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[2] P. Stafford, “Big banks strike deal to move to solana blockchain,” Financial Times, May 22, 2025.

[3] “Invesco Galaxy Solana ETF,” SEC. Accessed: Jun. 30, 2025. [Online]. Available: https://www.sec.gov/Archives/edgar/data/2074409/000206159025000093/s1.htm

[4] “Canary Solana ETF,” SEC. Accessed: Jun. 30, 2025. [Online]. Available: https://www.sec.gov/Archives/edgar/data/2041869/000199937124014193/solana-s1_103024.htm

[5] “Canary Marinade Solana ETF,” SEC. Accessed: Jun. 30, 2025. [Online]. Available: https://www.sec.gov/Archives/edgar/data/2041869/000199937125007760/solana-s1a_061325.htm

[6] “CoinShares Solana ETF,” SEC. Accessed: Jun. 30, 2025. [Online]. Available: https://www.sec.gov/Archives/edgar/data/2073298/000199937125007779/solana_s1-061325.htm

[7] “Franklin Solana ETF,” SEC. Accessed: Jun. 30, 2025. [Online]. Available: https://www.sec.gov/Archives/edgar/data/2057388/000206159025000090/s1a.htm

[8] “Grayscale Solana Trust (SOL),” SEC. Accessed: Jun. 30, 2025. [Online]. Available: https://www.sec.gov/Archives/edgar/data/2057388/000206159025000090/s1a.htm

[9] “Solana ETF approved by July 31?,” Polymarket. Accessed: Jun. 30, 2025. [Online]. Available: https://polymarket.com/event/solana-etf-approved-by-july-31-2025

[10] “Solana Network Health Report: June 2025,” Solana. Accessed: Jun. 30, 2025. [Online]. Available: https://solana.com/tr/news/network-health-report-june-2025

[11] “Solana’s TVL Doubles in 2025, Firedancer Upgrade Boosts Network Speed,” Ainvest. Accessed: Jun. 30, 2025. [Online]. Available: https://www.ainvest.com/sign-in/

[12] “Solana Validators | www.validators.app.” Accessed: Jul. 08, 2025. [Online]. Available: https://www.validators.app/validators?locale=en&network=mainnet

[13] “Solana price today, SOL to USD live price, marketcap and chart,” CoinMarketCap. Accessed: Jul. 11, 2025. [Online]. Available: https://coinmarketcap.com/currencies/solana/

[14] Y. Yadav and B. Malone, “Stablecoins and the US Treasury Market,” Vanderbilt Law Research Paper, 2025, doi: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=5286924.

[15] J. Jung and B. K. Seo, “Exploring the impact of sentiment on the relationship between daily herding and investor attention in the cryptocurrency market,” Finance Research Letters, vol. 85, p. 107865, Nov. 2025, doi: 10.1016/j.frl.2025.107865.

This monthly mini-report is produced by GlobalStake for our partners in cooperation with the Kautz-Uible Cryptoeconomics Lab.

The Lab, located in the University of Cincinnati’s Digital Futures Building, brings together researchers, students, and companies to collectively explore the impact of blockchain technology and digital assets on the future economy. This report is curated by Truong “Jack” Luu, a PhD student and Digital Futures Fellow, and Michael Jones, PhD, Assistant Professor of Economics and Director of the Kautz-Uible Cryptoeconomics Lab.