The cryptocurrency market braces for a monumental week ahead, with three major developments set to transform the industry. Ethereum, Bitcoin, and XRP are all poised for significant milestones that could have far-reaching implications for their respective ecosystems.
Ethereum leads the pack as tomorrow, July 23, is expected to mark the commencement of trading for an ETH spot exchange-traded fund (ETF) after securing SEC approval in May.
Last week, the Chicago Board Options Exchange (CBOE) confirmed the listing of five Ethereum ETFs set for Tuesday, July 23. This represents a major breakthrough for Ethereum, providing institutional investors with a new avenue to access the second-largest cryptocurrency by market capitalization.
Bitcoin is also set for a historic moment this week as former U.S. President Donald Trump plans to deliver a speech at Bitcoin 2024 in Nashville, TN, on July 27. This will be the first time a U.S. president has publicly addressed the global Bitcoin community.
Rumors are swirling that Trump may use the platform to announce a U.S. Bitcoin strategic reserve, potentially boosting his chances of gaining support from the crypto community in the upcoming elections.
XRP, another major crypto that ranks alongside Bitcoin and Ethereum, faces significant development. In a recent TV interview, Ripple’s CEO Brad Garlinghouse expressed optimism that the company’s years-long litigation with the SEC will be resolved “very soon.” Garlinghouse’s comments followed those of Ripple’s chief legal officer, Stuart Alderoty, who noted the one-year anniversary of a U.S. court ruling that declared XRP is not a security.
The sentiment that the pending litigation will be resolved soon aligns with that of attorney Fred Rispoli, who recently suggested the final ruling could be heard on July 31, just eight days away.
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