Filings for two Solana-based ETFs, designated SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067, have disappeared from the public domain, leading to speculation as to whether they have been withdrawn.
These ETFs, filed by Cboe in June 2024 and followed by 19b-4 forms filed in July, have yet to receive a notice of filing from the U.S. Securities and Exchange Commission (SEC), adding to the uncertainty over their approval.
In contrast, Brazil is moving forward with its own Solana-backed ETF, led by QR Asset and Vortx. Although awaiting final approval from the Brazilian Stock Exchange, this ETF could have a significant impact on Brazil’s financial market.
In the U.S., however, the Securities and Exchange Commission’s cautious approach to Solana as a financial security casts doubt on the future of Solana-based ETFs.
Large asset managers like BlackRock have shown minimal interest, reflecting broader skepticism about the potential impact of these products on the U.S. crypto market. However, other SOL-related proposals are in development in both the U.S. and Brazil, although their success remains uncertain.

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The biggest cryptocurrency by market value, Bitcoin, had a significant drop once the US market opened. A major cause of this decline is the waning likelihood of rate decreases by the Federal Reserve. There have been no noteworthy developments since the Securities and Exchange Commission's (SEC) ruling against Salt Blockchain.
US Market Impact
At the time of writing, Bitcoin was valued at $54,500, having reached a daily low of $54,522. Analysts pointed out that the ongoing consolidation below $58,000 could lead to further declines. Despite favorable US economic data, high-volume sales pressured the bulls, who were unable to prevent the drop.
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Poor employment data, which has increased the likelihood of more Federal Reserve rate cuts, is now impacting US markets. Bitcoin, which often mirrors stock market trends, was also affected by this downturn. The S&P 500 fell by 1.37%, while the Nasdaq declined by 2.11%.

FedEx reported a "challenging" quarter due to a weaker industrial economy, prompting the company to lower its outlook for the rest of the year—a potential indicator of broader economic cooling. Investors often view FedEx as a gauge for both the U.S. and global economies.

The company's primary concerns are focused on industrial customers who ship goods to other businesses, rather than consumers, who drive the majority of U.S. economic activity. Despite this, FedEx CEO Rajesh Subramaniam noted that e-commerce shipments are "starting to grow again."
However, the decline in business from industrial customers is a cause for concern among FedEx and investors alike, with shares of the company falling 14% on Friday. Subramaniam acknowledged the impact, stating, "The soft industrial economy is clearly affecting our (business-to-business) volumes, and it was much weaker than anticipated, requiring us to adjust accordingly." He emphasized that shipments related to industrial production are FedEx's most profitable.

The company also highlighted a shift in demand, with a decrease in priority services and increased interest in deferred services.
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