21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.com’s Cronos token, the asset manager said. 

The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a May 6 announcement. 

Cronos (CRO) is a layer-1 blockchain network affiliated with Crypto.com, a centralized exchange. 

The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support “decentralised finance (DeFi), NFTs, and Web3 applications,” 21Shares said. 

The ETP aims to provide investors with a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges,” 21Shares said. 

The CRO token’s historical performance. Source: CoinMarketCap

“By launching a Cronos ETP, we are offering investors […] regulated exposure to a blockchain ecosystem that is driving real-world adoption,” Mandy Chiu, 21Shares’ head of financial products development, said in a statement.

Related: Standard Chartered sees BNB more than doubling in 2025

The CRO token has a market capitalization of approximately $2.3 billion and a fully diluted value (FDV) of nearly $8.7 billion, according to data from CoinMarketCap. 

Cronos has a total value locked (TVL) of approximately $400 million, according to data from DefiLlama. 

Its DeFi ecosystem includes Crypto.com’s liquid Ether staking token, Crypto.com Staked ETH, which has nearly $64 million in TVL, the data shows. 

Cronos’ TVL. Source: DefiLlamaAltcoin ETFs abound

On May 5, asset manager VanEck filed to list an exchange-traded fund (ETF) in the US tied to yet another exchange-affiliated token. 

The VanEck BNB ETF is the first proposed ETF in the US holding BNB Chain’s native token, BNB. The chain is affiliated with Binance, the world’s largest centralized exchange. 

In the US, 21Shares has proposed ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL). 

Asset managers are seeking the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 cryptocurrency ETFs. 

The wave of filings has come as a result of US President Donald Trump softening the SEC’s regulatory posture toward crypto after taking office in January.

Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame

21Shares has launched an exchange traded product (ETP) in Europe, providing investors with exposure to Crypto.com’s Cronos token, the asset manager said. 

The ETP is listed on Euronext’s Paris and Amsterdam exchanges, 21Shares said in a May 6 announcement. 

Cronos (CRO) is a layer-1 blockchain network affiliated with Crypto.com, a centralized exchange. 

The chain is designed to integrate with the Ethereum and Cosmos ecosystems and support “decentralised finance (DeFi), NFTs, and Web3 applications,” 21Shares said. 

The ETP aims to provide investors with a “straightforward way to integrate CRO into their portfolios through traditional banks and brokers, eliminating the need to directly handle digital wallets or exchanges,” 21Shares said. 

The CRO token’s historical performance. Source: CoinMarketCap

“By launching a Cronos ETP, we are offering investors […] regulated exposure to a blockchain ecosystem that is driving real-world adoption,” Mandy Chiu, 21Shares’ head of financial products development, said in a statement.

Related: Standard Chartered sees BNB more than doubling in 2025

The CRO token has a market capitalization of approximately $2.3 billion and a fully diluted value (FDV) of nearly $8.7 billion, according to data from CoinMarketCap. 

Cronos has a total value locked (TVL) of approximately $400 million, according to data from DeFiLlama. 

Its DeFi ecosystem includes Crypto.com’s liquid Ether staking token, Crypto.com Staked ETH, which has nearly $64 million in TVL, the data shows. 

Cronos’ TVL. Source: DeFiLlamaAltcoin ETFs abound

On May 5, asset manager VanEck filed to list an exchange-traded fund (ETF) in the US tied to yet another exchange-affiliated token. 

The VanEck BNB ETF is the first proposed ETF in the US holding BNB Chain’s native token, BNB. The chain is affiliated with Binance, the world’s largest centralized exchange. 

In the US, 21Shares has proposed ETFs holding cryptocurrencies including Dogecoin (DOGE), Polkadot (DOT), and Solana (SOL). 

Asset managers are seeking the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 cryptocurrency ETFs. 

The wave of filings has come as a result of US President Donald Trump softening the SEC’s regulatory posture toward crypto after taking office in January.

Magazine: Solana ‘will be a trillion-dollar asset’: Mert Mumtaz, X Hall of Flame

Key takeaways:

Solana’s stablecoin supply rose by 156% in 2025, to hit a new record at $12 billion.

Solana’s TVL grew by 25% to $7.65 billion, with 27.7% decentralized exchange volume share, leading Ethereum and BNB Chain.

SOL price formed a bull flag, with a price target at $220.

Solana’s native token, SOL (SOL) failed to maintain its bullish momentum after reaching $156 on April 25, but an assortment of data points suggests that the altcoin’s upside is not over.

