The first SUI ETFs have started trading as fund issuers Canary Capital and Grayscale make their debuts. The Sui layer-1 blockchain was launched in 2023 as a so-called "Solana killer" because it uses Move, a programming language based on Rust, to provide high-speed transactions, instant processing, and scalability. The network operates on a delegated proof-of-stake consensus mechanism and has an upper limit of 10 billion SUI tokens. The Canary Stake SUI ETF is now trading on the Nasdaq under the SUIS tic ...

Core Viewpoint - Trump Media is significantly increasing its involvement in the cryptocurrency space by filing with the SEC to launch two new crypto-linked ETFs focused on Bitcoin, Ether, and Cronos, targeting active traders seeking exposure and potential yield through staking rewards [1][2]. Group 1: ETF Details - The new ETFs will be managed by Yorkville America Equities and offered through Foris Capital, indicating a strategic partnership with Crypto.com [2]. - The Truth Social Bitcoin and Ether ETF is structured to hold approximately 60% Bitcoin and 40% Ether, with plans to stake the Ether portion for rewards [4]. - The Cronos Yield Maximizer ETF aims to track the performance of Cronos (CRO) while generating income through staking on the Cronos network [4]. Group 2: Market Context - The launch comes at a time when U.S. spot Bitcoin ETFs have experienced four consecutive weeks of outflows, totaling over $360 million, reflecting institutional caution in the market [2][5]. - Despite the current market downturn, some large asset managers are quietly increasing their exposure to cryptocurrencies, viewing the dip as a long-term opportunity, which aligns with Trump Media's strategy [3]. Group 3: Fund Structure and Fees - The proposed ETFs will have a management fee of 0.95%, positioning them as active, premium investment vehicles rather than low-cost, passive trackers [5].

Core Insights - Ethereum's staking landscape has experienced a significant shift due to institutional investments, particularly from BitMine and new ETFs, leading to a bottleneck in the network [1][2] - The influx of institutional capital has resulted in a record-high entry queue of 1.7 million ETH, the highest since 2023, despite low staking yields [2][3] - The introduction of regulated US financial products, such as the Grayscale Ethereum Staking ETF and 21Shares' TETH ETF, has successfully passed protocol-level earnings to shareholders [3] Institutional Investment - BitMine has allocated over 1 million ETH (approximately $3.2 billion) into Ethereum's proof-of-stake system, representing about 25% of its total corporate treasury [2] - The arrival of regulated financial products has contributed to the institutional momentum in Ethereum staking, even as staking rewards have decreased [3] Staking Yields - The annual percentage rate (APR) for Ethereum staking reached an all-time low of 2.54% earlier this year but has slightly recovered to 2.85% [4] - Over the past year, the average APR for Ethereum staking was above 3.0%, indicating a willingness among investors to stake despite lower returns [5] Market Concentration - Staking control remains concentrated among a few entities, with Lido DAO holding 24% of all staked Ether, followed by Binance at 9.15% and Ether.fi at 6.3% [6] - Coinbase, the largest US-based crypto trading platform, controls 5.08% of the staked Ether [6] - Approximately 27% of the network's total stake is controlled by untagged entities, highlighting the presence of anonymous actors in the staking ecosystem [7]

Core Viewpoint - Grayscale Ethereum Staking ETF has made a significant distribution of staking rewards to shareholders, marking a historic moment for both Grayscale and the Ethereum community as the first U.S. spot crypto ETP to do so [1][4]. Distribution Details - Shareholders of Grayscale Ethereum Staking ETF (Ticker: ETHE) will receive a distribution of $0.083178 per share, based on staking rewards earned from October 6, 2025, to December 31, 2025 [2]. - The payout will be made on January 6, 2026, to investors who held shares as of the Record Date, January 5, 2026 [2]. Company Innovations - Grayscale has positioned itself as a leader in the digital asset space by enabling staking for its Ethereum products, with ETHE being the first Ethereum ETP to facilitate staking in the U.S. [4]. - The company aims to expand staking capabilities to additional products while focusing on education and transparent reporting for investors [5]. Company Background - Grayscale, founded in 2013, is the largest digital asset-focused investment platform with approximately $31 billion in assets under management (AUM) as of September 30, 2025 [6][7]. - The company provides various investment products, including single asset, diversified, and thematic exposure to the digital economy [6].

