The open interest for the monthly expiry of Ethereum options has surged to $3.2 billion with the call-to-put ratio favouring the buy options.
Despite this positive trend, overall flows for these ETFs remain below their March peak.
In order to launch Ethereum ETFs on Wall Street, the SEC must approve two crucial elements: the 19b-4 filings and the S-1 registration statements.
There’s an ongoing investigation into Ether’s status as a potential security.
Grayscale’s Bitcoin Investment Trust (GBTC) witnessed the first net inflow of $4.64 million since its conversion in January after it had experienced huge net outflows.
The performance of these Hong Kong-based ETFs has been disappointing compared to the success of the US-based spot ETFs, which hold $55 billion in total value.
Coinbase stock came under strong selling pressure on Thursday, as giant CME Group announced its plans to offer spot Bitcoin trading. This regulated platform could provide tough competition to Coinbase amid its ongoing SEC battle.
Under the collaboration with OpenAI, which contributed to the RDDT surge on Thursday, Reddit said it had selected the company as its advertising partner.
Dogecoin founder Billy Markus said that SEC has lost its integrity, and any positive outcomes are unlikely until its integrity is restored.
Lower-than-expected April CPI data (0.3%) boosts markets on hope of Fed rate cuts and increased liquidity.
The influx of funds into the newly launched ETFs shows institutional trust; hence, this could also be the beginning of more large capital flows into the BTC ecosystem.
The new Vanguard CEO said that it is important for the firm to stay consistent with their stand on Bitcoin products. He said that they no plans of coming up with an ETF in the near future.
Interactive Brokers, one of the leading global electronic brokers based in the United States, is expanding its presence in the crypto industry with the rollout of digital asset trading services to British customers through its UK unit.
Although the appointment will not take effect until July 8, it remains to be seen whether Ramji will be able to change Vanguard’s stance on digital assets during his tenure.
The SEC’s approval of spot Ethereum ETF hinges majorly on how the regulators perceives ETH: as a security or a commodity.