Is That What The Color Green Looks Like? 🥸

SOL ETF with staking, some big moves in crypto, and more

Author

Jonathan Morgan
July 02, 2025

OVERVIEW

Is That What The Color Green Looks Like? 🥸

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

SOLANA
Solana Bags A Paycheck: SSK ETF Debuts With 7.3 Percent Yield 😎

Solana fans woke up smiling as the REX-Osprey Solana + Staking ETF ($SSK ( ▼ 2.52% )) opened for business today and started cutting a 7.3% annual check to holders. 🤯 

The fund mixes plain-vanilla spot SOL with an on-chain staking strategy, meaning half the coins are out there earning yield while the rest stay liquid enough for fast trades. It also arrives in a C-corporation wrapper - uncommon in ETF land - but that quirk is exactly what cleared the runway for launch in record time.

Fast Facts ⏩️ 

  • Yield target: 7.3 percent APY (all paid out to investors)

  • Staking split: 50% SOL staked, 40% percent via non-U.S. staking ETPs, and a dash of JitoSOL ($JITOSOL.X ( ▲ 4.43% )).

  • Structure: C-corp under the 1940 Act

  • Expense ratio: 1.40 percent (0.75 percent management, 0.65 percent estimated tax).

  • Custody & staking: Anchorage Digital

  • Opening-bell volume: About $9 million in the first half-hour

Why SSK Could Sit Nicely In TradFi Portfolios 🏦 

  • One-ticket staking. Grab spot SOL and yield without setting up a validator, sweating key management, or explaining slashing to your accountant.

  • Reg-speed green light. The C-corp format skipped the usual 19b-4 slog, so investors are getting in months earlier than the pending crop of spot Solana ETFs.

  • Yield in plain sight. Rewards flow back as dividends.

Things That Make You Go Hmmmm 🤔 

  • Taxed twice. I know what you’re thinking. ‘Hey, this isn’t real staking and the corporate taxes touch the staking rewards before we see them!’ Yea, that’s true. But until the SEC stops treating staking like the FDA does Schedule II Drugs, I’m thrilled the folks behind behind SSK went the creative route to give hodlers something.

  • Sticker price. 1.40 percent in total expenses is competitive versus futures-based rivals but still pricier than do-it-yourself cold-wallet staking. But for TradFi folks who can’t or won’t copy/paste wallet addresses, 1.4% for access to SOL yields seems pretty damn reasonable. Just my opinion.

How It Moved 🚶 

SSK 5-Minute Chart - Click to enalrge.

1.31M shares traded and a +1.69% gain for the day. 🎯 

TL;DR 📕 

SSK hands over yield, liquidity, and a tidy brokerage-account wrapper, minus the wallet tinkering. Investors who want Solana exposure with passive income get a plug-and-play solution. 🔌

TECHNICAL ANALYSIS
Big Recoveries Today 😯 

It always feels good when a market that’s done nothing but bleed out slowly finally gets a reprieve. Whether it lasts is anyone’s guess. But some big movers today wiped out many days worth of losses.

Cardano Daily Chart - Click to enlarge.

And as of 4 PM EST, the current daily close for many crypto tickers is looking nice and green.

  • Bitcoin - just logged its best daily close since June 9, brushing off three drab weeks like they never happened.

  • Cardano - nailed a 12-day high and, more importantly, on track for its strongest daily close in the same stretch.

  • Ethereum - Highest finish in 20 days, thank you very much.

  • Decentraland - pushed to an 11-day peak.

  • Reserve Rights - chalked up its firmest close in three weeks./

  • Sui - flexed with a 16-day high.

Let’s see what the rest of today looks like before everyone takes off early for the long weekend. 🎆 

NEWS
Tokens Without Tears: Liquifi Slides Into Coinbase Prime

Coinbase is acquiring Liquifi, the leading token management platform for early-stage teams building onchain. 👍️ 

  • Liquifi already handles token cap tables, vesting, and compliance for Uniswap Foundation, OP Labs, Ethena, Zora, and 0x.

  • Deal price? Coinbase kept that number in the witness-protection program - “undisclosed” is the official line.

  • Fifth Coinbase acquisition this year, so Brian Armstrong’s shopping cart clearly has no daily limit

What Liquifi Brings To The Party

  • Automation, not aspirin - one dashboard replaces the usual soup of spreadsheets, janky vesting scripts, and late-night lawyer emails.

  • Pre-launch hand-holding - founders get compliance guardrails before a token ever hits an exchange.

  • Plug-and-play with Prime - Liquifi’s guts drop straight into Coinbase Prime, tightening custody, trading, and financing into one pane of glass.

Bigger Picture

  • Coinbase wants a billion humans onchain; lowering the legal-tax-compliance bar fight is step one

  • Employees get cleaner token comp packages, investors track positions like regular equity - no more wallet-hunting at tax time

  • Vision: launching a token should feel easier, faster, and way more global than handing out startup stock certificates 📜 

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NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙

🏛️ Aptos Flexes $540 M in RWAs, Calls Itself TradFi’s New Bunker

BlackRock, Franklin Templeton, and PACT shove credit portfolios on-chain while bragging about sub-second finality. Move language touts safety perks over Solidity and compliance baked right into tokens. Wall Street loves it - until they realize DeFi DJs can now ape their mortgage book. Aptos.

🦄 Sui Overflow Hackathon Showers 46 Teams With Fun Money

Four dozen projects split nearly a million bucks, with Suithetic faking data for AI and MoonBags gamifying token launches. Entertainment and Culture drew the most entries because Degens gotta degen. Sui.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🦇 Brave Rewards 3.0 Adds Golf Towels, Domain Names, and Ubisoft Skins

Over 88M users now see BAT plastered on merch, Decentraland masks, and live petanque at EthCC. Bandit fires a $1M growth fund through Brave Ads while 6,200 .brave domains mint on Unstoppable. Sure, attention is currency - but apparently towels convert better than banner clicks. Brave.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🔄 Zilliqa 2.0 Says ‘Unstake, Restake, Don’t Screw It Up’

Nothing like a forced migration to remind holders decentralization still comes with paperwork. Legacy stakers must yank funds from Zillion and push them into the fresh EVM platform or watch rewards vanish. Bring ZilPay, MetaMask, and 400 spare ZIL for gas or enjoy customer-support purgatory. Zilliqa.

⚔️ UniswapX Fights Failed Swaps by Ditching Gas Fees

Maybe DeFi isn’t broken - just your choice of DEX? Dutch auctions shield trades from MEV, private routing hides orders, and a 99.5% fill rate beats rage-refreshing Etherscan. Gasless refunds mean you only lose pride when slippage nukes a deal. Uniswap.

🔮 Band Protocol Pipes Oracles Into XRPL’s New EVM Toy

XRPL sidechain picks up Band’s cheap, fast feeds for BTC, ETH, and XRP prices. Partnership with Peersyst and Axelar sets up multichain data slinging. Hope devs enjoy accurate numbers while everyone else still argues about Ripple’s legal bills. Band Protocol.

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