Why the Crypto ETF Market May Be Entering a Commodity Phase

Morgan Stanley’s proposed ethereum and solana exchange-traded funds (ETFs) would enter a market where issuers increasingly offer similar exposure to the same assets. The firm recently amended both filings with the U.S. Securities and Exchange Commission (SEC) to include a 0.14% management fee, below Grayscale’s 0.15% and Franklin Templeton’s 0.19%. The narrow spread signals intensifying price competition.

Brian Rudick, chief strategy officer at Solana treasury company Upexi and formerly head of research at crypto trading firm and liquidity provider GSR, argued that the fee matters less than what it suggests about the market’s development. On July 9, he shared on X:

“Issuers don’t compete on price until the product is close to a commodity and the fight is for share, the same compression the spot BTC ETFs went through.”

“ SOL ETF AUM already crossed $1B, led by Bitwise’s BSOL, so there is real share to fight over,” he added.

The argument places the 0.14% fee within a shift from product creation to asset gathering. Once several issuers offer similar exposure, management costs become one of the clearest points of distinction. His comparison with spot bitcoin ETFs suggests ethereum and solana products may be entering the same phase of fee compression.

Bitwise launched its solana ETF, BSOL, on NYSE Arca in October 2025, marking the first U.S.-listed vehicle to provide direct exposure to spot SOL. The fund goes beyond simple price tracking by actively staking its holdings, allowing staking rewards to contribute to fund returns after applicable expenses.

How Morgan Stanley Designed the Ethereum and Solana Trusts

The Morgan Stanley Ethereum Trust would trade on NYSE Arca under the ticker MSSE and track the Coindesk Ether Benchmark 4PM NY Settlement Rate. Alongside its proposed 0.14% fee, Morgan Stanley Investment Management intends to stake 50% to 80% of the trust’s ether under normal conditions.

BNY and Coinbase Custody would hold the ethereum trust’s assets. Staking providers and custodians would receive an aggregate 5% of staking rewards, leaving the remainder with the trust. Net rewards would be distributed monthly, but at least quarterly, though the filing does not guarantee the amount.

The Morgan Stanley Solana Trust would trade on NYSE Arca under the ticker MSOL and track the Coindesk Solana Benchmark 4PM NY Settlement Rate. It would also carry a proposed 0.14% fee. The trust may stake up to 100% of its SOL while keeping some holdings unstaked for redemptions, expenses and distributions.

BNY and Coinbase Custody would also serve as custodians for MSOL. Staking providers and custodians would receive 5% of staking rewards, leaving 95% with the trust. Net rewards would be distributed monthly, but at least quarterly, while validator block rewards and transaction fees would not accrue to shareholders.

What Morgan Stanley’s Bitcoin ETF Shows About the Strategy

Morgan Stanley has already used the same fee level in its spot bitcoin product. The Morgan Stanley Bitcoin Trust began trading under the ticker MSBT on April 8, 2026, with a 0.14% annual management fee. That undercut Blackrock’s IBIT at 0.25% and Bitwise’s spot bitcoin ETF at 0.20%.

MSBT became the first proprietary spot cryptocurrency ETF launched under the name of a major U.S. commercial bank. As of July 10, 2026, it traded at $18.47 per share and held about $364.23 million in total net assets. Its debut ranked in the top 1% of ETF launches by volume and early adoption.

The proposed ETH and SOL funds remain preliminary, and shares cannot be sold until the registration statements become effective. No firm launch dates have been announced. SEC effectiveness and subsequent asset flows would show whether Morgan Stanley’s combination of low fees, staking income and bank-backed distribution can win market share.

SAN DIEGO — Due to a loss of lease, the Carmel Valley Retail Post Office located at 3880 Valley Center Dr, Ste 202, San Diego, is closed effective June 16, 2026. The last day of retail operations was Monday, June 15, 2026.

Mail delivery operations in the area are not impacted. The Postal Service is searching for alternate quarters to continue retail service in the area. We will provide additional information as it becomes available.

