Happy Friday! Binance Bytes is an initiative by the Research team to provide a quick round-up of the week.
![](https://public.bnbstatic.com/static/content/square/images/7315619a1b4b4264bfc93f3c68810293.png)
Highlights 🧵:
1/ The U.S. SEC has ended its investigation into Ethereum and will not take enforcement action against Consensys. This decision follows a lawsuit by Consensys, which argued that the SEC's actions were unwarranted since Ether is a commodity, not a security. Despite this positive outcome, Consensys stresses the need for clearer regulations in the crypto industry to prevent similar costly legal battles. The company seeks judicial clarity on the legality of its software offerings and urges the SEC to provide transparent regulations for the crypto sector.
2/ Microstrategy, the largest corporate holder of Bitcoin, disclosed that it has purchased an additional 11,931 Bitcoin between 27 April and 19 June for a total amount of nearly US$786M. This purchase follows the company's US$800M convertible notes offering to institutional investors, now bringing its Bitcoin holdings to a total of 226,331BTC worth nearly US$15B.
3/ 3iQ, a digital asset manager, has applied for a listing of a Solana exchange-traded product (“ETP”) on Canada's Toronto Stock Exchange, potentially making it the first Solana ETP in North America if approved. Named The Solana Fund (QSOL), this ETP aims to provide exposure to SOL and its daily price movements, with potential interest from SOL staking yields estimated at 6-8%.
Read out latest report: Navigating Crypto: Industry Map