KEYTAKEAWAYS
- Institutional adoption of cryptocurrencies is accelerating, with companies like Sol Strategies making significant SOL purchases and multiple states proposing Bitcoin reserve bills.
- The ETF landscape is evolving rapidly, with analysts predicting high approval probabilities for various cryptocurrency ETFs, particularly Litecoin and Dogecoin.
- Major market players and institutions are showing increased interest in crypto assets, despite some central banks maintaining cautious or negative stances.
CONTENT
Welcome to the CoinRank Crypto News Roundup. CoinRank will provide daily important crypto news in this column series, allowing readers to quickly obtain the latest crucial updates from the cryptocurrency market.
MORNING NEWS
1. Canadian Listed Company Sol Strategies Invests $5.05M in Additional SOL Purchase
Sol Strategies has acquired 24,374 SOL tokens between January 31 and February 7, 2025, for approximately $5.05 million at an average price of $207.33 per token. As of February 7, the company and its subsidiaries hold about 214,342 SOL, purchased at a total cost of $39.5 million, averaging $184.36 per token.
2. Bloomberg Analysts: Litecoin and Dogecoin Spot ETFs Most Likely to Gain Approval
Bloomberg Senior ETF Analyst Eric Balchunas predicts approval probabilities for 2025 spot cryptocurrency ETFs, with Litecoin (LTC) and Dogecoin (DOGE) leading at 90% and 75% respectively. Solana (SOL) follows at 70%, while XRP stands at 65%.
3. Sam Altman Responds to Musk’s $97.4B OpenAI Control Bid: “No Thank You”
OpenAI founder Sam Altman responded to Elon Musk’s $97.4 billion bid for OpenAI control with a witty counter: “no thank you but we will buy twitter for $9.74 billion if you want.” Musk replied by calling Altman a “swindler.”
4. North Carolina Introduces Strategic Bitcoin Reserve Bill
North Carolina has proposed legislation to establish a strategic Bitcoin reserve, potentially becoming the first U.S. state to officially purchase BTC.
5. Grayscale Files for Cardano ETF on NYSE
Cryptocurrency investment firm Grayscale has submitted an application to list a Cardano (ADA) ETF on the New York Stock Exchange. This follows their recent successful launch of a Bitcoin ETF and applications for Solana and XRP ETFs.
NOON NEWS
1. Pantera Capital Founder Expects Partial Shift of Global $500T Assets to Crypto This Year
Dan Morehead, Pantera Capital’s founder, discussed the potential impact of even a small fraction of the global $500 trillion in assets moving into cryptocurrencies. Based on recent conversations with institutions showing changed attitudes, he expects this shift to occur this year.
2. Ukraine Plans to Legalize Cryptocurrencies by Summer
Senior Ukrainian lawmaker Danylo Hetmantsev announced that Kyiv aims to legalize cryptocurrencies before summer, with the main legislative text already prepared. Key remaining issues include financial monitoring methods and taxation frameworks for crypto transactions.
3. ETF Issuer Osprey Seeks Review of Failed Lawsuit Against Grayscale
Osprey Funds has requested a Connecticut court judge to review the decision favoring Grayscale Investments in their $2 million unfair trade lawsuit. Osprey claims the February 7 ruling came prematurely and broadened exemptions under Connecticut’s Unfair Trade Practices Act.
4. Galaxy Digital CEO Predicts BTC on US Government Balance Sheet Within Six Months
Mike Novogratz, Galaxy Digital’s founder and CEO, predicted that Bitcoin will appear on the U.S. government’s balance sheet within six months. He also expects numerous companies to list on NYSE or NASDAQ by May or June, citing the new SEC leadership.
5. Florida Representative Proposes Second Bitcoin Reserve Bill Florida House Representative Webster Barnaby has introduced a second Bitcoin reserve bill, proposing to allow the state’s Chief Financial Officer to invest 10% of state funds in Bitcoin.
EVENING NEWS
1. Bloomberg Analysts Project 70% Probability for Solana ETF Approval by October 2025
Bloomberg analysts James Seyffart and Eric Balchunas estimate a 70% chance of Solana ETF approval by October 10, 2025, citing the SEC’s recent acknowledgment of Grayscale’s 19b-4 filing as a positive indicator.
2. Strategy Reports Near 50% Progress on $42B Bitcoin Purchase Plan
Strategy (formerly MicroStrategy), led by co-founder Michael Saylor, announced they’re approaching the halfway mark of their $42 billion Bitcoin acquisition plan, with the company’s stock rising 2% on Monday.
3. Polish Central Bank Rules Out Bitcoin Reserves “Under Any Circumstances”
NBP Governor Adam Glapiński emphasized that central bank reserve assets must be “absolutely secure,” categorically rejecting Bitcoin as a reserve asset. This aligns with ECB President Christine Lagarde’s recent similar stance.
4. Layer-1 Blockchains Dominate Social Media Discussion
According to Santiment data, top layer-1 blockchains account for 44.2% of social media discussions, while the top six memecoins represent only 4%, indicating a shift toward more fundamental market discussions.
5. Market Absorbs $142B BTC Selloff Since 2023 Without Price Decline
CryptoQuant CEO Ki Young Ju noted that despite significant selling pressure totaling $142 billion in Bitcoin since 2023, the market has maintained its upward trajectory, demonstrating strong buyer support.
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