Instagram_logoJust as Apple introduced iOS 7 equipped with Instagram-like filters built-in to the redesigned camera app (although not for video), word has it Instagram is looking to move into Vine’s territory by adding video features in an upcoming update.  According to a report from TechCrunch, Facebook’s event later this week won’t focus so much on that rumored news reader, but more so on integration of a Vine-like short video feature for Instagram:

We’ve been working on getting more details on a press event that Facebook is having this week. Earlier, we wrote it could launch a news-reading app, but we have since heard more details that point to something else entirely. On June 20, a source says Facebook will unveil that Instagram, its popular photo-sharing app, will begin to let people also take and share short videos. Call it the Vine effect.

TechCrunch doesn’t seem entirely confident about its source, noting that “We are still looking for more information because we understand that Facebook has not wanted the details of June 20 to leak out — so this could be an intentional blind alley.” 

Last week TechCrunch and others said that Facebook was planning to launch a Google Reader alternative of sorts. We’ll have to wait for Facebook’s event scheduled for later this week on June 20 to find out for sure.