Core Insights - BlackRock is launching the iShares Staked Ethereum Trust ETF, marking its first U.S. product that provides direct staking exposure for institutional investors, reflecting a growing demand for yield-generating crypto strategies [1][7] - The trust will issue shares that represent fractional beneficial interests in its ether assets, capturing both ETH price performance and staking rewards, which are intended to enhance net asset value [2] Custody and Administration Structure - The trust will utilize a multi-custodian structure, with Coinbase Custody Trust Company serving as the ETH custodian and The Bank of New York Mellon acting as cash custodian and administrator [3] - Anchorage Digital Bank is included as an additional custodian, enhancing regulatory oversight and redundancy, while BlackRock Fund Advisors will act as trustee [4] Staking Operations - The trust will not operate its own validator infrastructure but will rely on approved third-party staking service providers, with allocations based on provider performance and reputation [5] - Staking operations may involve affiliates of the custodians or other regulated partners, with both reward potential and slashing risk being significant considerations for investors [5] Market Trends - The filing indicates a strategic shift in institutional demand towards yield-bearing crypto products, moving beyond traditional price-only products [7] - If approved, the ETF could help clarify the classification of staking rewards, a topic currently under discussion in U.S. regulatory circles [7]

The Cosmos community has released a proposal to start researching and gathering ideas for a new tokenomics model for ATOM. The core model should be revenue/fee-based. Key ideas include:- Gradually increasing staking rewards to favor long-term stakers- Reducing inflation- Unifying the ecosystem around ATOM as the reserve, gas, and settlement asset- A variable inflation model tied to accumulated fees https://t.co/he2YQuHarw ...

Core Insights - Ethereum experienced a significant decline of approximately 45% from its all-time high of $4,950 in August to around $2,700 in November, reflecting deeper structural concerns regarding Layer 2 growth and its impact on ETH's value capture [7][9][8] - Solana's annual revenue reached $2.85 billion, indicating strong network usage and institutional interest, particularly following the launch of Solana ETFs which attracted over $380 million in net inflows within three weeks [6][7][22] - The competitive landscape between Solana and Ethereum is evolving, with Solana focusing on speed and retail flow while Ethereum emphasizes security and institutional structure, leading to a widening gap in their market positions [15][16] Ethereum Performance - Ethereum's price fluctuated between $3,900 and $4,200 in October before declining further in November, driven by fragmented Layer 2 activity and overall market weakness [8][9] - Long-term holders and institutions continue to accumulate ETH, viewing the price pullback as an entry opportunity despite the declining economic engine [9] Solana Performance - Solana opened 2025 with strong momentum, reaching an all-time high of nearly $295 in January, driven by increased trading activity and a surge in daily transaction volumes [4] - Despite a pullback to around $156 in July, Solana maintained strong network fundamentals with monthly revenues exceeding $150 million [3][11] - The launch of Solana ETFs in late October 2025 marked a significant milestone for institutional access, with the first ETF attracting $57 million on its first day [22] Revenue and Usage - Solana's revenue mix shows that nearly half of its $2.85 billion annual revenue comes from trading and DEX activity, indicating actual network usage rather than speculative hype [11][12] - High-frequency traders favor Solana for its rapid settlement and low costs, contributing to sustained monthly fees of $150-$250 million even after the initial memecoin trading frenzy [12][13] Competitive Dynamics - Solana's monolithic design and Proof of History mechanism allow for rapid execution and high throughput, making it suitable for high-frequency trading and memecoin launches, while Ethereum's modular approach leads to slower execution and fragmented user experience [16] - Solana processes over 3 million daily active addresses, while Ethereum's high costs deter retail users from the mainnet, leading to reliance on Layer 2 solutions [17] - The developer ecosystem on Solana is expanding, particularly in gaming and NFTs, while Ethereum's developer base is stretched across multiple Layer 2 networks, slowing progress [18] Future Predictions - Bullish scenarios for Solana suggest a new growth phase with increased institutional inflows and user activity, potentially pushing SOL prices to the $250-$340 range [26] - Ethereum may benefit from stronger Layer 2 demand, with price predictions ranging from $4,200 to $5,000 under favorable market conditions [27] - Bearish scenarios for both networks indicate potential setbacks due to regulatory pressures and market conditions, with SOL possibly drifting to $130-$160 and ETH falling to the $2,600-$2,900 range [30][31]

Regulatory Landscape - IRS and Treasury clarify that trusts can generate staking rewards for crypto ETF investors without tax or regulatory concerns [1] Cryptocurrency Market - Staking rewards for crypto ETFs are now permissible for trusts [1]

🇺🇸 The US just opened the door for crypto ETFs and trusts to earn staking rewards.New IRS guidance gives exchange-traded products a clear path to stake digital assets. https://t.co/HX6lXXOQLU ...

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