Solana (SOL) ETF Approval Deadline Looms as Senator Cynthia Lummis Plans Bitcoin Summit

This week in crypto, several big news are in the pipeline, capable of influencing the portfolios of respective ecosystem participants.

This week in crypto, several big news items are in the pipeline, capable of influencing the portfolios of respective ecosystem participants.

From key deadlines and network developments to crucial summits and launches, traders and investors have the following headlines to watch:

Next Solana ETF Approval Deadline

The next Solana ETF approval deadline is tomorrow, March 11. This deadline marks the end of a 240-day review period for some of the initial Solana ETF filings, such as those from VanEck and 21Shares, submitted in mid-2024 and acknowledged by the Securities and Exchange Commission.

For other filings, like Grayscale’s application, the final deadline might be extended to October 2025. However, posts on X (Twitter) and some analyses suggest March 11 as a critical date for an initial or unified SEC response to multiple applications.

Crypto market participants should note that optimism is running high, with prediction market Polymarket estimating a high probability (up to 80%) of approval in 2025.

This optimism stems from expectations of a more crypto-friendly regulatory environment under the Trump administration and the leadership of Paul Atkins at the SEC. But some experts warn that approval might not come until 2026 due to ongoing regulatory hurdles.

“The greatest Solana win coming from the new Trump Presidency will be our long-awaited ETF in 2025 or 2026. No surprise, the incredible VanEck team will lead the charge here with support from 21Shares and Canary Capital,” Jablonski added.

The SEC has previously labeled Solana (SOL) an unregistered security in lawsuits against exchanges like Coinbase and Binance. For an ETF to be approved as a commodity-based product, the SEC must shift its stance or resolve these legal challenges. A dismissal or softening of these lawsuits could significantly boost the odds of approval.

AAVE DAO to Explore sGHO Savings Product

The Aave DAO is exploring a proposal to introduce sGHO, a savings product tied to its native stablecoin GHO. This will enhance GHO’s utility and adoption within the decentralized finance (DeFi) ecosystem.

The network’s sGHO is envisioned as a low-risk, yield-bearing savings product built on Aave’s GHO stablecoin. It is a decentralized, over-collateralized, USD-pegged asset launched in 2023. The proposal highlighted by Aave founder Stani Kulechov positions sGHO as a mechanism to provide GHO holders with passive income opportunities while maintaining stability.

“sGHO will introduce a staple on-chain savings rate for Aave users, great entry-product for new users on-chain,” Kulechov explained recently.

It draws inspiration from models like Sky’s sUSDS (formerly MakerDAO), which offers stablecoin holders a savings rate.

Senator Lummis to Co-Host Bitcoin Strategy Summit

Senator Cynthia Lummis, a known Bitcoin supporter, will co-host the “Bitcoin for America” summit on March 11 in Washington, D.C., organized by the Bitcoin Policy Institute. This invite-only event, which will be streamed online in some parts, aims to shape the US Bitcoin strategy.

This follows her recent proposal to sell Federal Reserve gold to fund the Bitcoin reserve. In her view, the reserve could help in tackling the country’s $36 trillion national debt.

Key attendees at the summit include industry leaders like Strategy’s Michael Saylor, policymakers, and financial executives, highlighting bipartisan momentum for Lummis’ BITCOIN Act. This legislation proposes a US strategic Bitcoin reserve, targeting 1 million BTC (5% of the total supply) over five years and held for 20 years to bolster the dollar and reduce national debt.

With Trump’s pro-crypto stance and a Republican-led Congress, approval odds are higher, potentially enabling it within his first 100 days.

For the crypto market, this could mean heightened institutional adoption, price volatility if the US starts buying BTC, and a precedent for other nations.

“Senator Lummis is stirring the pot, suggesting an arms race over Bitcoin instead of weapons. If the U.S. starts hoarding BTC, we’re talking a seismic shift in global dynamics—military power taking a backseat to digital asset dominance,” one user on X noted.

However, regulatory hurdles and Bitcoin’s volatility remain key risks. Participants should watch for the summit’s outcomes, as they could fundamentally alter Bitcoin’s role in US finance.

Frax Finance to Bring Stablecoin to Solana

Frax Finance, recognized for its fractional-algorithmic stablecoin FRAX, has announced plans to expand its stablecoin ecosystem to Solana, a high-performance blockchain.

This move, teased earlier in 2025, will leverage Solana’s speed, low costs, and growing DeFi ecosystem to boost FRAX adoption.

Crypto market participants should