Customers may obtain retail services at the following nearest locations:

Rancho Penasquitos Post Office

9245 Twin Trails Dr., San Diego, 92129

Mon – Fri 830 am – 5:00 pm; Saturday 9:00 am – 4:00 pm; closed Sunday

Del Mar Post Office

122 15^th St., Del Mar

Mon – Fri 9:00 am – 5:00 pm; Saturday 9:30 am – 12:30 pm; closed Sunday

Solana Beach Post Office

153 S Sierra Ave, Solana Beach

Mon 8:30 am – 5:00 pm; Tues – Fri 9:30 am – 5:00 pm; Saturday 9:30 am – 12:30 pm; closed Sunday

We apologize for any inconvenience.

Customers may also access many services online at USPS.com or call 1-800-ASK-USPS (1-800-275-8777) for assistance.

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Meet Samuel – Your Personal Investing Prophet

Solana Company ( (HSDT) ) has issued an announcement.

Solana Company, a publicly traded firm, held its annual meeting of stockholders on May 21, 2026, where shareholders addressed board composition and oversight of financial reporting for the coming year. While the company did not specify its industry or core products in the release, the voting outcomes underscored investor engagement with governance and audit matters.

At the May 21, 2026 meeting, stockholders elected four directors to one-year terms and approved two additional directors, all serving until the 2027 annual meeting or until successors are chosen. Investors also ratified CBIZ CPAs P.C. as the independent auditor for 2026, and the board’s audit committee was reconstituted with Blane Walter as chair alongside Edward M. Straw and Michel Lee, signaling continuity and refinement in the company’s governance structure.

The most recent analyst rating on (HSDT) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Solana Company stock, see the HSDT Stock Forecast page.

Spark’s Take on HSDT Stock

According to Spark, TipRanks’ AI Analyst, HSDT is a Neutral.

The score is held down primarily by weak financial performance (large losses and ongoing cash burn) and loss-driven valuation signals (negative P/E). Offsetting these, technicals show modest near-term momentum improvement, and the latest earnings call outlined operational progress and cost actions, though uncertainty remains due to SOL price volatility exposure, low cash, and dilution.

To see Spark’s full report on HSDT stock, click here.

More about Solana Company

Average Trading Volume: 363,460

Technical Sentiment Signal: Strong Sell

Current Market Cap: $134.9M

Find detailed analytics on HSDT stock on TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Western Union’s decision to build on Solana isn’t just another stablecoin integration, but a signal that the foundations of global payments may be starting to shift. For decades, Western Union has been synonymous with cross-border money movement, built on a network of intermediaries, settlement layers, and regional constraints. Behind the surface, this move suggests a potential shift in how global payment infrastructure is being built, upgraded, and ultimately replaced.

How Solana Could Fit Into The Future Of Global Money Movement

Western Union’s decision to build USDPT on Solana is more than just another stablecoin headline; it’s a signal that the role of stablecoins is moving from crypto narrative to real payment infrastructure. The CEO of MEXC and Honorary Chairman of MVenturesLabs, Vugar Usi, has pointed out on X that for years, stablecoins have mainly been seen as trading tools, and were a way for traders to move capital faster, manage liquidity, and reduce friction in crypto.

However, when a global remittance giant begins building a dollar-based payment token on SOL, the narrative shifts from trading utility to real-world infrastructure. This is no longer about traders optimizing capital flow, but about real-world settlement, treasury management, and cross-border payments operating on new rails.

Furthermore, it’s about replacing slow, fragmented financial rails with infrastructure that operates seamlessly in the background. In Vugar Usi’s view, SOL is validated as a payment rail, and stablecoins as a real financial infrastructure. Thus, exchanges should be ready with liquidity, access, education, and simple user journeys.

For platforms like MEXC, this shift carries clear implications, because adoption does not always arrive loudly. Sometimes, it arrives through better rails, faster settlement, and fewer reasons for users to care about the backend. If these rails disappear, that’s when crypto will win.

Is Solana Entering The Kind Of Zone Where Reversals Begin?

Solana is going through one of those moments that tend to define the market cycle. Crypto analyst Robert revealed that SOL price has taken a severe hit, down 71% from its 2025 all-time high (ATH). At the same time, Solana’s Net Unrealized Profit/Loss (NUPL) is sitting deep at 0.67 in full capitulation territory, a level that typically reflects that holders are sitting on heavy unrealized losses.

