Crypto Week Ahead: Ethereum’s Fusaka Upgrade, Grayscale’s Chainlink Trust in Focus

Ethereum developers are gearing up for the network’s second major upgrade of 2025, with the Fusaka upgrade scheduled to activate on the mainnet this Wednesday. Fusaka — a combination of the names Fulu and Osaka — delivers simultaneous updates to Ethereum’s consensus and execution layers. The upgrade is designed to help the blockchain scale more efficiently as layer-2 networks continue to push higher transaction volumes onto Ethereum for settlement.

On Tuesday, Grayscale is expected to convert its Chainlink Trust into a spot exchange-traded fund, creating the first Chainlink ETF and completing a process that began in September. The product will expand the firm’s ETF lineup, which already includes offerings tied to bitcoin (BTC), ether (ETH), solana (SOL), and XRP. The move comes less than a week after Grayscale launched its Dogecoin Trust ETF (GDOC).

Key Crypto Events

• Dec. 1: 21Shares Core XRP Trust (TOXR) lists on Cboe BZX Exchange.
• Dec. 1: Ontology (ONG) activates mainnet v3.0.0, cutting supply from 1 billion to 800 million and implementing liquidity locks, emission changes, and performance enhancements.
• Dec. 1: Qtum (QTUM) executes its second halving, reducing mining rewards from 0.5 QTUM to 0.25 QTUM per block.
• Dec. 1: Starknet (STRK) launches “Privacy Perps,” adding L2-level masking for private perpetuals trading.
• Dec. 2: Grayscale Chainlink Trust ETF (GLNK) begins trading on NYSE Arca following its conversion to a spot ETF.
• Dec. 2, 12 p.m.: MultiversX (EGLD) activates the “Staking V5” upgrade at epoch 1951.
• Dec. 2: VeChain (VET) implements the Hayabusa hard fork at block 23,414,400.
• Dec. 3: Ethereum’s Fusaka upgrade activates on mainnet at epoch 411392.
• Dec. 7: Beldex (BDX) deploys the “Obscura v7.0.0” hard fork at block height 4,939,540.

Macro Calendar

• Dec. 1: The Federal Reserve ends quantitative tightening, pausing balance-sheet runoff to ease liquidity pressures.
• Dec. 1: Manufacturing PMI releases: Brazil (8 a.m.), Canada (9:30 a.m.), U.S. (9:45 a.m.), Mexico (10 a.m.), and U.S. ISM (10 a.m.).
• Dec. 1, 8 p.m.: Fed Chair Jerome Powell delivers remarks.
• Dec. 2, 10 a.m.: Speech by Fed Vice Chair for Supervision Michelle Bowman.
• Dec. 3: Key PMI and employment data across Brazil, the U.S., and Canada.
• Dec. 4: Brazil Q3 GDP at 7 a.m.; U.S. jobless claims at 8:30 a.m.; additional remarks from Bowman at noon.
• Dec. 5: Brazil PPI at 7 a.m.; Canada unemployment rate at 8:30 a.m.; U.S. consumer sentiment and PCE inflation data at 10 a.m.

Earnings (FactSet Estimates)

• Dec. 1: Cango (CANG), post-market.
• Dec. 2: Forward Industries (FWDI), post-market.

DAO Governance & Voting

• Lido DAO is voting on shifting idle stablecoins into sUSDS or tokenized money market funds to generate yield. Voting closes Dec. 1.
• GMX DAO is deciding on a new six-month budget to compensate governance, listing, and security committee members. Voting ends Dec. 1.
• Decentraland DAO votes on commissioning an independent review of Regenesis Labs to address transparency concerns. Voting ends Dec. 2.
• Arbitrum DAO is electing the final three members of the 2026 AGV Council. Voting ends Dec. 4.
• Rootstock Collective is voting on expanding community efforts in Ghana through education and onboarding initiatives. Voting ends Dec. 4.
• Aavegotchi DAO is selecting a new Foundation Company Director after recent resignations, with the option to approve one or both candidates. Voting ends Dec. 6.

About The Author

ctleditor

See author's posts