Senate Passes GENIUS Act, Advancing U.S. Stablecoin Regulation
Institutions Embrace Crypto: Galaxy Expands Liquid Staking Access, Senate Advances Stablecoin Bill, and VanEck’s Solana ETF Gains Momentum
Because Bitcoin
June 17, 2025
Galaxy Partners With Liquid Collective to Expand Institutional Liquid Staking Access
Galaxy and Liquid Collective have partnered to provide institutional access to liquid staking, starting with Ethereum’s LsETH and later expanding to Solana. The move follows SEC guidance in May confirming staking is not a securities activity. Galaxy will offer OTC support and serve as a node operator. Backed by firms like Coinbase and Kraken, Liquid Collective has over $700 million in total value locked. CEO Mara Schmiedt says the deal positions liquid staking for broader institutional adoption.
Senate Passes GENIUS Act, Pushing Stablecoin Regulation Closer to Reality
The U.S. Senate has passed the amended GENIUS Act in a 68-30 vote, advancing national regulation for payment stablecoins. Backed by Senator Bill Hagerty, the bill aims to modernize payment infrastructure and position the U.S. as a crypto leader. However, it still faces challenges in the House, where Trump’s ties to the crypto industry remain a point of contention. If passed, the legislation could unlock major growth in the stablecoin market, with companies like Apple and Meta reportedly eyeing token issuance.
VanEck’s Spot Solana ETF Listed by DTCC, Signaling Possible SEC Approval
VanEck’s proposed spot Solana ETF, ticker VSOL, has appeared on the DTCC’s prelaunch ETF list, suggesting potential SEC approval may be near. While the fund can’t yet be created or redeemed, its listing marks a key procedural step. Bloomberg analysts expect approval within months. The SEC has already approved spot Bitcoin and Ethereum ETFs and is reviewing others. Experts see Solana as a strong candidate due to its growth, CME futures listing, and active lobbying.
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