Coinbase Global Inc. $COIN, the largest cryptocurrency exchange in the United States, continues to gain institutional credibility and market traction. Founded in 2012 and listed publicly in 2021, the company reached a major milestone in May by becoming the first crypto-native firm to be added to the S&P 500 Index $^SPX. Following this development, Cantor Fitzgerald has revised its 12-month price target for Coinbase from $253 to $292, citing both trading performance and expanding non-trading revenue streams.

Virtu Financial Inc. $VIRT, one of the world’s most prominent algorithmic trading and market-making firms, is exploring entry into mainland China’s financial markets, signaling a potential turning point for global participation in the country’s vast exchange-traded fund (ETF) segment.

Several financial firms have recently updated their applications with the U.S. Securities and Exchange Commission (SEC) to launch exchange-traded funds (ETFs) that would track the price of Solana $SOLUSD, a prominent cryptocurrency token. These amendments aim to respond to regulatory questions raised by the SEC, reflecting the heightened oversight the agency exercises over crypto-related investment products. Despite these efforts, sources indicate that the SEC shows no immediate intention to expedite approval of these Solana ETFs, underscoring ongoing regulatory prudence in the U.S. crypto market.