This week brings a wave of crypto news, setting the stage for potential market fluctuations. Key events span various ecosystems, including Solana and Aster DEX, alongside significant US macro events.
Traders can strategically position their portfolios by anticipating the following events this week.
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Final Deadline for Spot Solana ETFs
October is the month for ETFs (exchange-traded funds), with 16 funds awaiting final decisions from the US SEC (Securities and Exchange Commission). Notably, none of the funds with the October deadline were submitted by Fidelity or BlackRock, the two leaders in the Crypto ETF space.
Among these, asset manager Grayscale’s Solana trust stands out, with Nate Geraci, president of the ETF Store, suggesting that the upcoming weeks could be pivotal for crypto ETFs.
“The next few weeks are crucial for spot crypto ETFs… SEC’s final deadlines for numerous filings are imminent. It commences this week with the Canary spot LTC ETF deadline, followed by decisions on SOL, DOGE, XRP, ADA, & HBAR ETFs (though SEC can approve any or all of these whenever),” noted Geraci.
VanEck, 21Shares, and Grayscale have already submitted applications for a spot Solana ETF, with the SEC’s final decision anticipated by October 16. Analysts estimate approval odds to be around 90% in 2025.
Research from Bitfinex suggests that approvals could trigger a new altcoin cycle as institutions seek safer exposure.
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Pendle Incentive Campaign
Another major crypto headline this week is the Pendle incentive campaign, which is anticipated to be announced in collaboration with Plasma (XPL).
“XPL rewards are live for Plasma markets on Pendle! Besides their existing yield + points, Pendle pools will receive an additional layer of XPL rewards,” announced Pendle.
Currently, Pendle’s market data indicates that sUSDe yields are averaging around 4–5% APY, while Ethena’s projections suggest a much higher 10% APY.
Some Pendle community members pointed out that this disparity presents an intriguing opportunity for yield speculators. If you have a bullish outlook on market momentum and funding rates, this may represent an enticing entry point for long-yield exposure.
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For example, Plasma’s sUSDe is currently trading at an implied APY of about 9.1%, slightly less than a 1% premium over the underlying APY of 8.15%, even before considering potential yield increases.
Certain yield tokens (YTs) seem undervalued compared to projected rates, offering disproportionate upside for investors betting on higher yields or funding improvements in the near future.
Of course, this is not financial advice, and investors are encouraged to do their own research.
FOMC Minutes for September Meeting
An additional crypto newsworthy item this week is the FOMC minutes from the September meeting, which are part of significant US economic events with implications for crypto.
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Following this event, Federal Reserve chair Jerome Powell will give his opening remarks, with both data points expected to sway Bitcoin sentiment this week.
Aster Airdrop Checker
The launch of the Aster airdrop checker on October 10 will be another noteworthy event. The project recently confirmed that rewards for Genesis Stage 2, available for claims starting October 14, will have no locking period. This allows recipients to sell their tokens immediately.
However, with 4% of the total supply unlocked simultaneously, analysts and traders like Duo Nine have noted the potential for selling pressure.
Aster’s announcement framed the update as promoting fairness and flexibility, emphasizing “no pause” between stages and promising enhanced reward mechanisms in Stage 3, which include new scoring formulas, team incentives, and spot trading bonuses.
