The Crypto Conundrum

Why the SEC won't approve a Bitcoin ETF

Download your copy

The Crypto Conundrum

Why the SEC won't approve a Bitcoin ETF
Solidus Labs Research
Go to the full analysis

What is wash trading, and why does it happen in crypto?

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

  • Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut
  • Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliqprice above the strike price of a call option they may have negotiated w
Access the full report
Oops! Something went wrong while submitting the form.

Why the SEC hasn't approved a crypto ETF

This new 30-page report published by the Chamber of Digital Commerce - which Solidus helped write -  sheds light into the crypto industry’s effort to enable a U.S Bitcoin spot ETF, and the regulatory, market integrity and political challenges that have so far led the SEC to reject all of the applications.

The industry discourse surrounding a crypto ETF often focuses on headlines and prophecies instead of the real challenge at hand: Demonstrating market integrity and battling market manipulation in the unprecedented decentralized and borderless market structure introduced by crypto. The Chamber’s report injects substance into the conversation and provides important data points on the efforts history.

Go to the full analysis
Trusted by compliance teams and regulators globally

Built for Data Complexity

Normalizes non-standard feeds and on/off-ramp data into one real-time schema, while crypto-native models cut through volatility to flag wash trades, spoofing, and insider flow, even amid extreme price swings or cross-venue price gaps.

Future-Proofed for Evolving Crypto-Specific Schemes

Monitors manipulation across both on- and offchain, from insider trading on DEXs, cross-venue schemes spanning spot/derivatives or CeFi/DeFi to native onchain threats throughout the asset life cycle.

Real-Time Intervention Before Risk Escalates

Real-time alerting surfaces risk instantly, enabling timely intervention in a global, 24/7 “always-on” market and instant settlement that legacy batch processing can’t offer

See Risk Across Trades, Transactions & KYC

Unifies trades, transactions, KYC, and behavioral signals in one view—uncovering risks siloed systems miss like account takeovers, new-account scams, and transactions that appear legitimate in isolation but raise suspicion when analyzed against broader trading behavior.

Crowd-Driven Crypto Sentiment Intelligence

Machine-learning sentiment analysis distills signals from messy, unstructured data across Reddit, X, Telegram, and news sources – flagging symbol-level sentiment shifts in real time.

Venue-Agnostic Data Architecture

Venue-agnostic approach to market data delivers high speed and scalability across all digital and traditional asset classes, with fallback mechanisms for uninterrupted surveillance even without full order-book depth.
Loader Animation