SOL stablecoin market cap hits $13 billion

Solana’s stablecoin supply has skyrocketed by 156% in 2025, surging past $13 billion to hit a new all-time high.

Stablecoins on Solana recently surged past $13B in issuance, setting a new ATH@calilyliu on why Solana is purpose-built for moving digital dollars at internet speed pic.twitter.com/WYPPg0LEG6

— Solana (@solana) May 5, 2025

Circle’s USDC (USDC) remains the stablecoin of choice for Solana users, with a 77% market share.

Solana stablecoin supply surpasses $103 billion, setting a new all-time high. Source: DefiLlama

Stablecoins are integral to Solana’s decentralized finance (DeFi) ecosystem, driving liquidity and increasing SOL demand as it’s used for transaction fees and staking, potentially pushing its price upward.

Increased stablecoin inflows historically correlate with price rallies, as seen between December 2023 and August 2024, when a 230% rally in SOL price was accompanied by a 160% increase in stablecoin inflows from $1.55 billion to $4.06 billion.

Solana TVL and transaction count on the rise

Solana remains the second-largest blockchain in terms of total value locked (TVL) and ranks first in DEX volumes. 

Solana’s TVL has risen from $6.1 billion on April 9 to $7.65 billion on May 6, an increase of over 25% in almost 30 days.

Solana TVL and transaction count. Source: DefiLlama

Positive signs include a 44% increase in deposits on Sanctum, a liquid staking application, and 25% growth on Jito and Kamino.

Solana’s daily transaction count has also increased by 25% over the last month to 57.77 million transactions.  

While Ethereum and BNB Chain provide competition in terms of onchain volumes, the Solana network is the undisputed leader with daily DEX volumes standing at $2.61 billion at the time of writing. Solana also commands a 27.7% DEX volume market share, ahead of BNB Chains and Ethereum’s 18%.

Blockchains’ DEX volume dominance. Source: DefiLlamaSOL bull flag points to $220

SOL price has formed a bull flag chart pattern in the daily timeframe, as shown in the chart below.  

A bull flag pattern is a bullish setup that forms after the price consolidates inside a down-sloping range following a sharp price rise.

SOL/USD daily chart. Source: Cointelegraph/TradingView

Bull flags typically resolve after the price breaks above the upper trendline and rises by as much as the previous uptrend’s height. This puts the upper target for SOL price at $220, up 53% from the current price.

Crypto analyst RisHad said that SOL price needs to hold the $120 – $130 support to increase the chances of moving toward $178 and beyond.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

Kelly Ayotte, the Governor of New Hampshire, signed a bill into law allowing the state’s treasurer to invest in cryptocurrencies, including Bitcoin (BTC).

In a May 6 notice, Ayotte announced on social media that New Hampshire would be permitted to “invest in cryptocurrency and precious metals” through a bill passed in the state Senate and House of Representatives. House Bill 302, introduced in New Hampshire in January, will allow the state’s treasury to use funds to invest in cryptocurrencies with a market capitalization of more than $500 billion, eliminating many tokens and memecoins.

Signing New Hampshire’s crypto reserve bill into law on May 6. Source: Governor Kelly Ayotte

With the signing of the bill into law, New Hampshire was the first of several US states considering passing legislation to establish a strategic Bitcoin reserve, including an initiative with the federal government. A similar bill in Arizona passed the state’s House in April but was vetoed by Governor Katie Hobbs on May 2, and Florida’s government withdrew two crypto reserve bills from consideration on May 3.

Related: Bitcoin’s role as a reserve asset gains traction in US as states adopt

The efforts to create crypto reserves in different US states come as US President Donald Trump and Republican lawmakers propose similar policies at the federal level. Trump signed an executive order in March to establish a “Strategic Bitcoin Reserve” and a “Digital Asset Stockpile.”

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

This is a developing story, and further information will be added as it becomes available.

Asset manager Standard Chartered predicts that Binance’s ecosystem token, BNB, could more than double in price this year, according to an analyst report reviewed by Cointelegraph. 

The asset manager sees BNB’s price rising to approximately $1,275 per token by the end of 2025 and as high as $2,775 by the end of 2028, according to the research report. 

As of May 6, BNB trades at nearly $600 per coin, for a fully diluted value (FDV) of approximately $84 billion, according to data from CoinMarketCap.

Price forecasts for BNB. Source: Standard Chartered

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. 

“We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to USD 2,775 by end-2028.”

Related: How much Bitcoin can Berkshire Hathaway buy?

‘Old-fashioned’ network

The BNB token is the native cryptocurrency of Binance BNB Chain, a layer-1 (L1) blockchain network affiliated with the world’s largest centralized exchange (CEX). 

