Crypto Market Overview of the Week: Trump Signs “Big Beautiful Bill,” Rift with Elon Musk, Solana ETF Launch, and Robinhood’s Big Move
The first week of July saw a series of major developments that shook the global crypto market. From President Donald Trump signing a record-breaking $3.3 trillion budget bill to the deepening political divide with Elon Musk one of the most influential figures in the crypto community, the market had no shortage of hot spots. Add to that the emergence of the Solana betting ETF, Robinhood’s new move, and DeFi Development’s bold investment move. Here’s a roundup of the week’s most notable developments.
Trump Officially Signs “Big Beautiful Bill” That Has a Deep Impact on Crypto
On July 4, President Donald Trump signed into law a massive $3.3 trillion budget package, also known as the “Big Beautiful Bill,” after the bill passed both houses of Congress. Although provisions directly related to cryptocurrencies and artificial intelligence were cut in the final version, the indirect impact of the bill cannot be underestimated.
One of the notable points is a series of large tax cuts, especially related to technology investment and digital assets. This policy is expected to promote capital inflows into the domestic crypto market, but at the same time, it also increases the US budget deficit - a factor that can put pressure on the USD and increase the attractiveness of Bitcoin as an alternative store of value.
Elon Musk strongly opposes and threatens to split politically with Trump
However, not everyone in the technology industry supports Trump's move. Elon Musk, CEO of Tesla and SpaceX, has publicly criticized the "Big Beautiful Bill", arguing that the huge spending will cause the budget deficit to spiral out of control and pose a risk of economic recession.
Musk warned that if the administration continues down this path, he will form a new political party, ending his long-standing relationship with Trump. The development immediately raised concerns in the memecoin community, where tokens like DOGE and TRUMP are somewhat associated with the two tech and political icons.
A social media poll on the establishment of a “third party” is still ongoing, and while there is no specific conclusion, it is clear that this rift could create waves of instability for memecoin projects and digital assets related to the names of the two giants.
First Solana Staking ETF Launches in the US, a Breakthrough for the Altcoin Market
Meanwhile, good news has come to the altcoin investor community when the first Solana staking ETF was officially listed and traded on US stock exchanges. This is the first staking ETF dedicated to Solana (SOL), reflecting the growing acceptance of assets beyond Bitcoin and Ethereum by regulators.
The fund offers investors the opportunity to participate in Solana staking indirectly but legally and easily, marking a major step forward in bringing altcoins into traditional investment portfolios.
However, the joy was not complete when the SEC continued to delay the final decision on Grayscale's altcoin basket ETF, which includes many major coins such as ADA, MATIC, DOT, etc. This delay once again shows the Commission's caution towards more diversified products, although this move may be just a tactical move to prepare for a new review process.
Robinhood Announces Plan to Tokenize Stocks with Ambition to Become a Financial Super App
At the EthCC 2025 conference, Robinhood, a popular trading platform among young people, officially announced its long-term strategy to expand its presence in the blockchain and cryptocurrency world.
Robinhood revealed its plan to tokenize more than 200 US and European stocks and ETFs, allowing investors to buy and sell traditional assets using blockchain technology. In parallel, the company also plans to launch its own Layer-2 blockchain, develop products such as perpetual futures contracts for European users and staking tokens for the US market.
If successfully deployed, Robinhood will not only be a stock trading platform, but will become an integrated investment super app in many fields - from traditional assets to crypto.
DeFi Development Spends $100 Million on Solana, Plans to Be MicroStrategy-Style for Altcoins
Over the weekend, DeFi Development, a company that is thriving in the decentralized finance space, announced plans to sell $100 million worth of shares to fund a massive purchase of Solana (SOL), putting the altcoin into its corporate treasury.
It's a rare move for a company to adopt a "crypto treasury" strategy not with Bitcoin but with an altcoin. The company's stock price initially dipped upon the announcement, but recovered by the end of the week, suggesting investors are starting to understand and support the long-term vision.
If the plan works, DeFi Development could become the MicroStrategy of altcoins, paving the way for a host of other businesses
Accumulating Decentralized Digital Assets as Part of a Financial Strategy
Conclusion: A Busy and Signaling Week for the Future of Crypto
From macro-level policy to corporate strategy and new investment products, the crypto market is entering a period of unprecedented acceleration. Political-technological relationships are reshaping, financial institutions are increasingly moving into digital assets, and altcoins are gaining ground alongside Bitcoin.
Against this backdrop, investors should keep a close eye on developments in policy, ETFs, and the strategies of major platforms like Robinhood. Crypto is no longer a story of the future it is the focus of the present.