The U.S. Securities and Exchange Commission (SEC) has taken a pivotal step toward mainstreaming crypto investment products with the release of long-awaited guidance for exchange-traded products (ETPs) tied to cryptocurrencies.

The 12-page document, quietly issued last Tuesday, outlines how asset managers should prepare filings for crypto ETFs, signaling a soft pivot by the regulator under the Trump administration’s Republican leadership.

The move is the clearest indication yet that the SEC is rethinking its posture toward digital assets—an industry it had previously targeted with an aggressive enforcement campaign. Under the new framework, the Commission has paused or abandoned several high-profile lawsuits and begun developing a regulatory blueprint that may accelerate approvals for ETFs tracking everything from Solana to Trump-themed meme coins.

SEC insiders quoted by Reuters say the agency is also working on a new listing template to replace the lengthy and restrictive 19(b)(4) application process, which currently requires exchanges to seek individual exemptions for every new crypto ETF. If adopted, the new framework could slash the review time from as much as 240 days to as few as 75 days, enabling faster market entry for dozens of crypto ETF proposals currently awaiting a verdict.

“This is the first time we’ve seen concrete rules of the road for crypto ETPs,” said Matt Hougan, Chief Investment Officer at Bitwise Asset Management, which has multiple crypto ETF applications pending. “The most important thing is that this guidance exists at all.”

The new SEC document instructs issuers to explain in plain English how crypto ETFs differ from traditional offerings—particularly regarding custody arrangements, valuation methodology, and risks in volatile digital asset markets. The aim, according to officials familiar with the matter, is to simplify the SEC’s internal review process while enhancing transparency for investors.

“This guidance reflects the SEC’s recognition that crypto ETPs are now part of the investment mainstream,” said Sui Chung, CEO of CF Benchmarks, a leading crypto index provider.

But the real breakthrough may lie in the anticipated second phase of regulatory reform. SEC staff are now working with major exchanges like Nasdaq and Cboe to draft a universal listing framework, which could eliminate the need for case-by-case review of each ETF linked to individual crypto assets.

This overhaul comes amid mounting pressure on regulators to keep pace with financial innovation. With more than two dozen ETF filings pending—including ones tied to XRP, Polkadot, Dogecoin, and even President Trump’s meme coin—the SEC is expected to issue additional rule changes before the fall, potentially opening the floodgates to a new class of retail-accessible crypto investment products.

Solana in the Spotlight

While most asset managers await clearer rules, some are already finding creative workarounds.

Last week, REX Financial and Osprey Funds launched the first U.S. ETF offering indirect exposure to Solana, the world’s sixth-largest cryptocurrency. Dubbed the REX-Osprey Sol + Staking ETF, the product doesn’t invest directly in Solana but instead channels investor funds into a separate entity that holds both Solana tokens and a non-U.S.-based Solana fund.

This strategy allows REX and Osprey to bypass SEC restrictions on spot crypto ETFs. The fund also introduces yield-bearing opportunities via staking, in which token holders validate blockchain transactions in exchange for rewards.

“It’s not a case of either/or,” said Greg King, CEO of REX Financial. “We’re getting out in front now with what’s allowed, and we’ll file for a direct Solana ETP when the SEC finalizes its broader rules.”

King said the new ETF pulled in $12 million on its first day of trading on July 1, underscoring the strong investor demand for exposure to emerging blockchain networks.

Trump Administration’s Changing Crypto Stance

The guidance marks a significant shift from the SEC’s previous approach under Trump, who initially supported robust enforcement against digital assets deemed securities. However, with the formation of a new SEC crypto task force, a refocusing of its enforcement priorities, and a more collaborative posture toward asset managers, the Trump administration now appears to favor integrating crypto more firmly into the financial system.

Sources familiar with the matter told Reuters that SEC Chair Hester Peirce and Commissioner Mark Uyeda, both Republicans, have championed efforts to streamline the ETF process and reduce regulatory bottlenecks, especially for “commoditized” assets like Bitcoin, Ethereum, and Solana.

While Nasdaq, Cboe, and the New York Stock Exchange declined to comment, executives at several ETF issuers expect a unified crypto ETF template to be filed “within days or weeks.”

The roadmap ahead suggests an intense period of product launches and competition. Asset managers like Bitwise, VanEck, Grayscale, and BlackRock all have filings in the pipeline. Once the second phase of guidance is issued—expected by early fall—the SEC could begin approving a wave of new ETFs, including those for meme coins and high-volatility altcoins that had previously been relegated to crypto exchanges.

