Solana’s Treasury Nears $3B: Is This the End of Bitcoin’s Reign? 🤔

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In a stunning twist of digital fate, Grayscale has decided to team up with Figment to manage staking operations for their Ethereum and Solana products, just as the SEC’s looming ETF deadlines loom like a particularly aggressive asteroid. 🌌

According to a press release dated October 9 (which might as well be the day the universe decided to stop making sense), Figment will now be handling staking for Grayscale’s Ethereum ETPs and Solana Trust. Because nothing says “institutional-grade security” like trusting a company that sounds like a middle school band name. 🤷♂️

“Beyond returns, staking in ETPs enables holders to participate in securing and processing transactions for the blockchain,” said Lorien Gabel, CEO and Co-Founder of Figment. “It’s like joining a cosmic book club, but with more math and less existential dread.”

This revelation comes hot on the heels of a Bloomberg analyst confidently declaring Solana’s ETF approval a “near certainty” in September-because nothing says “reliable source” like a spreadsheet and a well-timed espresso. ☕

Grayscale’s plan to integrate staking rewards into ETPs is as ambitious as it is baffling. Now investors can generate passive income without even lifting a finger, which is either a miracle or a sign that the universe is out to get us. Either way, it’s probably on a blockchain. 🧾

StakingRewards data reveals that Figment is currently juggling staking services for 25 different Proof-of-Stake assets, with 39.1% of its $6.19 billion in staked assets comfortably nestled in Solana’s digital embrace. It’s like a financial version of a Russian nesting doll, but with more crypto and fewer babushkas. 🐯

Meanwhile, Solana’s treasury holdings have swollen to a hefty $2.9 billion, as investors nervously eye the SEC’s upcoming ETF verdicts. It’s like watching a reality show where the prize is a billion-dollar cryptocurrency empire, and the judges are wearing regulatory robes. 🎩

Solana Treasury Holdings as of October 9, 2025 | Source: CoinGecko. Because nothing says “financial stability” like a pie chart and a side of existential questions. 🥧

While Grayscale’s partnership with Figment is the digital equivalent of a slow-burning fire alarm, Solana has also attracted attention from new ecosystem entrants. America.Fun, for instance, has launched on Solana to “drive USD1 adoption,” which sounds suspiciously like a marketing campaign for a cryptocurrency that’s already been through three rebrandings. 🎢

On Thursday, Bonk’s partnership with World Liberty Financial (WLFI) and Raydium caused ripples in the stablecoin seas-though whether they’ll be waves of prosperity or tsunamis of confusion remains to be seen. Meanwhile, Aptos network confirmed USD1 adoption via Chainlink’s CCIP, attracting over $447 million in intraday trading volume. That’s either impressive or a very expensive typo. 💸

In Canada, Calgary-based Carbon Management firm DevvStream has staked 12,000 SOL ($2.7 million) in its portfolio, outpacing its Bitcoin holdings in a move that’s either a masterstroke of financial strategy or a very expensive bet on the Solana roulette wheel. 🎲

According to DevvStream’s statement, the firm aims to prioritize incremental income through SOL staking with a long-term view toward launching tokenized real-world assets for renewable-energy plants and energy-trading contracts. Because nothing says “sustainability” like tokenizing a solar panel and calling it a day. ☀️

In the end, it seems that Solana is not just a blockchain-it’s a cosmic circus where the clowns wear blockchain badges and the elephants are made of code. Buckle up, it’s going to be a bumpy ride through the fourth dimension of finance. 🚀

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2025-10-10 03:08