Ether Bears Lose $11M as ETF Hopes Lift ETH Prices
There’s a “90% chance” an ether futures ETF will be traded in the first week of October, one analyst said.
There’s a “90% chance” an ether futures ETF will be traded in the first week of October, one analyst said.
The fund’s new strategy to combine ether and bitcoin will be effective formally on Oct. 3.
VanEck Ethereum Strategy ETF (EFUT) will invest in ETH futures contracts traded on commodity exchanges registered with the CFTC.
The spread between dominant crypto options exchange Deribit’s forward-looking 30-day implied volatility index for ether (ETH DVOL) and bitcoin (BTC DVOL) has been consistently negative since Sept. 7.
Options are derivatives that give the purchaser the right to buy or sell the underlying at a pre-determined price at a later date. Quarterly options settlements are closely watched by traders.
The decline in activity in the network is partly because of the adoption of layer 2 networks, and the trend will continue in the near term, according to intoTheBlock.
Two days of inflows fueled a more than fourfold increase in Binance staked ether’s total value locked.
Research firm RxR’s blended Metcalfe law-centric valuation model, incorporating active user adoption of layer 2 scaling networks, suggests ether should trade at a market value of $275 billion.
The launch comes as the staking landscape is dominated by centralized staking providers, which together hold more than 70% of the staked ether (ETH) supply.
The Merge marked the completion of Ethereum’s transition to the proof-of-stake consensus mechanism.