DeFi Development Corp Races to Raise $100M for SOL – ETF Green Light Next?

Key Points

1. DeFi Development Corp announced a $100 million private offering of convertible senior notes due in 2030, targeting qualified institutional buyers.

2. The company withdrew a $1 billion SEC registration filing in June but remains focused on building a Solana treasury through private markets.

3. Bloomberg analysts raised approval odds for Solana, XRP, and Litecoin ETFs to 95%, with potential approvals expected soon.

4. The Rex Shares–Osprey SOL + Staking ETF launched on June 1, becoming the first U.S. ETF to offer staking exposure to Solana.

5. Grayscale’s Digital Large Cap Fund was approved for conversion into an ETF, providing indirect Solana exposure alongside Bitcoin and other major cryptocurrencies.