Despite the rapid pace of development, industry insiders caution that the SEC is not rushing and that investor protection remains a central concern.

“Crypto may be entering the mainstream, but this is still the SEC,” said King. Not everything has been codified yet,”

If the current pace holds, fall 2025 may usher in a new chapter in U.S. crypto investing—one where traditional and digital finance fully converge on Wall Street.

Epic Games has settled its antitrust lawsuit against Samsung, marking a surprising turn in the Fortnite maker’s expanding battle to dismantle what it calls a “duopoly” of app store control by Google and its close partners.

Filed in September 2024, the case accused Samsung of colluding with Google to suppress competition in mobile app distribution — primarily through the deployment of its controversial “Auto Blocker” feature that restricts installations of apps from outside the Galaxy and Google Play Stores.

On Monday, Epic voluntarily dismissed nine of its antitrust claims in a U.S. court filing, following what it described as constructive discussions with Samsung.

“We’re dismissing our court case against Samsung following the parties’ discussions,” Epic CEO Tim Sweeney posted on X. “We are grateful that Samsung will address Epic’s concerns.”

Though no specific terms of the settlement were made public, legal analysts believe the agreement likely involves tweaks to the way Samsung handles app installations from alternative sources.

The settlement ends one chapter in Epic’s broader offensive against what it sees as illegal app store monopolies — an effort that has already seen a major win against Google, and a mixed outcome in a previous case against Apple. Epic has also launched its own mobile app store and has pushed to expand third-party distribution globally.

What the Case Was About

Epic’s lawsuit against Samsung centered on the Auto Blocker feature, which was turned on by default on Galaxy devices and created a complex, 21-step process for users to install apps from outside Samsung’s and Google’s stores. Epic alleged this amounted to a deliberate obstruction designed to limit user choice and punish competition, particularly after a U.S. jury found Google guilty of illegally monopolizing Android app distribution in December 2023.

Samsung denied wrongdoing at the time, calling Epic’s suit “baseless” and saying its security features were designed solely to protect users from malware and unsafe apps. Google also dismissed Epic’s allegations as meritless, emphasizing that Android partners like Samsung are free to make independent decisions on app safety mechanisms.

However, the timing of Epic’s lawsuit—just months after it won the historic jury verdict against Google—suggested the company was intent on ensuring that judgment would not be undermined by workarounds. Epic claimed Samsung’s actions effectively nullified the legal win by maintaining the status quo in app distribution, particularly in key U.S. markets where Galaxy phones hold a significant market share.

What’s in the Settlement?

Epic did not disclose the terms of the agreement, but its decision to dismiss the suit without prejudice — meaning it can revive the claims later — suggests Samsung has committed to certain changes. Legal observers speculate that Samsung may agree to either disable Auto Blocker by default, offer an opt-in mechanism, or establish a fair and transparent whitelisting process for third-party app stores.

The resolution also arrives just days before Samsung’s highly anticipated Galaxy Unpacked event, sparking industry chatter that Epic’s game store could be preinstalled on new Samsung devices, or at the very least, made more accessible through device settings.

This wouldn’t be the first time Samsung has cooperated with Epic in app distribution. In 2018, Fortnite was initially available for Android exclusively through Samsung’s Galaxy Store before being released more broadly.

The Samsung case was just one front in Epic’s long-running campaign to break the dominance of tech giants over app distribution. The company began its war against gatekeeper app stores in 2020 by suing both Apple and Google over their 30% commissions and tight control over in-app payments.

While Epic lost much of its case against Apple, the firm scored a significant legal victory against Google in December 2023 when a California jury found the company had violated antitrust laws. The verdict compelled Google to open its Play Store to rival marketplaces, but enforcement of the ruling remains in limbo as the company appeals.

In suing Samsung, Epic sought to ensure that Google’s alleged antitrust violations were not merely replicated through strategic partnerships.

Sweeney is not optimistic that change will be immediate.

“If Google is obstructing a vertical remedy through appeals and isn’t offering an awesome deal,” Sweeney said in 2023.

What Changes Could Be Coming?

According to the filing, Epic retains the right to refile the case if Samsung fails to follow through on its commitments. At the same time, the broader legal landscape is still shifting. Google’s appeal of the jury verdict is pending, and lawmakers in Washington are revisiting legislation to curb app store monopolies, particularly on Android.

