Events likely to shape crypto markets next week: Ether ETFs, MiCA implementation, & FOMC minutes
The upcoming week is expected to be significant for the cryptocurrency industry, with several events that could impact the market. Here are the key events to watch:
1. Delayed Launch of Ethereum ETFs: The United States SEC has postponed the launch of spot Ethereum ETFs, which was anticipated to happen on July 4. The SEC has returned S-1 Ethereum ETF forms to all applicants, giving them until July 8 to resubmit their filings. This delay could create some Fear, Doubt, and Uncertainty (FUD) in the Ethereum ecosystem, but SEC chairman Gary Gensler has assured a smooth progress in the approval process. Analysts predict that the SEC will resume reviewing the S-1 forms on July 8, with approval expected soon after.
2. MiCA Implementation in the EU: The European Union’s Markets in Crypto Assets Regulation (MiCA) will go live on June 30. This comprehensive regulatory framework sets new rules for crypto investments in the European financial market. The implementation of MiCA has the potential to transform the cryptocurrency industry in the region. While companies strive to comply with the new regulations, there may be short-term volatility in the crypto market. However, MiCA aims to establish a secure and stable environment for traders and investors, attracting institutional players and driving long-term growth.
3. FOMC June Minutes: The Federal Reserve will release the minutes of the Federal Open Market Committee (FOMC) meeting for June on July 3. These minutes will provide insights into the Federal Reserve’s stance on interest rates. Despite recent data showing reduced inflation, analysts expect the Fed to maintain its current interest rate pauses until next year. Hawkish comments in the minutes could negatively impact sentiment in the digital tokens sector, as higher interest rates typically lead to bearishness in riskier assets like cryptocurrencies. Conversely, a dovish stance could lead to price surges in the crypto industry.
Overall, next week’s events, including the delay in Ethereum ETFs, the implementation of MiCA, and the FOMC minutes, are likely to have a significant impact on the cryptocurrency market. Traders and investors should closely monitor these developments to make informed decisions.
Source: [Invezz](https://www.invezz.com/news/2024/06/29/events-likely-to-shape-crypto-markets-next-week-ether-etfs-mica-implementation-fomc-minutes/)