Bitwise Solana ETF Crosses $1 Billion Mark

Bitcoin fell 1.56% to $82,914.4 on Thursday, reaching a near three-week low, as rising oil prices and Treasury yields reduced investor appetite for crypto. Broader crypto prices also declined, with Bitcoin's decline unaffected by Strategy Inc's buying. The Fed's hawkish stance and Middle East tensions contributed to the downturn. Solana announced a partnership with Samsung, but its token fell 3.3%.

Solana has reduced its final slot time from 250ms to 200ms, effective at epoch 1053. This upgrade, part of a phased rollout starting at 400ms, aims to improve network efficiency and user experience, according to the company. The change is expected to enhance transaction speeds and position Solana competitively in the blockchain ecosystem.

Trader Peter Brandt observed a cup-and-handle pattern in Solana (SOLUSD) on the weekly chart. The Solana Foundation launched an open-source DvP settlement tool to reduce settlement times. Midnight aims to support Solana via Ledger v9 by the end of 2026, with mainnet timelines still uncertain.

CFTC and SEC jointly stated Bitcoin, Ether, and XRP are generally not securities, outlining a five-category taxonomy for crypto assets. The agencies proposed new rules for leveraged crypto trading, requiring registration for certain platforms. The move follows Congress's failure to pass crypto oversight legislation.

Crypto market lost over $100B in 24 hours, with Bitcoin (BTC) falling below $83K. Ethereum (ETH) and other major altcoins also declined. The selloff coincided with rising U.S. Treasury yields and a stronger dollar, leading to $700M in liquidations.

Solana Foundation launched Solana DvP, an open-source settlement tool for tokenized asset and payment transactions. JPMorgan Chase advised on securities settlement practices. The tool aims to replace custom settlement contracts, offering faster finality. SOL is trading at $120.86 as of Oct. 6.