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Crypto

Ex-Elon ETFs launched excluding Tesla and SpaceX

Two exchange-traded funds excluding companies linked to Elon Musk have been registered in the United States. ETF manager Subversive Capital launched two “Ex-Elon” products that keep a Nasdaq 100 and S&P 500 large-cap structure but remove Tesla and SpaceX from inclusion. The funds are designed to block exposure to those companies. Filings say they seek capital gains from broad U.S. large-cap exposure while excluding stakes in firms founded, controlled, led or primarily associated with Musk.

Crypto

Crypto-style leverage spreads to Wall Street as SpaceX-linked token SPCX sees $50 million forced liquidations

More than $50 million in forced liquidations occurred over 48 hours in SPCX, a SpaceX-linked tokenised stock perpetual futures product, as the underlying price tested around $150, its Nasdaq reference opening level. The liquidation scale rose to behind only bitcoin and ether in crypto derivatives over the same period. The episode underscores that tokenised stocks can carry leverage, margin and funding-fee risks similar to crypto derivatives, with investors not receiving share ownership or voting rights.

Crypto

Solana takes 95 percent of tokenised stock trading

Solana accounted for 95 percent of blockchain-based tokenised stock trading last week, logging $1.29 billion in volume. Cointelegraph reported on June 22 that it was the largest weekly total on record. Solana also led weekly app revenue at $21 million, ahead of Ethereum, Hyperliquid and Base, and posted $82.84 million in revenue over the past month. Despite higher activity, Solana’s DeFi total value locked was about $5.7 billion, below about $13 billion in September 2025.