Daily Brief: September 20, 2025
Solana Surge, Michigan Bitcoin, Ethereum Upgrade
TL;DR: Solmate has secured $300 million to expand its Solana-based treasury, highlighting Solana's growing appeal among institutional investors. Michigan is moving forward with a bill to allow public funds in Bitcoin, showing states' interest in crypto as a hedge. Ethereum's upcoming Fusaka upgrade aims to improve scalability and reduce costs, signaling progress in supporting decentralized apps. These developments show a broader shift towards integrating digital assets into traditional and public sectors.
📈 Solana's Institutional Treasury Boom
Solmate, previously known as Brera Holdings, has secured a $300 million investment to expand its Solana-based digital asset treasury. This initiative, led by ARK Invest and Pulsar Group, aims to accumulate Solana (SOL) tokens and establish a high-performance validator infrastructure in Abu Dhabi. The announcement led to a notable increase in Solmate's stock price, indicating strong market confidence.
The shift towards Solana is backed by major investors, including the Solana Foundation and ARK Invest. Solmate plans to use this support to create new revenue streams through Solana staking and infrastructure development. This move positions the UAE as a central hub for Solana's ecosystem, with expectations that Solana's network will surpass Bitcoin and Ethereum in developer growth.
Institutional interest in Solana is on the rise, with corporate treasuries holding over $4.3 billion in SOL tokens. This trend is fueled by strategic investments from entities like ARK Invest and the Solana Foundation, underscoring Solana's potential in institutional markets, decentralized finance, and NFTs. The increasing adoption of Solana reflects a broader shift towards digital assets in corporate strategies.
Why it matters: This development underscores the increasing institutional confidence in Solana, potentially accelerating its adoption and integration into traditional investment portfolios.
📈 Michigan Moves Forward with Bitcoin Reserve Bill
Michigan's legislature is moving forward with a plan to invest up to 10% of its public funds in Bitcoin. This initiative, called the Strategic Bitcoin Reserve bill, is part of a growing trend among U.S. states to consider cryptocurrency as a hedge against inflation and currency risks. The bill still needs further legislative approval before it can be enacted.
House Bill 4087, now with the Government Operations Committee, proposes allowing Michigan's state treasurer to invest in cryptocurrencies under strict security measures. This move aligns Michigan with states like Texas and Arizona, which have passed similar laws. The bill's progress underscores the increasing recognition of Bitcoin as a strategic asset, despite concerns about its volatility.
The bill includes strict security requirements for custody solutions and allows for crypto lending to generate returns. However, it does not restrict investments to Bitcoin, which has drawn some criticism. If passed, Michigan would join a small group of states with formal crypto reserve laws, marking a shift towards integrating digital assets into public financial management.
Why it matters: This legislation signals a growing acceptance of Bitcoin as a legitimate asset for public funds, potentially influencing other states and shaping future government investment strategies amid evolving federal cryptocurrency policies.
🚀 Ethereum's Fusaka Upgrade Set for December 2025
Ethereum developers have announced the Fusaka upgrade, set for December 3, 2025. This significant update aims to boost scalability and cut costs by introducing new features like Peer Data Availability Sampling (PeerDAS). This feature lets nodes verify parts of large data blobs, reducing bandwidth use and enhancing scalability for layer-2 rollups.
The Fusaka upgrade will increase the gas limit to 150 million units and expand blob capacity, which is essential for handling more transactions efficiently. The rollout will begin on testnets such as Holesky, Sepolia, and Hoodi before reaching the mainnet. These changes are part of Ethereum's ongoing efforts to improve network throughput and lower layer-2 rollup costs.
To ensure security, the Ethereum Foundation has launched a $2 million audit contest to find vulnerabilities before the mainnet activation. This proactive step underscores the importance of maintaining network security while scaling up. The Fusaka upgrade is expected to support sustainable growth and prepare Ethereum for future technological advancements.
Why it matters: The Fusaka upgrade is crucial for Ethereum's scalability, reducing costs and enhancing network efficiency, which is vital for supporting the growing demand for decentralized applications and layer-2 solutions.
