Markets

Each token is backed one-for-one by a share held through Securitize Markets, and the release's own disclosure says holders are not registered shareholders unless they convert. Trading opens in extended US hours on Solana, and the two venues the company points to next, the NYSE's 24/7 platform and the OKXICE tokenized securities venue, have not launched.

The contract has no expiry and uses funding payments between longs and shorts to track an index Kalshi calls the US 500. The exchange filed it with the CFTC in August, the reports disagree on what the agency then did, and its separate filings for perpetuals on single stocks are not trading.

The trust would list on Nasdaq under the ticker WINK and create and redeem shares only for cash, which the prospectus itself warns can loosen the link between the share price and net asset value. Its transfer agent, administrator and cash custodian are still blank.

US spot bitcoin funds took in about $2.39 billion over the week to September 25, and $1.71 billion of that arrived in the first two sessions, with inflows shrinking every day afterward. BlackRock's IBIT and Fidelity's FBTC together accounted for roughly four fifths of the total.

The CFTC docket records the submission as filing 2026-62, received Friday as a security futures listing under Rule 41.23(b), with the status shown as approval pending. The representative Apple contract is sized at a hundredth of the index, about $2.25 of exposure.

Brent settled at $94.65 and about $115 million of leveraged longs were closed inside an hour. The oil price, not the strikes, is what bitcoin is actually trading on.

ARKB accounted for $114.9 million of Friday's $201.9 million outflow, ending nine straight days of inflows totalling just over $3 billion. On Monday, IBIT alone supplied $205.9 million of the $216.7 million that came back.

The contracts go live on 17 September with USDT settlement, fractional lots and no 100-share minimum. SpaceX was already the most-traded equity perpetual in June at more than $66 billion of volume.

The fund converts a nine-year-old Grayscale trust holding roughly 390,000 ZEC and charges 2.50% a year, with the fee revenue routed back into Zcash development.

Bitwise's BSOL has taken $948 million of the $1.22 billion allocated to spot Solana funds since launch, leaving Fidelity, VanEck and the rest to divide the remainder.

A Treasury liquidity operation announced on 19 August, not a monetary pivot, triggered the biggest three-day bitcoin move since 2023. Short bitcoin positions built through months of range-bound trading were forced out at whatever bids remained.

The week ending Friday was the strongest for US spot bitcoin funds since October 2025. Fidelity took $293 million, VanEck's HODL bled $16 million.

The FETH prospectus amendment would let Fidelity stake up to all of the fund's ether, with 85 per cent of rewards flowing to shareholders as fiat rather than reinvested into the trust.

Ninety-seven per cent of the treasury company's quarterly loss came from a single mark-to-market line. New CEO Raphael Zagury told shareholders the pure-holder model is over.

The three-month annualised futures basis has fallen to roughly 3 per cent, below two-year Treasury yields, ending the market-neutral position that kept leveraged funds structurally short for years.

Across Protocol, Hashflow, PIVX, Vulcan Forged PYR, Vanar and Viction all lose spot pairs, futures, margin and Earn products in a phased shutdown that starts on 7 August and ends with an October withdrawal deadline.

The only comparable stretch on record ran from August 2022 into January 2023 and ended at the cycle low. Futures volume in July was just over $880 million against a February peak of $1.47 trillion.

The $18.07 million loan from Arch Lending matured Friday afternoon with no public repayment notice, and the company has not filed the collateral terms.

Roughly $14.56 billion has left USDT and USDC since mid-May, most of it in June. The GENIUS Act's yield ban is finally showing up in the supply data.