A lot of major events happened in crypto this week, as the Big Beautiful Bill passed, prompting another split between Elon Musk and President Trump. Robinhood unveiled tokenized stocks and other ambitious goals.
The first Solana staking ETF began trading on US markets, but the SEC delayed Grayscale’s altcoin basket product. All these stories and more are available at BeInCrypto.
Trump Signs Big Beautiful Bill Into Law
This week, a key piece of regulation with big implications for crypto passed, as Trump’s Big Beautiful Bill made it through the Senate and House of Representatives. Although many crypto- and AI-specific provisions did not survive the final version, the bill as it stands will nonetheless have massive implications.
Earlier today, on the Fourth of July, Trump finally signed the $3.3 trillion bill into law.
Of the many issues that the Big Beautiful Bill covers, massive tax cuts seem most salient to the crypto ecosystem. These cuts will not only encourage domestic crypto investment, but they’re also likely to substantially weaken the dollar.
By increasing the deficit and fiscal instability, the bill may encourage Bitcoin’s use as a store of value.
Trump and Musk Fallout Again
Of course, the crypto community is far from united on the Big Beautiful Bill. This week, Elon Musk warned supporters of its major potential downsides, sending shockwaves through the crypto market.
Musk is very concerned about the US deficit, as evidenced by his time at D.O.G.E., and he repeatedly warned that this bill could lead to a recession:
For the last several days, Musk has vowed to create a new political party if the Big Beautiful Bill passes. This could represent a more permanent political divorce from Trump, which might particularly impact the meme coin market.
So far, Musk is still running a social media poll about this third party, and his plans may not actually materialize.
Solana Staking ETF Begins Trading
In a lighter piece of crypto news, the US’ first Solana Staking ETF began trading earlier this week. The SEC gave positive signals regarding potential approval several days before, and the product is now live on regulated exchanges.
This represents a big breakthrough for the crypto ETF sector.
Unfortunately, the crypto ETF subsector also received some bad news this week. Although the SEC ostensibly approved Grayscale’s new basket ETF, containing several major altcoins, it initiated another delay soon after.
The Commission’s final deadline to approve such a product was July 2, but this unorthodox strategy may have given it a little more time.
It’s unclear why exactly the SEC decided to take this position. It’s also working on a streamlined ETF application process, which may help explain the situation. There are dozens of active proposals already, and nobody knows how they will interact with this newfangled mechanism.
Robinhood Launches Tokenized Stocks
This week, Robinhood unveiled its long-term plans for expansion in the crypto industry. The firm has been exploring this market for over a year, but its recent presentation at EthCC 2025 detailed very ambitious goals.
Robinhood plans to tokenize over 200 stocks and ETFs for the US and European markets, turning its crypto app into an all-in-one investment platform.
The firm also announced a few other goals, like its own Layer-2 blockchain, perpetual futures contracts for EU users, token staking for the US market, and more.
If accomplished, these milestones could help solidify Robinhood’s stature as a major presence in the crypto industry.
“Solana’s MicroStrategy” Goes All in on Acquisition
In a final piece of crypto news this week, DeFi Development announced a $100 million stock sale to fund Solana acquisition.
A huge number of corporations are buying Bitcoin, raising concerns of a bubble, but DeFi Development is the only firm to attempt a SOL treasury plan. Its stock value crashed when it announced this sale, but recovered throughout the week.
DeFi Development Price Performance. Source: Google Finance
Regardless of what happens, DeFi Development’s enterprise will yield valuable information about market appetites. As MicroStrategy-style corporate treasury plans take over the entire Bitcoin sector, an altcoin acquisition effort might shake everything up.
These stories are just a small selection of the major events that happened in crypto this week. As always, BeInCrypto stands ready to keep you informed of all market developments.
