The Buzz Around Ethereum Futures ETFs
In mid-June 2023, major financial institutions like Fidelity Investments and BlackRock applied for spot Bitcoin ETFs, fueling optimism in the crypto community. Now, the focus has shifted to Ethereum futures ETFs as demand for cryptocurrency-based ETFs continues to rise.
Giant Players Eye Ethereum ETFs
Notable names like Volatility Shares, Bitwise, Roundhill, VanEck, Proshares, and Grayscale are seeking approval to launch Ethereum futures ETFs. These institutions are interested in tapping into the potential of Ethereum’s futures contracts traded on the Chicago Mercantile Exchange (CME).
Market Sentiment and Recent Developments
Despite recent withdrawals of Ether filings with the SEC, Volatility Shares remains confident, buoyed by the success of the 2x Bitcoin Futures ETF. In the past 24 hours, Ethereum’s price experienced a 2% surge, reaching $1,858.05 with a market cap of $223 billion.
Ethereum Options Reflect Negative Bias
Amberdata reports a negative bias in Ethereum options data for the next six months. The six-month call-put skew for Ether currently sits at -0.91, indicating a preference for put options, suggesting bearish sentiment in the market.
Hot Take: Ethereum ETFs Gain Momentum Despite Negative Options Bias
The surge in demand for cryptocurrency ETFs continues to attract major financial institutions, with attention now shifting to Ethereum futures ETFs. Despite the negative options bias, the successful launch of the 2x Bitcoin Futures ETF has boosted confidence. As the market evolves, it will be interesting to observe how Ethereum ETFs perform and impact the overall crypto market.
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