🙏 Pavel Durov in his Telegram channel mentioned the TapSwap mini-application, which, according to him, without any marketing, gathered a base of 56 million players

Notcoin, Yescoin, TapSwap and other tap-to-earn games are really on the wave of popularity now. Although I don’t particularly like the TON ecosystem precisely because of a bunch of useless applications (they’re not even dApps), perhaps this is its calling: simple mini-games accessible to a wide audience, combining Web2 and Web3 🥴

💵 How are asset managers doing?

Over the past two days, American Bitcoin funds have finally raised $52 million: even if this does not eliminate the outflow for Monday, and BlackRock remains dormant, we are in for an interesting week ⬇️

❗️ VanEck, the first company to file for an ETH ETF, continues its pioneering path, now with a spot ETF on Solana

In fact, there has already been a product on the market since 2021 that invests in SOL, this is a trust from Grayscale

🤔 What is the difference between a trust and an ETF?

The main differences are structure (a trust is a closed-end fund, while an ETF is an open-end fund; the number of shares of an ETF can increase as demand grows, while the number of shares of a trust is fixed), liquidity (the premium and discount of a trust are much higher than that of an ETF), in commissions (management fees for the trust are an order of magnitude higher than for ETFs), and in redemption periods (the process of redeeming trust shares can take up to several weeks)

Additionally, it should be mentioned that unlike ETFs, which require SEC approval, trusts, due to their closed structure, are governed by state-specific laws

❓ What do we know?

VanEck filed an S-1 registration form for its SOL ETF for the first time in US history, capitalizing on the success of the Ether ETF

Since this is not a 19b-4 filing, there is no SEC deadline yet (after 19b-4 the deadline for a decision will be 240 days)

Director of Digital Assets VanEck stated that SOL is a commodity like BTC and ETH due to its functionality, including paying on-chain fees in SOL, rewarding validators and decentralizing nodes. These characteristics fully correspond to the definition of a digital commodity, like Bitcoin and Ethereum

⛔️ What are the barriers?

1. Lack of SOL futures on the CME (BTC and ETH have been available since 2017 and 2021, respectively), which may make it difficult to approve a spot ETF

2. SEC classification of SOL as a security in June 2023, which led to the removal of the coin from the list of traded cryptocurrencies by broker Robinhood

At the same time, after the SEC's investigation into ETH and MetaMask developer ConsenSys is closed, VanEck and its Solana ETF have the opportunity to put an end to the conflict between the SEC and the industry


🆙 SOL reacted to the event with an 8 percent increase

🤑 Ether ETF will be approved next week?

SEC could approve S-1 filings as early as July 4, sources tell Reuters

Executives at two companies awaiting the Commission's decision said the amendment process had progressed to only addressing "non-essential" issues.

A lawyer working with one of the issuers said that "we're probably only 1-2 weeks away from finishing touches."

In turn, Gary Gensler assured Bloomberg that the consideration of applications for the ETH ETF is “going smoothly,” without specifying the date of approval

💰 Coinbase sues SEC for refusing to disclose information

The exchange's lawyers said that last year, under the Freedom of Information Act, they requested documents from the SEC about its investigations to understand how the Commission views its powers and why its position has changed 180 degrees since 2018. year, she publicly announced that ETH is not a security.

The SEC rejected this request.

The agency faces a fight on at least three fronts: DEX, wallet developer and CEX

1. Uniswap, which the SEC considers an unlicensed broker and sent it a Wells Notice

2. ConsenSys, despite the closure of the investigation into ETH, will continue to fight for the right to stake and exchange cryptocurrencies in MetaMask

3. Now Coinbase is added to this (Ripple does not count, its case has been going on for almost 4 years and is unlikely to end any time soon)