Morgan Stanley's ETF Move Boosts Solana and Ethereum
Morgan Stanley's decision to list Solana and Ethereum ETFs on the NYSE Arca has sent a strong signal to the cryptocurrency sector. The investment bank has received green light for its Spot-Solana-ETF, which will have fees as low as 0.14% and plans to stake up to 100% of the underlying SOL holdings.
This move marks a significant development in institutional acceptance of cryptocurrencies. Meanwhile, other top coins are struggling with their own challenges. Bitcoin has stabilized at around $64,650 after a difficult first half of the year, while Ethereum has seen a surge in ETF inflows and is now trading above its 50-day moving average.
However, XRP was the most volatile asset this week, with prices jumping on hopes of a US Senate vote on the CLARITY Act. Cardano also saw significant whale accumulation, but its price remains trapped between a descending trendline and its 20-day moving average.