The BNB Chain has less developer activity than L1s such as Ethereum or Avalanche and its ecosystem is comparatively “old-fashioned”,” Standard Charter said. 

BNB’s ecosystem is heavy on DEXs. Source: Standard Chartered

More than 60% of the network’s onchain economic activity involves decentralized exchanges (DEXs), compared to a more diverse spread on other L1s, it said.

However, the asset manager noted that this could also serve as a source of stability for BNB Chain. 

“Assuming Binance remains one of the largest CEXs, BNB’s value drivers are unlikely to change anytime soon,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. 

“Given this, we see potential for BNB to serve as a form of benchmark, or average, for digital asset prices more broadly,” he added. 

BNB Chain is the fourth largest L1, with nearly $6 million total value locked (TVL), according to data from DeFiLlama.

On May 5, asset manager VanEck filed to list the first BNB exchange-traded fund (ETF) in the United States.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Asset manager Standard Chartered predicts that Binance’s ecosystem token, BNB, could more than double in price this year, according to an analyst report reviewed by Cointelegraph. 

The asset manager sees BNB’s price rising to approximately $1,275 per token by the end of 2025 and as high as $2,775 by the end of 2028, according to the research report. 

As of May 6, BNB trades at nearly $600 per coin, for a fully diluted value (FDV) of approximately $84 billion, according to data from CoinMarketCap.

Price forecasts for BNB. Source: Standard Chartered

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. 

“We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to USD 2,775 by end-2028.”

Related: How much Bitcoin can Berkshire Hathaway buy?

“Old-fashioned” network

The BNB token is the native cryptocurrency of Binance BNB Chain, a layer-1 (L1) blockchain network affiliated with the world’s largest centralized exchange (CEX). 

The BNB Chain has less developer activity than L1s such as Ethereum or Avalanche, and its ecosystem is comparatively “old-fashioned,” Standard Chartered said. 

BNB’s ecosystem is heavy on DEXs. Source: Standard Chartered

More than 60% of the network’s onchain economic activity involves decentralized exchanges (DEXs), compared to a more diverse spread on other L1s, it said.

However, the asset manager noted that this could also serve as a source of stability for BNB Chain. 

“Assuming Binance remains one of the largest CEXs, BNB’s value drivers are unlikely to change anytime soon,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. 

“Given this, we see potential for BNB to serve as a form of benchmark, or average, for digital asset prices more broadly,” he added. 

BNB Chain is the fourth-largest L1, with nearly $6 million total value locked (TVL), according to data from DeFiLlama.

On May 5, asset manager VanEck filed to list the first BNB exchange-traded fund (ETF) in the United States.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Asset manager Standard Chartered predicts that Binance’s ecosystem token, BNB, could more than double in price this year, according to an analyst report reviewed by Cointelegraph. 

The asset manager sees BNB’s price rising to approximately $1,275 per token by the end of 2025 and as high as $2,775 by the end of 2028, according to the research report. 

As of May 6, BNB trades at nearly $600 per coin, for a fully diluted value (FDV) of approximately $84 billion, according to data from CoinMarketCap.

Price forecasts for BNB. Source: Standard Chartered

“BNB has traded almost exactly in line with an unweighted basket of Bitcoin and Ethereum since May 2021 in terms of both returns and volatility,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. 

“We expect this relationship to continue to hold, driving BNB’s price from around USD 600 currently to USD 2,775 by end-2028.”

Related: How much Bitcoin can Berkshire Hathaway buy?

“Old-fashioned” network

The BNB token is the native cryptocurrency of Binance BNB Chain, a layer-1 (L1) blockchain network affiliated with the world’s largest centralized exchange (CEX). 

The BNB Chain has less developer activity than L1s such as Ethereum or Avalanche, and its ecosystem is comparatively “old-fashioned,” Standard Chartered said. 

BNB’s ecosystem is heavy on DEXs. Source: Standard Chartered

More than 60% of the network’s onchain economic activity involves decentralized exchanges (DEXs), compared to a more diverse spread on other L1s, it said.

However, the asset manager noted that this could also serve as a source of stability for BNB Chain. 

“Assuming Binance remains one of the largest CEXs, BNB’s value drivers are unlikely to change anytime soon,” Geoff Kendrick, an analyst at Standard Chartered, wrote in the research note. 

“Given this, we see potential for BNB to serve as a form of benchmark, or average, for digital asset prices more broadly,” he added. 

