Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Crypto News

Regulator Orders Fannie, Freddie to Consider Crypto Holdings in Loan Assessments

The regulator overseeing Fannie Mae and Freddie Mac on Wednesday ordered the housing giants to consider cryptocurrency as an asset for single-family mortgage loan risk assessments, a move that could potentially open the door to borrowers using crypto investments to qualify for home loans.

William Pulte, the director of the Federal Housing Finance Agency, said in a social media post that he had ordered Fannie and Freddie to "prepare their businesses to count cryptocurrency as an asset for mortgage," which he said would be in line with President Donald Trump's vision of making the U.S. "the crypto capital of the world."

The FHFA oversees Fannie Mae and Freddie Mac, which have operated under U.S. government control since 2008 after suffering heavy losses during the subprime mortgage crisis. They guarantee over half of the nation's mortgages.

Republic to offer tokenized SpaceX, other unicorn tracker security tokens

Crowdfunding platform Republic announced plans to offer “Mirror Tokens” that track the performance of unlisted unicorns including SpaceX and Anthropic. The security tokens will be available to global retail investors, including the US, for as little as $50. Republic has backing from major investors including Morgan Stanley, Founders Fund and Galaxy.

The offering targets smaller investors seeking access to high growth startups typically reserved for institutions and wealthy individuals. While these companies remain unlisted, their shares trade on private secondary markets, with those valuations used to price the tracker tokens.

Republic emphasizes that tokens like rSpaceX are not issued by SpaceX and do not represent company equity. Instead, they are loan notes issued by RepublicX with uncertain repayment dates. Token holders can redeem their investments if the underlying company goes public or gets acquired, and will receive accumulated dividends. Otherwise, investors face a one year lockup period before attempting to trade on Republic’s secondary market through its planned acquisition of INX token exchange.

Coinbase Stock “Misunderstood“, Could Skyrocket on Stablecoin Boom: Bernstein

Investment firm Bernstein called Coinbase a "misunderstood" company in a Wednesday note and upgraded its price target by 65% from a forecast just three months ago. 

Analysts wrote that the recent Senate approval of the stablecoin-related GENIUS Act, the company's wide-ranging initiatives and dominant position should boost the price to $510 by 2027. 

"The bear thesis on Coinbase has not played out," the note authored by Gautam Chhugani, Mahika Sapra, and Sanskar Chindalia read. "Coinbase's market share has been persistent despite new competition."

GameStop Boosts Potential Bitcoin Investment Fundraise to $2.7 Billion

GameStop, the prominent video game retailer that’s building a Bitcoin treasury, generated an additional $450 million in fundraising that it can use to buy BTC, according to a filing with the SEC. 

The raise boosts its previous convertible notes offering to $2.7 billion in total after the initial purchaser exercised its option to purchase the additional $450 million in 2030 notes. The offering was previously upsized from $1.75 billion to $2.25 billion. 

While plans for the net proceeds do not specifically mention Bitcoin, it gives room for the firm to purchase the top cryptocurrency.

Fintech Giant SoFi Is Bringing Back Bitcoin, Ethereum Trading

San Francisco-based financial services company SoFi will make its return to crypto later this year, offering its users the ability to trade and hold popular cryptocurrencies like Bitcoin and Ethereum, the firm announced on Wednesday. 

SoFi previously offered the capability to buy and sell crypto, and even acquired the notoriously difficult-to-obtain New York BitLicense in 2019—but the firm stopped offering crypto services in 2023 after “careful consideration.” 

The firm also mentioned plans to offer customers stablecoins in the future, along with crypto staking features, borrowing against their crypto holdings, and other services.

Invesco Files for Solana ETF to Tap Growing Demand for Bitcoin Alternatives

Invesco has filed for an exchange-traded fund tied to the spot price of Solana , according to a regulatory filing on Wednesday, as asset managers push to tap opportunities beyond bitcoin.

Solana is the sixth biggest crypto token by market value, according to data from CoinMarketCap. Other major altcoins include Ripple's XRP and Binance's BNB.

The Invesco Galaxy Solana ETF will be listed on the Cboe BZX exchange under the symbol "QSOL".

BNY will be the administrator and cash custodian, while Coinbase will hold all of the ETF's Solana, the filing showed.

The fees that Invesco plans to charge for the ETF were not disclosed.

Bitcoin Spot ETF Flow

The overall net inflow of the US Bitcoin spot ETF on Wednesday was $547.72 million. The total net asset value of Bitcoin spot ETFs is $133.56 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.23%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net inflow on June 25 was iShares Bitcoin Trust ETF (IBIT), with a net inflow of $340.28 million. Following that was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of 115.19 million, according to SoSoValue.

Source: SoSoValue