USDCrypto Funds Weekly Recap: Bitcoin ETFs Break Records, Solana ETF Approval Looms
BlackRock's Bitcoin ETF Hits $80 Billion in Just 374 Days as Bitcoin Surpasses $118,000
BlackRock's iShares Bitcoin Trust (IBIT) has achieved a record milestone, becoming the fastest ETF to reach $80 billion in assets under management in just 374 days, significantly outpacing the previous record of 1,814 days held by the Vanguard S&P 500 ETF. This surge coincided with Bitcoin's price surpassing $118,000, marking new all-time highs. Spot bitcoin ETFs experienced $1.18 billion in inflows on July 11, 2025, their second-highest daily total since inception in January 2024. Overall asset inflows for spot bitcoin ETFs crossed $140 billion, driven by increased institutional demand and favorable U.S. policy expectations.
SEC Urges Solana ETF Issuers to Refile, Signals Potential Approval by October
The SEC is urging Solana ETF issuers to amend their applications by the end of July, indicating a potential fast-track approval before the October 10 deadline. This move follows the approval of the REX-Osprey SOL Staking ETF, the first US-listed Solana investment product to include staking. Major firms like Grayscale, VanEck, and Franklin Templeton are among the applicants. Following the approval trends for Bitcoin and Ethereum, industry experts believe that Solana, along with Litecoin and XRP, holds a 95% chance of receiving ETF approval this year, expanding the range of approved spot crypto funds in the US market.
ProShares Launches Ultra XRP ETF (Ticker: UXRP) on DTCC, Plans Additional XRP and Solana Futures ETFs
ProShares has listed its Ultra XRP ETF on the DTCC under ticker UXRP, designed to deliver twice the daily return of XRP prices. The company plans to launch two additional XRP futures products—the Short XRP ETF and the UltraShort XRP ETF—targeting July 14, 2025, although this is subject to change. Previously, effective dates were postponed since the initial filing in January. ProShares also aims to introduce Solana-based ETFs. This move positions them alongside Teucrium Investment Advisors and Volatility Shares in the US crypto futures market, expanding their suite of leveraged and inverse ETFs.
Trump's Truth Social Files for Crypto ETF to Track Top 5 Coins
Truth Social, linked to Donald Trump, has filed for a spot cryptocurrency ETF called the Truth Social Crypto Blue Chip ETF, submitted to the SEC on July 8, 2025. The ETF aims to track a portfolio comprising 70% Bitcoin, 15% Ethereum, 8% Solana, 5% Cronos, and 2% XRP, with plans to list on NYSE Arca. This non-leveraged, passive fund will focus on transparency and simplicity, avoiding complex trading. It seeks to enhance yield through staking rewards on certain cryptocurrencies, with assets held by Foris DAX Trust Company, reflecting a trend of political engagement in the digital asset space.
UniCredit Launches Capital-Protected Bitcoin ETF Product for Italian Professionals
UniCredit has launched a capital-protected structured product linked to BlackRock’s iShares Bitcoin Trust ETF, aimed at Italian professional investors. Available from July 1 to July 28, this five-year investment mandates a minimum stake of $25,000 and offers full capital protection with returns capped at 85% of the ETF’s performance. This initiative addresses EU regulatory restrictions on local spot Bitcoin ETFs, representing a significant step for eurozone banks in providing indirect crypto exposure. UniCredit’s offering reflects increasing institutional demand for regulated cryptocurrency investments while mitigating volatility risks, with other banks also exploring similar financial products.
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