BNB Chain is the fourth-largest L1, with nearly $6 million total value locked (TVL), according to data from DeFiLlama.

On May 5, asset manager VanEck filed to list the first BNB exchange-traded fund (ETF) in the United States.

Magazine: Financial nihilism in crypto is over — It’s time to dream big again

Opinion by: Barna Kiss, CEO of Malda

An idea recently floated by some prominent thinkers in the Ethereum space to reclaim value for the mainnet is the taxing of its Layer-2s. The future of Ethereum does not depend on policy but on enabling frictionless capital movement between the L2s in question. Tariffing rollups may appear a neat way to reclaim value for the mainnet. In practice, it would fragment the ecosystem, drain liquidity, push users toward centralized platforms, and avoid decentralized finance altogether. In a permissionless system, capital flows to where it is treated best, and Ethereum’s rollups mistreat it.

Liquidity fragmentation is Ethereum’s real threat

In traditional finance, the link between fluidity and growth is well established. Lower barriers to capital inflows lead to higher investment. Take the European Union’s pre-Brexit single market. Investment flows slowed when the United Kingdom’s exit fragmented access to capital pools, as economists tracking cross-border activity noted. Ethereum faces a decentralized parallel. 

Rollups, particularly those that are optimistic and ZK-based, impose delays of up to a week on withdrawals and offer only patchy cross-rollup liquidity. The result is a fragmented system in which adoption slows, and capital is underused.

Developers are left with two poor choices. Either they focus on one rollup and limit their audience, or fragment liquidity across several and accept inefficiencies. Neither option serves the ecosystem’s long-term interests. A significant opportunity lies, therefore, with protocols that remove these frictions. They will attract more capital, operate more efficiently, and deliver better experiences.

Recent: 3 reasons Ethereum could turn a corner

Capital movement must be abstracted away from the end-user. Bridges and withdrawal queues should become protocol-level concerns, not user problems. It is feasible for liquidity deployed on one rollup to satisfy demand on another, with background rebalancing ensuring solvency and efficiency. What today seems complex can be made invisible.

This design shift from reactive bridging to intent-based liquidity coordination would restore composability and preserve decentralization. More importantly, it would uphold Ethereum’s core principles of building open systems without central gatekeepers. Without it, users will continue to rely on centralized exchanges to bypass friction, compromising self-custody for convenience. This is not just a technical challenge — it is a philosophical one.

Designing around friction is the competitive edge

Designing around capital efficiency is becoming a competitive edge. Tomorrow’s DeFi protocols will not simply compete on fees or yield. They will compete on how well they can access liquidity across a fractured landscape. The winners will be those that can fulfill a user’s request wherever the user is without requiring them to move funds manually. The result will be better UX, more productive capital, and higher network stickiness.

Some underlying technologies are beginning to address the problem. Ethereum-native rollups, planned after a hard fork in 2026, promise closer integration, and while they are still not ready for deployment, based rollups offer tighter alignment with Ethereum by sharing sequencing and improving settlement while sacrificing some independence. In the meantime, optimistic rollups are racing to implement zero-knowledge proofs to speed up exits. These innovations reduce friction, but they are not enough on their own. Scale will come from applications designed around these constraints, not from the base layers alone.

Zk-Rollups are particularly well suited for this. Their cryptographic structure allows for low-latency and trust-minimized messaging between chains. This makes them ideal for applications like payments, decentralized trading, and real-time financial products, all of which demand speed and certainty. If Ethereum can make such cross-rollup flows seamless, it will not just scale. It will become the backbone of a more efficient financial system.

That outcome is not guaranteed. Tariffing rollups may serve short-term goals, but in the long run, they would weaken the very network Ethereum aims to strengthen. Solana, for example, already offers composability within a single domain. While Ethereum’s modular approach is arguably more robust, it cannot afford to ignore the usability cost of fragmentation.

Ethereum’s greatest strength is its neutrality. That should include the ability of capital to move freely within its ecosystem. The future will not be built by taxing rollups. It will be built by enabling them to function as one economic engine.

Opinion by: Barna Kiss, CEO of Malda.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

US Representative Maxine Waters, ranking member of the House Financial Services Committee (HFSC), led some Democratic lawmakers out of a joint hearing on digital assets in response to what she called “the corruption of the President of the United States” concerning cryptocurrencies.

In a May 6 joint hearing of the HFSC and House Committee on Agriculture, Waters remained standing while addressing Republican leadership, saying she intended to block proceedings due to US President Donald Trump’s “ownership of crypto” and oversight of government agencies. Digital asset subcommittee Chair Bryan Steil, seemingly taking advantage of a loophole in committee rules, said Republican lawmakers would continue with the event as a “roundtable” rather than a hearing.

