Solana News Today: Mainstream Crypto Adoption Gains Momentum with $2B Institutional Staking Expansion

Coinbase Prime and Figment have broadened their institutional staking collaboration to support a diverse range of Proof-of-Stake (PoS) networks, marking a significant step toward mainstream crypto adoption, according to a Blockworks report. The partnership, initially focused on Ethereum in early 2024, now includes major blockchains such as Solana, Cardano, Sui, Avalanche, and Polkadot. This expansion allows institutional clients to stake assets directly through Coinbase Prime's custody platform without transferring funds, enabling seamless management of staking, trading, and financing operations, as noted by BitcoinWorld. To date, the integration has facilitated over $2 billion in staked assets, underscoring rising demand for secure, diversified onchain yield generation, per Coinpaper.

The collaboration leverages Figment's institutional-grade staking infrastructure, which supports over $18 billion in assets across multiple networks, as reported by Coinrise. Institutional clients now benefit from enhanced flexibility to select high-quality staking providers while maintaining Coinbase Prime's robust security controls, according to The Block. Lewis Han, Head of Staking Sales at Coinbase, emphasized that the expansion "gives institutions more flexibility to safeguard assets with institutional-grade controls and secure custody," while Lorien Gabel, CEO of Figment, highlighted the partnership's role in advancing decentralization and validator diversity.

The expansion coincides with growing institutional interest in PoS assets, driven by the appeal of passive income generation and ESG-aligned investment strategies, a trend amplified by the recent launch of the Bitwise Solana Staking ETF (BSOL), the first U.S. exchange-traded product to offer 100% direct exposure to Solana (SOL) with built-in staking rewards, as covered by Coinotag. BSOL recorded $10 million in trading volume within its first 30 minutes, outperforming competing ETFs like Canary's HBAR and Litecoin offerings, according to CryptoBriefing. The fund targets an average yield of over 7% through Bitwise Onchain Solutions and Helius-powered staking infrastructure, with a temporary 0% fee for new investors, per Coinotag BSOL details.

Solana's market performance has also gained institutional traction, with its price rebounding to $198.35 and a market capitalization exceeding $109 billion, as previously reported. Analysts note that the network's technical upgrades and high transaction throughput position it as a key player in decentralized finance (DeFi) and tokenization initiatives. Meanwhile, Grayscale's upcoming Solana Trust ETF and the success of the REX-Osprey Staking Solana ETF (SSK), which manages over $400 million, signal sustained momentum for institutional Solana adoption.

The broader crypto ecosystem is also seeing regulatory progress, with the SEC's streamlined 75-day review process enabling faster ETF approvals, as reported by CryptoTimes. Bitwise's BSOL, which debuted with $222.8 million in assets, exemplifies the growing convergence of traditional finance and blockchain technology, according to EthNews. As Coinbase Prime and Figment continue expanding their staking services, the integration of PoS networks into institutional portfolios reflects a maturing market where digital assets are increasingly viewed as legitimate, yield-bearing components of diversified investment strategies.