- The potential approval of a Bitcoin spot ETF could be a game-changer for the Bitcoin and crypto landscape.
- Key events include the first US Republican debate with a spotlight on crypto, and the anticipated speech by Federal Reserve Chair, Jerome Powell.
A Bitcoin Spot ETF Decision on the Horizon
One of the most significant events on the crypto calendar this week revolves around the Bitcoin spot ETF. Widely viewed as a potential game-changer for the crypto market’s upward trajectory, all eyes are on the pending decision by financial giants like BlackRock and Fidelity. Adding to the drama, a ruling concerning the Grayscale vs. SEC lawsuit, addressing the Grayscale Bitcoin Trust’s conversion to a spot ETF, is anticipated either Tuesday or Friday at 11 am EST.
This ruling precedes the expected verdict from the aforementioned financial entities. Nate Geraci, an ETF expert, speculates that while the SEC might postpone the spot Bitcoin ETF decision, the Grayscale lawsuit could introduce an unexpected twist.
🗓️ #Bitcoin & #Crypto Week Ahead
Tue & Fri
Grayscale v. SEC: Verdict on GBTC conv. to spot ETF?Wed
First US Rep. debate: $BTC & crypto on agenda?Fri
Fed Powell to speak at Jackson Hole 🚨More:$RUNE: starts lending on Tue & stable savers on Thu. $SHIB: #Shibarium reboot?
— Jake Simmons (@realJakeSimmons) August 21, 2023
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US Republican Debate: Crypto Takes Center Stage
Come November 2024, the next US President will be decided, and this decision could be pivotal for Bitcoin and crypto’s trajectory. The curtain rises on the first US Republican debate this Wednesday. Notably, former US president Donald Trump, now rumored to be an Ethereum enthusiast, will not be participating. However, with crypto supporters like Francis Suarez, Vivek Ramaswamy, and Ron DeSantis in the fray, crypto topics are expected to be prominently featured.
Federal Insights: Jerome Powell’s Address at Jackson Hole
Monetary policy discussions will take center stage at the annual Jackson Hole symposium this Friday. Jerome Powell, the Federal Reserve Chair’s speech, is arguably the most anticipated, given the gap between the last and upcoming Fed meetings. Recently released financial data might give insights into Powell’s views on monetary policies. The crypto world is preparing for potential market fluctuations post-speech.
RUNE’s Lending Feature Debut
THORChain’s launch of its lending feature on Tuesday, and the introduction of Stable Savers on Thursday, are noteworthy. RUNE’s volatile nature means investors should be vigilant post-launch to gauge any market reactions.
Shibarium’s Comeback?
Following an unforeseen halt due to overwhelming user traffic that negatively affected the Shiba Inu (SHIB) price, Shibarium’s blockchain is undergoing rigorous testing. Once the private testing concludes, Shibarium will open its doors to the public once more. Whether SHIB will capture the market’s enthusiasm again is eagerly awaited by enthusiasts.
Note: Bitcoin’s current valuation is $26,105.
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