On Monday, July 7, 2025, Dogecoin (DOGE) surged by 3.4%, leading the top ten cryptocurrencies by market capitalization. This increase followed Elon Musk's announcement of the "America Party," a new political venture. (Source: apnews.com, time.com, ft.com)
President Trump responded to Musk's political ambitions by suggesting potential punitive measures against Musk's companies. This included the Department of Government Efficiency (DOGE), previously led by Musk. The feud between the two intensified, raising concerns about Musk's enterprises. (Source: apnews.com, time.com, ft.com)
Simultaneously, on July 2, 2025, REX Shares and Osprey Funds launched the REX-Osprey Solana + Staking ETF (SSK). This was the first U.S.-listed ETF offering exposure to Solana (SOL) with staking rewards. The fund saw $12 million in inflows on its first day, demonstrating strong investor interest. (Source: apnews.com, time.com, ft.com)