Curious Cryptos’ Commentary 30th October 2025 — Spot SOL ETFs & MSTR

tl;dr

Spot SOL ETFs have had a positive start. MSTR reports results today, perhaps leading to being included in the S&P 500.

Market Snap

Market Wrap

The Fed manipulated both the short end and long end of yield curve yesterday by cutting rates and announcing the end of QT (quantitative tightening), ahead of the restart of QE (quantitative easing) next May. These frequent interventions in the market pricing of interest rates by the hapless Chair of the Fed, Jerome Powell, raises the cost of capital for all businesses, making everyone poorer in the process.

Be gone with you, Sir!

Curious Cryptos’ Commentary — Spot SOL ETFs

Three spot SOL ETFs started trading on Tuesday, with $65mm of inflows, dominated by Bitwise’s product BSOL, which has attracted the most investment of any ETF launches in 2025, which is an encouraging sign. CIO of Bitwise, Matt Hougan, admittedly a touch biased perhaps, cheers everyone up with his prediction: