What Does This Week Mean to The Crypto Industry? Key Events To Watch

The current week marks crucial for the crypto industry as a series of strategic developments are on the horizon. As the highly volatile crypto market is correlative to the industry moves, analysts await to see the potential impacts of these developments.

Spot Ether ETF Launch

The much anticipated Spot Ether ETFs are expected to launch on July 23 as reports hint at the Securities and Exchange Commission’s (SEC) preliminary approval. Further boosting the anticipations of the launch, the Central Board Options Exchange (CBOE) has listed five Ether ETFs which are scheduled to launch on July 23. The enlisted ETFs include 21Shares Core Ethereum ETF, Fidelity Ethereum Fund, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and Franklin Ethereum ETF.

SEC’s Closed Meeting

The SEC has rescheduled its closed meeting from July 18 to July 25. The updates on the meeting have ignited speculations of an imminent resolution in the Ripple-SEC lawsuit. In anticipation of the settlement, Ripple’s XRP trails over a positive track, marking a monthly increase of more than 24%.

US GDP Projected To Remain Strong in Q2

While the second quarter’s US Gross Domestic Product (GDP) is set to release on July 25, economists predict GDP’s surge to an annualized 1.9%. However, the market analysts keenly watch the data as the GDP value is substantial in the Federal Reserve’s interest rate decision. Over the past year, the Fed has kept the rate at a 23-year high.

Donald Trump’s Key Note Address at Bitcoin Conference

On July 27, former US President Donald Trump is expected to attend the Bitcoin Conference in Nashville to deliver a keynote address. Trump’s pro-crypto stance has sparked optimism in crypto enthusiasts, with many hoping the Republican presidential candidate will endorse Bitcoin as a strategic reserve.

Elon Musk To Join Trump in Bitcoin Conference

Speculations arise on Elon Musk’s surprise entry to the Bitcoin Conference, fuelling the community’s excitement. The appearance of Musk’s private jet in Tennessee and his updated X profile with laser eyes reinforce the supposition.