Trading Desk Insights
Markets are kicking off the morning on a strong note following a wave of supportive macro headlines.
U.S. CPI for May came in at 2.4% YoY, slightly below the 2.5% forecast. Risk assets including equities and crypto popped on the release, as the print reinforces the narrative that disinflation remains on track. Despite lingering uncertainty around the inflation path, traders remain confident the Fed will begin cutting rates this year. The futures market now fully prices in two rate cuts, with the first expected in September and another in December.
On the geopolitical front, China and the U.S. reached a preliminary consensus on trade after two days of negotiations in London. Under the tentative framework, China would allow exports of rare earth minerals, while the U.S. would ease restrictions on advanced tech goods. This builds on the temporary tariff reductions agreed to in May, although a comprehensive deal is still pending. Meanwhile, rising long-end yields are stirring concerns around sovereign debt sustainability, especially as major economies continue to run expansionary fiscal policies.
ETH continues to benefit from the momentum in spot ETF flows with $460 million so far this month and over $1 billion since May, highlighting growing institutional interest. With stablecoins gaining traction among regulators and Ethereum acting as the core infrastructure for tokenization and settlement, ETH is well-positioned for structural upside. That said, price action looks somewhat overextended, opening the door for a tactical long entry into SOLETH. The pair is down 30% since May but could catch a bid soon, especially as Bloomberg reports that spot SOL ETFs could receive SEC approval within the next month.
Elsewhere, stablecoin regulation is back in focus. The bipartisan GENIUS Act which targets U.S. dollar-backed stablecoins, is under active debate in the Senate, with 122 amendments filed ahead of the June 11 cloture vote. While the bill aims to provide much-needed regulatory clarity, it’s also raising flags around potential systemic risks tied to stablecoin issuers’ Treasury exposure.
The News Room
Fortune 500 blockchain adoption hits 60% as institutions inject $50B into crypto funds in Q1
According to Coinbase’s Q1 “State of Crypto” report, 60% of Fortune 500 firms are now running on‑chain pilots—up from 5.8 to 9.7 projects per company year‑over‑year—with nearly 20% calling blockchain central to their future strategy. Executives across retail, healthcare, automotive, and food sectors are exploring use cases from payments to identity solutions, and half report rising blockchain capex. Institutional sentiment is equally bullish, with $50 billion flowing into the top 10 spot‑Bitcoin ETFs—double first‑year inflows of traditional ETFs—and $3.5 billion poured into Ethereum funds. Most institutions plan to increase crypto exposure in 2025, with many diversifying beyond BTC and ETH into tokenized real‑world assets
SEC reportedly fast‑tracks Solana ETFs: potential approval arrives within 5 weeks
Sources disclosed that the SEC has asked Solana ETF issuers to submit amended S‑1 filings clarifying in‑kind redemptions and staking procedures, with a promise to respond within 30 days. The amendments, structured under the expedited “C‑Corp” route, could see approvals for Solana spot ETFs—including limited staking capabilities—as soon as 3–5 weeks from filing. Bloomberg analysts note that while approval of altcoin ETFs was expected by October, this fast‑track process might see listings launch as early as early July
Blockchain Group wins approval for $11 B raise to execute aggressive Bitcoin acquisitions
On June 10, The Blockchain Group secured shareholder support (95%+ votes) to raise up to €10 billion (≈$11 billion) for Bitcoin acquisitions. This authorization expands far beyond its initial €300 million at‑market facility, empowering management to issue equity, bonds, warrants, or convertible instruments as needed. Already holding 1,471 BTC after a €69 million purchase, the Paris‑listed firm aims to become Europe’s most aggressive BTC buyer, with new board appointee Alexandre Laizet leading the expanded strategy through 2030
Crypto Charts
ETF Flow
Disclaimer
This research is for informational use only. This is not investment advice. Other than disclosures relating to Secure Digital Markets this research is based on current public information that we consider reliable, but we do not represent it is accurate or complete, and it should not be relied on as such. The information, opinions, estimates, and forecasts contained herein are as of the date hereof and are subject to change without prior notification. We seek to update our research as appropriate.
Any forecasts contained herein are for illustrative purposes only and are not to be relied upon as advice or interpreted as a recommendation. The price of crypto assets may rise or fall because of changes in the broad market or changes in a company's financial condition, sometimes rapidly or unpredictably. Past performance is not a guide to future performance, future returns are not guaranteed, and a loss of original capital may occur. Fluctuations in exchange rates could have adverse effects on the value or price of, or income derived from, certain investments. We and our affiliates, officers, directors, and employees, excluding equity and credit analysts, will from time to time have long or short positions in, act as principal in, and buy or sell, the securities or derivatives, if any, referred to in this research.
The information on which the analysis is based has been obtained from sources believed to be reliable such as, for example, the company’s financial statements filed with a regulator, company website, company white paper, pitchbook and any other sources. While Secure Digital Markets has obtained data, statistics, and information from sources it believes to be reliable, it does not perform an audit or seek independent verification of any of the data, statistics, and information it receives.
Unless otherwise provided in a separate agreement, Secure Digital Markets does not represent that the report contents meet all of the presentation and/or disclosure standards applicable in the jurisdiction the recipient is located. Secure Digital Markets and their officers, directors and employees shall not be responsible or liable for any trading decisions, damages or other losses resulting from, or related to, the information, data, analyses, or opinions within the report.
Crypto and/or digital currencies involve substantial risk, are speculative in nature and may not perform as expected. Many digital currency platforms are not subject to regulatory supervision, unlike regulated exchanges. Some platforms may commingle customer assets in shared accounts and provide inadequate custody, which may affect whether or how investors can withdraw their currency and/or subject them to money laundering. Digital currencies may be vulnerable to hacks and cyber fraud as well as significant volatility and price swings.
Contact Us
Sign up to receive more exclusive market coverage:
Start trading with Secure Digital Markets today by e-mailing:
trading@securedigitalmarkets.com