{"id":34955,"date":"2025-07-03T03:01:49","date_gmt":"2025-07-03T03:01:49","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=34955"},"modified":"2025-07-03T03:01:49","modified_gmt":"2025-07-03T03:01:49","slug":"asia-morning-briefing-sol-up-4-as-analysts-say-staking-etf-ssk-has-strong-launch","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=34955","title":{"rendered":"Asia Morning Briefing: SOL up 4% as Analysts Say Staking ETF (SSK) Has Strong Launch"},"content":{"rendered":"
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Good Morning, Asia. Here’s what’s making news in the markets:<\/strong><\/h2>\n

Welcome to Asia Morning Briefing, a daily summary of top stories during U.S. hours and an overview of market moves and analysis. For a detailed overview of U.S. markets, see CoinDesk’s Crypto Daybook Americas.<\/a><\/em><\/p>\n

The newly launched REX-Osprey Solana + Staking ETF (SSK)<\/a>, the first crypto staking exchange-traded fund (ETF) listed in the U.S., ended the day with $33 million in volume, with Bloomberg ETF analyst Eric Balchunas calling the launch better than the average ETF listing.<\/p>\n<\/p>\n

The ETF offers investors indirect access to Solana while earning staking rewards without needing technical expertise.<\/p>\n

While the volume was much lower than the launch of BTC and ETH ETFs, Balchunas noted that the trading volume was much stronger than recent Solana futures ETF<\/a> listings or XRP futures ETFs launches.<\/a><\/p>\n

SOL is trading above $150 on the news, up roughly 4%, according to CoinDesk market data<\/a>.<\/p>\n

In late May, the Securities and Exchange Commission ruled<\/a> that crypto staking does not violate securities laws, paving the way for issuers to offer such staking products.<\/p>\n

There’s no ETH staking ETF currently offered in the U.S., although 3iQ offers one<\/a> on the Toronto Stock Exchange.<\/p>\n

Hong Kong’s market regulator, the Securities and Futures Commission, released staking rules in April<\/a>, and local issuers offer ETH staking ETFs on the city’s stock exchange.<\/a><\/p>\n

\"(CoinDesk)\"<\/p>\n

BlackRock\u2019s Bitcoin ETF Now Out-Earns Its Flagship S&P 500 Fund<\/strong><\/h2>\n

BlackRock\u2019s iShares Bitcoin ETF (IBIT) is now generating more annual revenue than its flagship iShares Core S&P 500 ETF (IVV), according to a new report by Presto Research.<\/a><\/p>\n

IBIT, with just $75 billion in assets under management, is expected to bring in $187.2 million a year from its 0.25% fee. IVV, by contrast, holds a massive $624 billion but charges just 0.03%, yielding slightly less in absolute revenue.<\/p>\n

The difference isn\u2019t just a quirk of fee structures\u2014it\u2019s a window into how institutional investors view crypto exposure in 2025. \u201cIBIT\u2019s fees are 8.3 times higher than IVV\u2019s,\u201d Presto Research notes, \u201cbut investors are paying up.\u201d<\/p>\n

In a world where every basis point usually matters, the willingness to pay a premium for BTC via a trusted wrapper underscores just how early we are in crypto\u2019s institutional adoption cycle. As Presto points out, even Coinbase\u2019s base spot trading fee is higher, at 60 bps.<\/p>\n

IBIT\u2019s growth story also highlights the power of brand. Institutions want Bitcoin\u2014but they want it with BlackRock\u2019s name on the label. While S&P 500 ETFs have become commoditized, crypto ETFs still command premium pricing.<\/p>\n

With IBIT holding the lion\u2019s share of Bitcoin ETF market inflows, it\u2019s increasingly clear: the institutionalization of crypto isn\u2019t coming. It\u2019s already happening.<\/p>\n

Market Movements:<\/strong><\/h2>\n

BTC: <\/strong>Bitcoin surged 3.6% over 24 hours to break above $109,000, buoyed by strong volume, new support between $109,064\u2013$109,359, and improving global sentiment following the US-Vietnam trade deal despite continued Middle East tensions.<\/p>\n

ETH: <\/strong>ETH surged 8.6% to $2,608 in a high-volume breakout fueled by growing institutional interest and bullish momentum, forming new support at $2,565 and testing resistance near $2,617.<\/p>\n

Gold: <\/strong>HSBC raised its 2025\u20132026 gold price forecasts to $3,215 and $3,125 per ounce, citing geopolitical risks and strong investor demand, according to Reuters.<\/p>\n

Nikkei 225: <\/strong>Asia-Pacific markets traded mixed Thursday, with Japan\u2019s Nikkei 225 down 0.15%, as investors awaited details of the U.S.-Vietnam trade deal announced by President Trump.<\/p>\n

S&P 500: <\/strong>The S&P 500 rose 0.47% to 6,227.42 on Wednesday after Trump announced a U.S.-Vietnam trade deal, though a surprise drop in June private payrolls raised economic concerns.<\/p>\n

Elsewhere in Crypto:<\/h2>\n