Data from Fidelity Investments suggests that historically, similar conditions have preceded strong rebounds, with a median of over 516% the following year. Meanwhile, they’re quick to emphasize the limitations of a small sample size, weak correction, and that past performance may not repeat itself.

On the bright side, network usage is rising, with monthly active addresses up 50%, new addresses growing over 35%, and stablecoin flows are holding steady. However, this shift shows that real utility is building even as the price is down, but on-chain activity tells a more resilient story.

The last week of March and the start of April saw mixed sentiment in the ETF space. Looking at the performance of the Spot Bitcoin [BTC] ETF, it saw inflows worth $69.4 million on the 30th of March, in which Ark Invest’s ARKB contributed $33 million.

Then, on the 31st of March, BTC ETFs saw inflows worth $117.5 million, in which BlackRock’s IBIT led the way, with $98.4 million.

However, things flipped on the 1st of April, wherein BTC ETFs recorded outflows worth $173.7 million, in which BlackRock’s IBIT saw maximum outflows worth $86.5 million.

The trend turned positive on the 2nd of April yet again, as the BTC ETF saw inflows worth $9 million, wherein Fidelity’s FBTC saw $7.3 million in inflows.

This coincided with Bitcoin seeing a drop to $65,000 on the 30th of March, but at press time, it was changing hands at $66,937.05.

How did the Spot Ethereum ETF perform?

Moving forward, Spot Ethereum ETFs saw inflows worth $5 million on the 30th of March, in which Fidelity’s FETH saw inflows worth $10.6 million. The next day, the ETH ETF saw inflows worth $31.2 million, wherein BlackRock’s ETHA was worth $24.7 million.

However, on the first day of Q2, inflows turned to outflows. As of the 1st of April, the ETH ETF recorded outflows worth $7.1 million, in which BlackRock’s ETHA witnessed outflows worth $32.3 million.

On the 2nd of April, the ETH ETF saw $71.2 million in outflows, in which BlackRock’s ETHA faced maximum outflows worth $46.7 million. 

This comes as ETH’s price was trading at $1,958 on the 30th of March, but at press time it stood at $2,043.42.

Solana and XRP ETF analysis

Now, when it comes to the Solana ETF, it too saw a rollercoaster ride. On the 30th of March, it recorded outflows worth $6.2 million, with Bitwise’s BSOL seeing the highest outflows worth $6.2 million.

Meanwhile, on the 31st of March and the 1st of April, the SOL ETF saw zero flows. Lastly, on the 2nd of April, SOL ETFs saw inflows worth $0.9 million, wherein Fidelity’s FBTC was the only one to see inflows worth $0.9 million. 

Zooming out, SOL price was trading at $80.01 on the 30th of March, whereas at press time it was $79.73. 

Lastly, XRP ETFs saw outflows worth $2.31 million on the 30th of March. Then on the 31st of March, it saw zero inflows.

Moving forward to the 1st of April, XRP ETFs saw outflows worth $1.32 million, and on the 2nd of April, they saw inflows of $64.6K. Meanwhile, XRP’s price was trading at $1.30, and at press time, it was at the same level, facing high volatility in the past week. 

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Final Summary

• As 2026 transitions from Q1 to Q2, the ETF space is showing confused investor sentiment, juggling between inflows and outflows
• The price action of all the tokens is also mirroring the ETF flow analysis, showing that volatility is in full force. 

Solana was under significant selling pressure last week, but it’s now showing signs of a bullish comeback. However, savvy traders are switching to Lunex Network’s viral presale which has already raised more than $1,270,000 USDT in record time.

Can Solana (SOL) Reach $330 Before 2025?

Solana was on a bearish trend after spending the last seven days in the red zone. Since Solana’s price was down by 5.58% last week, analysts projected steeper declines in Q4. However, one renowned analyst believes Solana could breach its critical resistance and reach $330 by the end of Q4. Due to this bullish prediction, investors are regaining interest in Solana as the token’s volume has increased by 110% over the last 24 hours. 

Solana is currently trading for $147.14 after a 1.91% intraday increase. Given Solana’s strong technological developments such as the recent release of Frankendancer and the upcoming release of Firedancer in 2025, Solana appears to be regaining bullish momentum in Q4. If Solana can break above its 200-day SMA at $153.03 soon, Solana’s price could surge up to the $169.36 resistance in the next few weeks. 

