Bitcoin has regained its position above $56,000, reaching a high of $57,275. Solana, the U.S. blue-chip public chain known as the "Ethereum killer," rebounded and surged nearly 8%.
The exchange compared the products to the ether and bitcoin spot ETFs the agency approved over the past year. “Much like bitcoin and ether, the exchange believes that SOL is resistant to price manipulation and that other means exist to protect against fraudulent and manipulative acts and practices that justify the elimination of the required surveillance sharing agreement,” the exchange said in both filings.
VanEck filed a registration statement for the Solana ETF in late June, and 21Shares soon followed suit with its own Solana ETF. Few are saying these products will be an instant success, in part because the SEC said SOL is a security.
ETF Store President Nate Geraci said on Twitter that the next steps include the SEC's acceptance of the 19B-4 filings. "Once the SEC accepts these filings, the decision clock starts ticking," Geraci said.
German government transfers 10,000 bitcoins to exchange, rare "return"
The German government transferred more than 10,000 bitcoins to exchanges and market makers on Monday morning, but later in the day, the exchanges returned nearly 3,000 bitcoins. According to Arkham Intelligence data, Germany has received 2,898 bitcoins, about $163 million, mainly from Coinbase, Kraken and Bitstamp.
Steven Zheng, head of research at The Block, said that the exchange most likely sent the Bitcoin back to Germany because it could not sell it within the target price range. He explained: "Considering that some Bitcoins have been sent back to the German government from Coinbase, one can assume that they are unsold Bitcoins that were part of a sales agreement between the cryptocurrency exchange and the country."
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Major cryptocurrency transfers out of Germany on Monday included 5,200 BTC to market maker Flow Traders, 4,200 BTC to B2C2 Group, 2,350 BTC to Bitstamp, 2,050 BTC to Coinbase, and 1,250 BTC to cryptocurrency exchange Kraken.
Republicans promise to stop cryptocurrency crackdown
The Republican Party under Trump has formally adopted a platform seeking to support cryptocurrency innovation, according to a document released by the Republican National Committee on Monday. The platform is intended to outline the priorities of Trump and Republican congressional candidates as they enter the November election and reflects the party's growing interest in digital assets.
“The Republican Party will end the Democratic crackdown on cryptocurrency as illegal and un-American and oppose the creation of a central bank digital currency,” the document states.
We will defend the right to mine Bitcoin and ensure every American has the right to custody their own digital assets and conduct transactions free from government surveillance and control.”
In recent months, Trump's skepticism about cryptocurrencies has turned into firm support. He also has some personal experience with digital assets, launching several sets of his own branded non-fungible tokens (NFTs). In addition, Trump's campaign team and affiliated political action committees also accept cryptocurrency donations.
The commission’s announcement of its new platform lists 20 of its most important policy “commitments,” but cryptocurrency projects are not among them, though digital assets appear in the economic section under innovation initiatives.
