratic burden and speed up companies’ ETF applications. Although the criteria have not yet been clarified, metrics such as market value, trading volume and liquidity are expected to be evaluated. According to experts, this development has increased the probability of approval of popular altcoin ETFs such as XRP, Solana (SOL) and Litecoin (LTC) to 95%. However, it is not yet clear whether this simplified process will come into effect before the application decision date in October.
Tokenized Stocks with xStocks Now in Solana and DeFi
Backed, a pioneer in the field of tokenized assets, has officially launched the xStocks platform, which allows more than 60 large-scale stocks such as Apple, Amazon and Microsoft to be represented on the blockchain. With this step, traditional stocks are now turning into digital assets that can be traded 24/7, transferred and used in decentralized finance (DeFi) applications. xStocks both facilitates on-chain access for individual investors to traditional markets and expands the areas of use of stocks.
xStocks works integrated with leading DeFi protocols such as Raydium, Jupiter and Kamino in the Solana ecosystem. In this way, tokenized shares can be used as collateral in DeFi, provide liquidity in AMMs and DEXs, and play a role in interest-bearing transactions. Supported by Chainlink’s oracle infrastructure, xStocks also provides institutional transparency and on-chain auditing. The xStocks Alliance, founded under the leadership of Backed, aims to build the basic building blocks of the tokenized financial system together with projects such as Solana, Chainlink, Kamino, Jupiter and Raydium.
Strategy is One Step Away from Entering the S&P 500
Strategy, which stands out with its Bitcoin investments, is on the verge of being included in the S&P 500 index. The company is expected to announce approximately $ 11 billion in net income in the second quarter of the year; Bloomberg predicts that this figure could reach $ 14 billion thanks to the increase in the value of Bitcoin. Strategy has $21 billion in unrealized profits from its Bitcoin holdings, comparable to the earnings of tech giants Apple and Microsoft.
The company, which has met the requirement to report earnings in the last four quarters to be included in the S&P 500, will make the final decision from the S&P Index Committee. Strategy has purchased 597,325 Bitcoins to date, worth more than $63.9 billion. The company’s share price is trading well above the net value of its Bitcoin holdings, driven by investor demand for indirect exposure to crypto. Joining the S&P 500 would lend significant financial legitimacy to Strategy’s “Bitcoin standard” strategy.
Deutsche Bank to Launch Crypto Custody in 2026
Germany’s largest bank is preparing to offer crypto custody to its customers in 2026. The project could be the bank’s most concrete step in its digital asset storage efforts since 2020.
Deutsche Bank has recently increased its interest in the crypto sector. In June, the bank’s head of digital assets, Sabih Behzad, announced plans to enter the stablecoin market, stating that they were evaluating the possibility of issuing their own stablecoin or joining consortiums. The bank is also working on tokenized deposit solutions and Ethereum L2 infrastructure. Plans by other major banks, such as Sparkasse in Germany, to offer crypto services show that the transformation in the sector is accelerating.
Webus’ $100 Million XRP-Focused Deal
Webus, which is listed on Nasdaq, signed a $100 million capital agreement with Ripple Strategy Holdings to support its XRP reserve strategy. The company aims to use this funding in crypto-supported payment systems, blockchain-based loyalty programs and global growth plans. According to the agreement, Webus will be able to attract between $250,000 and $3 million at a time for 24 months, depending on market conditions.
Although public information about Ripple Strategy Holdings is limited, it is considered to be a structure that provides financial support to XRP-related initiatives. It is not officially associated with Ripple Labs. Webus CEO Nan Zheng stated that this funding structure provides flexibility in capital use and protects shareholders from dilution. Although the company’s shares increased by 130% during the day following the news, they returned most of their gains at the end of the session.
Trump’s Giant Bill Passes, No Crypto Tax Exemption
The US Senate narrowly approved President Donald Trump’s “Big Beautiful Bill” compromise bill, which includes comprehensive economic regulations. The bill includes comprehensive financial measures such as infrastructure spending, tax cuts and social aid. However, tax regulations regarding crypto assets could not be included in the bill at the last minute. The initiative, led by Senator Cynthia Lummis, aimed to improve the taxation of crypto mining and staking income, as well as provide tax exemptions for small transactions.
Before the bill was voted on, Lummis and pro-crypto senators made a concerted effort to include crypto regulations. However, these provisions were removed from the bill at the last minute due to lack of time. Among the provisions expected to be included in the bill were; taxation of staking and mining income at the time of sale, flexibility in crypto valuations on balance sheets, and tax exemption for transactions up to $200-$300. These regulations are expected to be re-introduced in a separate bill in the future.
Arizona Rejects Crypto Reserve Fund Initiative
Arizona Governor Katie Hobbs vetoed HB 2324, a bill that would establish a reserve fund within the state treasury for crypto assets derived from criminal proceeds. The bill would allow these assets to be managed by the state treasurer and invested in digital assets.
In his justification for the veto, Hobbs argued that the bill could reduce local law enforcement’s cooperation with the state in investigations related to digital assets. While Arizona had enacted another regulation regarding abandoned crypto assets in recent months, this new proposal focused on assets linked to crime. As discussions continue, new bills that would make crypto legal tender are also on the agenda in the state.
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BITCOIN (BTC)
BTC is trading at $106,492, up 0.77% as of morning hours. The price is trying to maintain its upward momentum by climbing above the horizontal resistance zone in the short term.
If this level is maintained, the first resistance is at $ 107,827. If this zone is exceeded, a movement towards the $ 110,507 level can be seen. In case of a downward correction, the $ 105,984 level stands out as the first support, and if it declines below this level, $ 103,502 can be followed as a strong support zone.
ETHEREUM(ETH)
ETH is priced at $ 2,439 as of the morning hours with a 1.45% gain in value. In upward movements, the $ 2,466 and $ 2,590 levels can be followed as resistance. Exceeding these resistances may bring new momentum towards the $ 2,730 region. In a possible downward correction, the $ 2,392 level is the first support, and below this level, $ 2,285 stands out as a strong support. Especially the $ 2.392-2.466 band is of critical importance in terms of short-term direction determination.
RIPPLE(XRP)
XRP is priced at $ 2.18 with a 0.72% gain as of the morning hours. While the first resistance zone in upward movements is at $ 2.22, if this level is exceeded, the $ 2.27 and $ 2.33 levels stand out as the next resistance levels. In downward movements, the $ 2.17 level can be watched as the first support, in case of a loss of this level, the $ 2.14 and $ 2.08 zones are critical support.
AVALANCHE(AVAX)
AVAX is trading at $ 17.50 as of the morning hours with a 2.45% loss in value. Avax, which gained support at 17.07 after the pullbacks, is moving just below the 17.63 resistance in the morning hours. Breaking a resistance will be important for the positive trend to continue. Then, the 18.45 level can be targeted. In possible pullbacks, 17.07 and 16.54 levels are in support position.
SOLANA(SOL)
SOL is traded at $ 149.33 with a 1.67% increase in value as of the morning hours. In the short term, the 149.10 level stands out as an important intermediate support. If this level cannot be broken, the next support points can be followed as 141.80 and 134.83. In a stronger downside scenario, the price can be expected to head towards the green demand zone in the $124.27 – $127 band. If it can stay above 149.10 with an upward movement, the first resistance level is 157.75. If this resistance is overcome, the next target can be followed at 164.12.