HFSC Chair French Hill urged lawmakers at the hearing to create a “lasting framework” on digital assets, but did not directly address any of Waters’ and Democrats’ concerns about Trump’s involvement with the crypto industry. Hill said Waters was making the hearing a partisan issue and shutting down discussion on a digital asset regulatory framework.

Waters’ objection and leading members of Congress opposed to Trump’s crypto ties to a shadow hearing was part of a strategy announced by the Democratic lawmaker on May 5.

Amid his 2024 campaign and once taking office in January, Trump has faced criticism for the launch of his memecoin, a recent offer to have top tokenholders attend an exclusive dinner, and his family’s ties to the crypto platform World Liberty Financial.

Competing bills to regulate crypto, ban government officials from owning it

The “roundtable” led by Republicans moved forward, discussing the crypto market structure framework that the party’s leadership proposed on May 5. Meanwhile, Democrats in the shadow hearing released a draft of legislation “to establish certain digital asset prohibitions with respect to Government officers and employees,” specifically naming the president, vice president, members of Congress, and their immediate families. The bill proposed banning all covered individuals from owning crypto, serving as leadership for a digital asset issuer, or receiving compensation through the sale or trading of crypto.

May 6 discussion draft bill proposing to ban ownership of crypto by government officials. Source: House Financial Services Committee Democrats

The hearing and efforts by Democrats to “hold [Trump] accountable” could slow or outright halt progress to pass the market structure bill. In the Senate, a group of Democrats pulled support for a stablecoin bill after raising concerns about corruption by the president and his family.

Some Republican lawmakers, including Hill, have pushed back on Trump’s connections to the crypto industry. The Arkansas lawmaker reportedly said in March that the Trump family’s involvement makes crypto legislation “more complicated,” while Senators Cynthia Lummis and Lisa Murkowski were reportedly critical of the president’s memecoin dinner.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions

US Representative Maxine Waters, ranking member of the House Financial Services Committee (HFSC), led some Democratic lawmakers out of a joint hearing on digital assets in response to what she called “the corruption of the President of the United States” concerning cryptocurrencies.

In a May 6 joint hearing of the HFSC and House Committee on Agriculture, Waters remained standing while addressing Republican leadership, saying she intended to block proceedings due to US President Donald Trump’s “ownership of crypto” and oversight of government agencies.

Digital asset subcommittee Chair Bryan Steil, seemingly taking advantage of a loophole in committee rules, said Republican lawmakers would continue with the event as a “roundtable” rather than a hearing.

HFSC Chair French Hill urged lawmakers at the hearing to create a “lasting framework” on digital assets, but did not directly address any of Waters’ and Democrats’ concerns about Trump’s involvement with the crypto industry. Hill said Waters was making the hearing a partisan issue and shutting down discussion on a digital asset regulatory framework.

Waters’ objection and leading members of Congress opposed to Trump’s crypto ties to a shadow hearing was part of a strategy announced by the Democratic lawmaker on May 5.

Amid his 2024 campaign and once taking office in January, Trump has faced criticism for the launch of his memecoin, a recent offer to have top tokenholders attend an exclusive dinner, and his family’s ties to the crypto platform World Liberty Financial.

Competing bills to regulate crypto, ban government officials from owning it

The “roundtable” led by Republicans moved forward, discussing the crypto market structure framework that the party’s leadership proposed on May 5. Meanwhile, Democrats in the shadow hearing released a draft of legislation “to establish certain digital asset prohibitions with respect to Government officers and employees,” specifically naming the president, vice president, members of Congress, and their immediate families.

The bill proposed banning all covered individuals from owning crypto, serving as leadership for a digital asset issuer, or receiving compensation through the sale or trading of crypto.

May 6 discussion draft bill proposing to ban ownership of crypto by government officials. Source: House Financial Services Committee Democrats

The hearing and efforts by Democrats to “hold [Trump] accountable” could slow or outright halt progress to pass the market structure bill. In the Senate, a group of Democrats pulled support for a stablecoin bill after raising concerns about corruption by the president and his family.

Some Republican lawmakers, including Hill, have pushed back on Trump’s connections to the crypto industry. The Arkansas lawmaker reportedly said in March that the Trump family’s involvement makes crypto legislation “more complicated,” while Senators Cynthia Lummis and Lisa Murkowski were reportedly critical of the president’s memecoin dinner.

Magazine: Trump’s crypto ventures raise conflict of interest, insider trading questions