This week’s major crypto events

Token unlocks – from July 22

The week that has begun once again pleases investors with a new batch of large unlocks, which the community always awaits with great interest.

The most notable will be the unlocking of more than 680 million AltLayer (ALT) tokens.

Spot ETF Trading on Ethereum Starts on July 23

It is expected that this week – on Tuesday, July 23 – the crypto market should finally see the official launch of ETH-ETF trading.

The American SEC approved applications for the creation of exchange-traded funds based on Ethereum two months ago, on May 24. However, real trading in the new instrument has not yet started.

Since the applications were approved, the dates have been constantly shifting: at first, analysts predicted that ETFs on Ethereum would start trading on July 2, but then they shifted forward by about two weeks – now experts outline an approximate time range from July 15 to 21. At the same time, the most popular date is the 18th of this month. In particular, Bloomberg analyst Eric Balchunas is betting on it. However, the expert then changed his mind again and named a new date – July 23.

Commission Chairman Gary Gensler gave the broadest time frame, saying spot ETH ETF trading could begin by the end of this summer.

This time, the deadlines are no longer expected to be shifted: the Chicago Board Options Exchange has officially confirmed that several funds will begin trading this week. Among them are the Fidelity Ethereum Fund, Franklin Ethereum ETF, Invesco Galaxy Ethereum ETF, VanEck Ethereum ETF, and 21Shares Core Ethereum ETF.

The first reading of the draft law on mining in the Russian Federation is July 23

This Tuesday will take place First reading of the bill on cryptocurrency mining in Russia.

The draft law was submitted to the State Duma in November 2022, but since then it has not been possible to reach a consensus on the issue. The essence of the bill (and the debate about it) is to resolve the issue of when, how and to what extent to build a tax system for crypto miners. For example, the Association of Industrial Mining of Russia (APM) proposed to levy a tax at the time of sale of a digital asset by a miner.

There is a possibility that after many years the bill will finally be approved. After approval by the State Duma Committee on Financial Markets, the document will be sent to the next readings in the State Duma, and then in the Federation Council. After that, the document must be signed by the President of the Russian Federation.

Trump’s Bitcoin 2024 Speech – July 25-27

US presidential candidate Donald Trump will speak at a crypto conference called Bitcoin 2024, which will be held from July 25 to 27 in Nashville, Tennessee.

The crypto community is waiting for the politician to appear at the event, as Trump is currently the leading pro-crypto candidate for the post of the President of the United States. After Joe Biden’s voluntary and unexpected decision to withdraw from the election race, Donald Trump’s chances of winning have only increased.

As Trump’s popularity in the crypto community has skyrocketed, memecoins related to the politician have flooded the market. All of these tokens are sensitive to news related to Donald Trump.

conclusions

This week we are expecting several important events at once: token unlocks, the start of ETH-ETF trading, and Donald Trump’s speech at a major crypto conference. All of them are capable of raising the mood of the crypto market.

However, reading the draft law on mining in the Russian Federation could become a negative event if its outcome does not meet the expectations of the Russian crypto community.

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