A variety of main occasions occurred in crypto this week, because the Huge Stunning Invoice handed, prompting one other break up between Elon Musk and President Trump. Robinhood unveiled tokenized shares and different formidable targets.
The primary Solana staking ETF started buying and selling on US markets, however the SEC delayed Grayscale’s altcoin basket product. All these tales and extra can be found at BeInCrypto.
Trump Indicators Huge Stunning Invoice Into Regulation
This week, a key piece of regulation with large implications for crypto handed, as Trump’s Huge Stunning Invoice made it by means of the Senate and Home of Representatives. Though many crypto- and AI-specific provisions didn’t survive the ultimate model, the invoice because it stands will nonetheless have large implications.
Earlier at the moment, on the Fourth of July, Trump lastly signed the $3.3 trillion invoice into regulation.
Of the various points that the Huge Stunning Invoice covers, large tax cuts appear most salient to the crypto ecosystem. These cuts is not going to solely encourage home crypto funding, however they’re additionally prone to considerably weaken the greenback.
By growing the deficit and monetary instability, the invoice could encourage Bitcoin’s use as a retailer of worth.
Trump and Musk Fallout Once more
After all, the crypto group is way from united on the Huge Stunning Invoice. This week, Elon Musk warned supporters of its main potential downsides, sending shockwaves by means of the crypto market.
Musk could be very involved in regards to the US deficit, as evidenced by his time at D.O.G.E., and he repeatedly warned that this invoice might result in a recession:
For the final a number of days, Musk has vowed to create a brand new political celebration if the Huge Stunning Invoice passes. This might signify a extra everlasting political divorce from Trump, which could notably affect the meme coin market.
To this point, Musk remains to be working a social media ballot about this third celebration, and his plans could not truly materialize.
Solana Staking ETF Begins Buying and selling
In a lighter piece of crypto information, the US’ first Solana Staking ETF started buying and selling earlier this week. The SEC gave optimistic alerts relating to potential approval a number of days earlier than, and the product is now stay on regulated exchanges.
This represents a giant breakthrough for the crypto ETF sector.
Sadly, the crypto ETF subsector additionally acquired some dangerous information this week. Though the SEC ostensibly permitted Grayscale’s new basket ETF, containing a number of main altcoins, it initiated one other delay quickly after.
The Fee’s last deadline to approve such a product was July 2, however this unorthodox technique could have given it a bit extra time.
It’s unclear why precisely the SEC determined to take this place. It’s additionally engaged on a streamlined ETF software course of, which can assist clarify the scenario. There are dozens of lively proposals already, and no person is aware of how they may work together with this newfangled mechanism.
Robinhood Launches Tokenized Shares
This week, Robinhood unveiled its long-term plans for enlargement within the crypto business. The agency has been exploring this marketplace for over a yr, however its latest presentation at EthCC 2025 detailed very formidable targets.
Robinhood plans to tokenize over 200 shares and ETFs for the US and European markets, turning its crypto app into an all-in-one funding platform.
The agency additionally introduced just a few different targets, like its personal Layer-2 blockchain, perpetual futures contracts for EU customers, token staking for the US market, and extra.
If achieved, these milestones might assist solidify Robinhood’s stature as a significant presence within the crypto business.
“Solana’s MicroStrategy” Goes All in on Acquisition
In a last piece of crypto information this week, DeFi Improvement introduced a $100 million inventory sale to fund Solana acquisition.
An enormous variety of companies are shopping for Bitcoin, elevating considerations of a bubble, however DeFi Improvement is the one agency to try a SOL treasury plan. Its inventory worth crashed when it introduced this sale, however recovered all through the week.
DeFi Improvement Value Efficiency. Supply: Google Finance
No matter what occurs, DeFi Improvement’s enterprise will yield useful details about market appetites. As MicroStrategy-style company treasury plans take over your complete Bitcoin sector, an altcoin acquisition effort would possibly shake every little thing up.
These tales are only a small choice of the most important occasions that occurred in crypto this week. As at all times, BeInCrypto stands able to preserve you knowledgeable of all market developments.
