This week is jam-packed with significant events, from the fight to get a Bitcoin Spot ETF approved to the political and macroeconomic undercurrents affecting cryptocurrencies to the debut of cutting-edge platforms and technological advancements. The top five happenings this week in the world of Bitcoin and cryptocurrencies are detailed below:


Tuesday or Friday for a Bitcoin Spot ETF decision?

The most potent driver of a new rally in the Bitcoin and cryptocurrency markets is a Bitcoin spot ETF. A verdict in the Grayscale v. SEC lawsuit addressing the conversion of the Grayscale Bitcoin Trust (GBTC) into a spot ETF could be made either Tuesday or Friday at 11 am EST when the Court of Appeals issues its new rulings, even if the decision from BlackRock, Fidelity, and Co. is not expected until September 2.

The following two weeks could be "exciting" in the spot bitcoin ETF saga, according to Nate Geraci, president of ETF Store and co-founder of the ETF Institute, who tweeted this today. Grayscale's complaint might result in a decision, and the SEC must decide whether to approve, deny, or delay a wave of filings, including BlackRock's. The timing is significant since the Grayscale ruling is very likely before the SEC judgment.

Geraci anticipates that the SEC will postpone its decisions about the spot Bitcoin ETF, as it did with ARK Invest. The Grayscale case, however, might alter the course of events. The point is currently before the appeal court, as Scott Johnsson, a finance attorney at Davis Polk, noted. The Supreme Court is the only option left, but I wonder if the SEC wants to even consider it.

This indicates that the SEC is likely to refrain from appealing the decision. "From what I gather, the SEC will have some time to ask the DC Court and/or Supreme Court for a rehearing. Although it's unlikely they'll appeal, they could choose to do nothing during that time, said Geraci.

First US Republican debate on Wednesday

Voting for the next president of the US in November 2024 could impact the coming bull cycle for Bitcoin and other cryptocurrencies. Although the actual election day is November 5, 2024, several US lawmakers have already entered the race and mentioned BTC and cryptocurrency.

The first Republican debate in the US will be on Wednesday. The discussion could be interesting for the Bitcoin and cryptocurrency field, even if former US president Donald Trump has already stated that he will boycott the event and instead have an interview with Tucker Carlson.

Even though Trump's secret investment in Ethereum (ETH) became public knowledge a few days ago, numerous supporters of Bitcoin and other cryptocurrencies are running for the Republican nomination for president of the United States. It will be exciting to see whether Bitcoin enthusiasts such as Francis Suarez, Vivek Ramaswamy, or Ron DeSantis bring up cryptocurrencies during the debate. Ron DeSantis is also a potential participant.

Fed Chair Powell to Speak in Jackson Hole on Friday

This Friday, talks about monetary policy will again be centered around the yearly Jackson Hole symposium. One of the most anticipated events this week is the speech from Federal Reserve (Fed) Chair Jerome Powell, especially given the lengthy gap between the Fed meetings in July and September.

Since the last meeting, significant financial data like CPI, PPI, and employment statistics have been released, which may hint at Powell's shifting views on monetary policy. As correctly stated by Bank of America strategists, "While the Fed would prefer not to short-circuit the business cycle, they're possibly wary of a re-acceleration in inflation." Expect a tumultuous Friday for Bitcoin and other cryptocurrencies. Markets may be affected by Powell's remarks.

The Long-Awaited Contributions of RUNE

On Tuesday, THORChain will launch its lending function; on Thursday, Stable Savers will follow. RUNE typically suffers pronounced upswings and equally pronounced downswings. To see if a "sell-the-news" scenario might occur, investors need to keep a close eye on the metrics of the lending product after its introduction.

Reboot Of Shibarium?

The unexpected freezing of Shibarium, triggered by an inflow of users shortly after the launch of the resource, has had a substantial negative impact on the price of Shiba Inu (SHIB), which has caused it to fall. On Saturday, Shytoshi Kusama, the lead developer for SHIB and the person in charge of the scaling efforts for Shibarium, revealed that a large amount of work had been done.

On Saturday, the blockchain was reactivated, albeit initially privately. Shibarium will restart for the general public after this test is finished. It remains to be seen if SHIB will enjoy significant excitement again.