Minority Mindset

And just when you thought it couldn’t get any more exciting, Fidelity decided to join the party. They submitted their first S-1 filing for a spot Solana exchange-traded product. A source who probably has a better grasp of the situation than I do confirmed to The Block that this is Fidelity’s first official step toward launching a Solana-based fund. I mean, who knew they were so adventurous? Maybe they’re just trying to keep up with the cool kids. 😎

On Thursday afternoon, Bitcoin dropped 5.5% to the $102,000 support fueled by the news of the Iran-Israel conflict. Amid the market pullback, the flagship crypto failed to hold its $108,000-$110,000 three-day range, falling to the mid-zone of its post-November breakout range.

It was a streak that began humbly on May 16, untouched by the solemn pause of Memorial Day on May 26, quietly accumulating a staggering $1.37 billion — a sum representing over a third of the total $3.87 billion poured into these products since their inception. On June 11, the market cheered with its largest daily inflow in over four months, a dazzling $240.3 million.

In a recent post on X (formerly known as Twitter, because who doesn’t love a good rebranding?), the analytics firm Glassnode shared the latest gossip about the netflow related to US-based Ethereum spot ETFs. These “spot ETFs” are like the trendy new coffee shop that lets you sip on the experience without actually having to brew your own coffee. ☕