Wednesday Top Crypto News
In one short thread…
The U.S. Senate passed the GENIUS Act on June 17 in a 68-30 vote, marking the first major crypto legislation to clear the chamber
The landmark bill establishes federal guardrails for U.S. dollar-pegged stablecoins and creates a regulated pathway for private companies to issue digital dollars with the blessing of the federal government
The bill now moves to the House, which must decide whether to advance its own version or take up the Senate’s bill
U.S. Treasury Secretary Scott Bessent stated that the stablecoin market could reach $3.7 trillion by the end of the decade.
With the successful passage of the GENIUS Act, demand for U.S. Treasuries from the private sector is expected to increase significantly, helping to lower government borrowing costs, curb national debt growth, and facilitate global consumer access to the dollar-based digital asset ecosystem.
On June 17, spot Bitcoin ETFs saw a total net inflow of $216 million, marking seven consecutive days of net inflows
Spot Ethereum ETFs recorded a total net inflow of $11.09 million
VanEck’s highly anticipated spot Solana ETF has appeared on the Depository Trust and Clearing Corporation (DTCC) listings, a strong signal that regulatory approval could be approaching
The ETF, identified under the ticker VSOL, now shows up on DTCC’s official list
While inclusion doesn’t guarantee regulatory clearance, it typically signals backend preparations in anticipation of a green light from the U.S. SEC
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