TL;DR

SEC clears Solana/Ethereum staking ETFs; Cboe files PENGU/NFT ETF; PENGU surges 28% on whale buys.

Highlights

• SEC clears REX-Osprey Solana and Ethereum Staking ETFs, enabling first U.S. Solana staking ETF1.
• Cboe files for PENGU spot ETF, bundling Solana memecoin and Pudgy Penguins NFTs; PENGU rallies 28%23.
• Whale accumulation drives PENGU’s surge; Pudgy Penguins NFTs see increased trading volumes3.
• Solana’s Moonshot app debuts Apple Pay-enabled memecoin minting; sector volumes down 30%+ in June4.
• South Korea’s crypto adoption hits 27% among 20–50-year-olds; Kakao Pay and Web3 stocks rally, margin debt at record highs5.
• Coinbase leads S&P 500 in June with 40%+ gain; named to Time’s 100 Most Influential Companies14.
• Nasdaq 100 and S&P 500 hit new highs after tariff-driven volatility; July 9 tariff pause expiration in focus1510.
• U.S. Senate advances Trump’s $3.8T tax bill; includes cuts to green energy incentives1119.
• Trump signals July 9 end to tariff pause, warns of new 25–50% levies; U.S.–Canada trade tensions rise108.
• Fed holds rates at 4.25–4.5%; Trump criticizes Powell, hints at 2026 replacement12.

Commentary

U.S. regulators are expanding the crypto ETF landscape, with the SEC clearing the way for Solana and Ethereum staking ETFs1. This move broadens access to staking yields and signals increasing regulatory acceptance of altcoins. The Cboe’s filing for a PENGU spot ETF—combining a Solana-based memecoin and NFTs—marks a potential first for U.S. markets, and has fueled a 28% rally in PENGU, supported by notable whale accumulation and heightened NFT trading23. These developments highlight the continued convergence of DeFi, memecoins, and NFTs, even as overall memecoin sector volumes have declined sharply in June4.

Solana’s ecosystem remains active, with Moonshot’s launch of Apple Pay-enabled memecoin minting aimed at retail users4. However, recent data shows sector-wide memecoin trading volumes down over 30% this month, and competition among launchpads is intensifying. Only projects with clear network effects or unique features are likely to sustain interest as retail enthusiasm cools4.

Macro conditions remain a key driver for risk assets. U.S. equities, including Coinbase , have rebounded14, but the July 9 expiration of the tariff pause and renewed trade tensions—especially with Canada—are raising volatility risk108. The Senate’s advancement of a $3.8T tax bill and the Fed’s rate hold add further uncertainty to the policy outlook1112. In Asia, South Korea’s rapid crypto adoption and related equity rallies are notable, but record margin debt could amplify downside if sentiment reverses5.

Traders should closely monitor ETF launch dates and inflows, Solana ecosystem activity, and global policy signals—especially around tariffs and Fed guidance. Short-term volatility is likely as regulatory, macro, and sector-specific catalysts converge.