DeFi Development Corp Races to Raise $100M for SOL – ETF Green Light Next?
Main Idea
DeFi Development Corp plans to raise $100 million through a private offering of convertible notes to further its Solana-centric strategy, amid growing speculation about potential Solana ETF approvals.
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.
Description
DeFi Development Corp, the first U.S. public company built around a Solana-based treasury strategy, has announced plans to raise $100 million through a private offering of convertible senior notes due in 2030. The deal, revealed Tuesday, comes as momentum builds around a possible green light for Solana exchange-traded funds (ETFs). DeFi Development Corp Doubles Down on Solana With $100M Raise Plan According to the company, the offering will be made to qualified institutional buyers under Rule 14...
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