Lunex Network (LNEX) Redefines Trading with New DeFi Exchange

Lunex Network (LNEX) is emerging as a powerful force in the crypto DeFi exchanges space as it soars through its explosive presale. This state-of-the-art protocol makes use of the most advanced blockchain technologies to offer a variety of interesting perks to traders. Even loyal Solana users are now switching to Lunex Network due to its unmatched interoperability features, smart contracts, and more than 50,000 compatible crypto pairs. 

The biggest reason why Lunex Network is gaining traction is the platform’s commitment to bringing trust and privacy back to crypto trading. Unlike most centralized exchanges, Lunex Network has a robust no-KYC policy that allows traders to maintain their anonymity while trading. Even high-profile investors who need to keep their identity a secret due to business reasons are rapidly switching to Lunex Network’s viral exchange. 

The best part about trading on Lunex Network is the lightning-fast transaction speeds and lowest gas fees in the market. By using smart contracts to split trades across various networks, Lunex Network sources liquidity from different chains and gives traders the lowest possible transaction cost on every trade. To make things even better, Lunex Network is simplifying the entire trading experience with its incredibly easy to use UI. With Lunex Network’s mobile exchange, traders can simply select a crypto pair to swap, enter a recipient wallet address, and make a deposit using the generated QR code. After this quick process, traders can receive their new tokens in a matter of minutes. 

Although Lunex Network is still in the fourth stage of its presale LNEX tokens are selling out fast. Since Lunex Network has already managed to raise more than 1,270,000 USDT in record time, analysts are tipping at a massive 1800% price surge as more traders are expected to jump ship to Lunex Network ahead of the upcoming bull run. 

For now, LNEX tokens are selling for a surprisingly low price of only $0.0017 each, making it an ideal investment opportunity for savvy traders who are looking for big gains. 

You can find more information about Lunex Network (LNEX) here:
Website: https://lunexnetwork.com
Socials: https://linktr.ee/lunexnetwork

Disclaimer: This is a paid release. The statements, views and opinions expressed in this column are solely those of the content provider and do not necessarily represent those of Bitcoinist. Bitcoinist does not guarantee the accuracy or timeliness of information available in such content. Do your research and invest at your own risk.

From Dogecoin to Pepe, meme coins have left an indelible mark on crypto and global markets. Their unique aesthetics make them unforgettable to traders, but their market value truly sets them apart. Meme coins have survived and thrived in the crypto trade for years. While the memes might draw in initial investors, the steady appreciation keeps crypto traders returning for more.

Now, a new meme coin is making waves. RIBBIT ($RBT), a crypto token founded by meme coin master Solana Bateman, is set to become the first Solana meme coin to reach a value in the millions. Investors should take note of this rising cryptocurrency’s unique selling points. As RBT approaches a super cycle, investors could see substantial returns.

Solana Bateman has already made a mark on the meme coin market by launching successful crypto projects. Dogwifhat ($WIF) is the most successful of these. As detailed in an article by Bitstamp Learn, WIF was inspired by the popular collection of Shiba Inu dog-based memes. Its name derives from the assertion that its mascot is just a dog “wif a hat.”

Although WIF was a relative latecomer amid dog-based memes, having just launched in late 2023, it has rocketed to success. Now that it has reached a $5 billion market cap, WIF sits comfortably on the charts, ranking as the fourth-highest-performing meme coin.

Solana Bateman now brings this expertise and proven track record to RBT. As reported by Coin Market Cap, RBT was introduced as the first frog-related coin on the Solana blockchain. It was created to educate crypto investors about the Solana ecosystem and the benefits of the blockchain.

RBT can be traded on various decentralized exchanges, making it an accessible choice within the crypto market with high liquidity and exchangeability. Rubic, a decentralized exchange and bridge aggregator, fuels the technology behind RBT. Rubic improves the trading experience by supporting switching between an extensive array of assets across various blockchains.

RBT boasts multiple security and integrity features that set it apart in the crypto market. It uses API calls to establish smart contracts between providers, ensuring secure integration with the blockchain.

Additionally, RBT funds remain secure in the investor’s wallet until transactions are complete, mitigating the risk of loss or theft by malicious actors. RBT offers integrated 24/7 support in the fast-paced crypto market, ensuring that investors are always in the game.