The outcome of the Samsung dispute may also influence other manufacturers. If Samsung agrees to open up its devices to third-party app stores, other OEMs like Xiaomi, Oppo, and Vivo may face similar pressures — especially in regions where regulators are growing more assertive in policing digital market competition.

Though Epic’s agreement with Samsung lacked the courtroom drama of its battles with Apple and Google, it could have significant implications. By reaching a compromise outside court, Epic may be setting a precedent for how it wants other companies to cooperate — not with monetary damages, but with structural changes that promote open access.

At a time when developers are pushing for greater visibility, lower fees, and direct relationships with users, Samsung’s willingness to settle may reflect a growing recognition among manufacturers that the old gatekeeping models are no longer defensible — legally, politically, or commercially.

OpenAI is quietly piloting a new feature in ChatGPT called “Study Together,” signaling a major shift in how the AI tool is being positioned for educational use.

Though not yet officially announced, several ChatGPT users have begun seeing the tool listed among their available features, raising intrigue and questions about its role in learning — and its potential to curb cheating while enhancing student engagement.

The new mode appears to offer a radical departure from the chatbot’s usual behavior. Instead of providing instant answers to user prompts, Study Together prompts users with questions and asks them to work through problems on their own — emulating the role of a tutor rather than a search engine.

OpenAI has not issued a formal statement about the feature. When asked, ChatGPT itself replied, “OpenAI hasn’t officially announced when or if Study Together will be available to all users — or if it will require ChatGPT Plus.”

According to early user reports, Study Together feels less like a typical chatbot session and more like being quizzed by a patient study partner. The AI refrains from offering direct solutions too quickly and instead nudges the learner toward deeper understanding, possibly drawing inspiration from Google’s LearnLM and Anthropic’s education-focused version of Claude, which also use similar Socratic approaches.

The strategy here is deliberate: encourage learning and discourage shortcuts. With generative AI already being criticized for enabling academic dishonesty — helping students write essays, generate math solutions, or circumvent assignments — OpenAI appears to be experimenting with ways to channel the tool toward ethical and constructive learning behavior.

For example, ChatGPT may ask users to work through a math problem, explain their thinking on a historical topic, or write short summaries in their own words before giving any feedback or suggestions. This interactive approach could prove effective in developing critical thinking skills and reducing dependence on AI as a crutch.

Early Signs of Broader Educational Intent

Some users speculate that the tool could eventually evolve to include group study capabilities, allowing multiple users to participate in a single session — turning ChatGPT into a kind of AI-hosted virtual study room. While OpenAI has yet to confirm such features, the idea aligns with a growing trend in AI-powered education: making learning collaborative, responsive, and adaptive.

Topics currently dominating ChatGPT’s educational use include finance, stocks, sports, politics, and science, according to Similarweb data. However, interest in deeper subject engagement across areas like literature, history, economics, and philosophy is reportedly growing.

The release of Study Together comes at a time when ChatGPT has already become a fixture in academic settings. Teachers are using it for lesson planning, students treat it like a study companion — and in some cases, an AI ghostwriter. The blurred lines have sparked concern across universities and school boards, prompting calls for tools that promote responsible use.

As ChatGPT has been accused of making it too easy for students to cheat and creating a technology that is “killing higher education,” Study Together may be OpenAI’s way of taking that critique seriously — by embedding pedagogical principles into the product itself.

Still in Testing — But Momentum Is Building

As of now, the Study Together feature is limited to a subset of users, likely those on the ChatGPT Plus plan. Its interface and capabilities may evolve in the coming months, especially as OpenAI gears up for more platform integrations and potentially the rollout of GPT-5.

Observers note that OpenAI has recently been testing a series of experimental features tied to Gmail, Slack, and calendar integration — and that Study Together may be part of a broader shift toward task-specific, modular AI tools that fit distinct user needs.

By subtly shifting ChatGPT from an answer bot into an educational mentor, OpenAI is testing not only a new feature — but a new ethos. If Study Together proves successful, it could serve as a model for how generative AI can support rather than undermine the learning process.

The key challenge, however, will be making the mode available at scale while maintaining quality, and convincing users — particularly students — that they’ll get more out of grappling with knowledge than simply outsourcing it.

So far, OpenAI has kept mum on the future of Study Together. But based on what’s emerging, it could become a defining feature in how ChatGPT is used in classrooms and dorm rooms around the world.