Today, the cryptocurrency world saw significant developments. Invesco positioned as the ninth contender for a Solana ETF spot, while the US may soon evaluate crypto assets for specific home loans. Additionally, a regulatory disagreement between Ethena Labs and German’s BaFin has been settled with a 42-day redemption plan for USDe.
Invesco Joins Race for Solana ETF
Asset management giant Invesco has become the ninth company aiming to introduce a spot Solana (SOL) exchange-traded fund. The firm filed a registration statement with regulators in partnership with Galaxy Digital for the Invesco Galaxy Solana ETF. If approved, the fund will directly hold Solana, tracking its price and trading on the Cboe BZX exchange under the ticker “QSOL.” The ETF application is now in line with CoinShares, VanEck, Bitwise, Grayscale, 21Shares, Canary Capital, Franklin Templeton, and Fidelity Investments.
US Mortgage Regulator Acknowledges Crypto Assets
In a significant move towards mainstream crypto acceptance, US home mortgage purchasers Fannie Mae and Freddie Mac will now consider cryptocurrencies as assets in their risk assessments for single-family home loans. The directive means borrowers will not need to convert their crypto assets into US dollars, as was the earlier practice. This decision is in line with the Trump administration’s goal of making the US the global crypto capital.
Ethena Labs and BaFin Agree on Redemption Plan for USDe
Ethena Labs announced that it had finalized a redemption plan for USDe stablecoin holders with the German Federal Financial Supervisory Authority, BaFin, and Ethena GmbH, its German subsidiary. Following the implementation of the redemption plan, Ethena GmbH will have no outstanding issues associated with USDe-related operations. However, it remains unclear whether the company plans to re-enter the EU and EEA markets.