This cryptocurrency has been audited by MixByes, a leading player in blockchain security, providing investors with confidence in RBT’s security and effectiveness as a crypto coin.

As reported by Coin Codex, RBT first hit the crypt market in November 2023. Like most cryptocurrencies, it has undergone cycles of appreciation and depreciation. RBT now appears poised to enter a supercycle akin to what investors in major cryptocurrencies such as Bitcoin have enjoyed. As RBT makes this dramatic return, those who get on the floor before it rises have the potential to partake in the next luxury brand of crypto.

Potential investors should always perform thorough market research before purchasing cryptocurrency. With the expertise of a proven master of meme coins and the technology to back it up, RBT might be the next coin to watch. As this frog-faced coin splashes on the crypto charts, it can change the game of the meme coin market.

A closely followed crypto strategist and trader thinks Ethereum (ETH) is gearing up to ignite big breakout rallies.

Pseudonymous analyst Inmortal shares a chart with his 217,500 followers on the social media platform X suggesting that Ethereum will see one final dip before sparking a 75% surge to his target of $4,100.

“Call me crazy, but I think ETH is a good SPOT trade here.

Slower than SOL, but safer.” 

Zooming in on Ethereum, Inmortal notes that ETH has already broken out of its horizontal resistance on the low time frame.

“ETH showing the way.

Classic consolidation below resistance + higher lows.” 

At time of writing, Ethereum is trading for $2,668.

Turning to Ethereum challenger Solana, Inmortal shares a chart suggesting that SOL is mirroring its 2021 price action when it witnessed a lengthy consolidation period before a massive eruption.

“SOL.” 

In 2021, SOL consolidated for months below $60 before breaking out and rallying to its all-time high of $259. At time of writing, SOL is worth $166.

The analyst is also tracking the price action of the meme token Floki (FLOKI). According to Inmortal, FLOKI is flashing multiple bullish higher-low setups indicating that the memecoin is preparing for a breakout.

“It’s all right. We have the mountain now.

Consolidation below resistance + higher lows? This will end soon.

FLOKI go brrrr season.” 

Based on the trader’s chart, he seems to predict that FLOKI will jump to $0.00021. At time of writing, FLOKI is trading at $0.000151.

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Earlier today, Robinhood Crypto announced on X that it is expanding its offerings in Europe to now allow users in the European Union (EU) to transfer Solana (SOL-USD). In addition, users can earn a 1% bonus on deposits until November 30, 2024. This new feature adds to Robinhood’s support for over 20 cryptocurrencies, such as Bitcoin (BTC-USD) and Ethereum (ETH-USD), which were introduced to EU customers just a few weeks ago. As a result, shares of Robinhood (HOOD) gained in today’s trading.

Along with crypto transfers, Robinhood Crypto now allows staking for Solana directly in the app with an annual yield of 5.23%. Staking is a process where users can lock up their cryptocurrency to help maintain the blockchain network and, in return, earn rewards. Robinhood has seen good results with its Crypto platform in Europe. In fact, its user base has grown, with the most activity coming from Poland, Italy, and Lithuania.

However, this growth has come with regulatory challenges. In May, the SEC issued a Wells Notice to Robinhood Crypto, signaling that the regulator might take enforcement action against the company. A Wells Notice is essentially a formal warning from the SEC that it believes a company may have violated securities laws, giving the company a chance to respond before any potential charges are filed.

Robinhood Launches Margin Investing for Its UK Customers

In a separate development, Robinhood Markets also launched margin investing for its UK customers, which will allow them to borrow money to buy more stocks using their existing investments as collateral. Jordan Sinclair, president of Robinhood UK, said the new feature provides customers with greater flexibility to enhance their investment strategies. Robinhood is charging interest rates from 5.2% to 6.25% for this service, which the company says are some of the most competitive in the industry.

Is HOOD a Good Stock to Buy?

Turning to Wall Street, analysts have a Moderate Buy consensus rating on HOOD stock based on nine Buys, seven Holds, and one Sell assigned in the past three months, as indicated by the graphic below. After a 194% rally in its share price over the past year, the average HOOD price target of $24.62 per share implies 8.71% downside risk.

See more HOOD analyst ratings