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If Grayscale’s slated spot Ether ETF follows the same path as its Bitcoin one, there could be some short-term pressure on the price of ETH.
Grayscale’s yet-to-launch spot Ether (ETH) exchange-traded fund (ETF) could bleed an average of $110 million per day if it follows a similar pattern to its Grayscale Bitcoin Trust in the first month.
The Grayscale Bitcoin Trust (GBTC) converted from a closed-end fund to an ETF on Jan. 11, which saw 23% of its assets under management at launch flow out in the first month — totaling $6.5 billion, Kaiko analysts wrote in a May 27 report.
ETHE has an AUM of $11 billion. If it has “a similar magnitude of outflows” as GBTC, “this would amount to $110 million of average daily outflows or 30% of ETH’s average daily volume on Coinbase,” according to Kaiko.
With the spot ETH ETFs approved, traders are confident that Ethereum price is ready to rally well above $4,000.
Traders continue to push Ether (ETH) price closer to $4,000 on May 27, with the altcoin registering a 3.5% gain for the day.
Data from Cointelegraph Markets Pro and TradingView shows strong performance from Ether which rose from a low of $3,048 on May 20, climbing 27% to reach a 10-week high of $3,964 on May 27.
Ether’s performance over the last seven days has largely been driven by the markets’ anticipation that the spot Ethereum exchange-traded funds (ETFs) in the United States would be approved. Even though ETH displayed a lackluster performance after the approval, the move toward $4,000 is viewed as significant.
Here’s the step-by-step process of purchasing ETH on eToro and exploring the platform’s user-friendly interface and seamless transaction procedures.
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This article dives into how to buy Ethereum on eToro. The steps covered include creating an eToro account, verifying your identity, depositing funds into an eToro account and using those funds to buy Ether.
A multi-million bet on “Ethereum ETF approved by May 31” resolved to a “Yes” on Polymarket as news from the SEC broke, but the losing side argues it's not over yet.
Polymarket users who lost money by betting against the approval of spot Ether (ETH) exchange-traded funds (ETFs) are crying foul toward the decentralized betting platform, arguing the bet is still on.
One betting market on the blockchain platform saw over $13.2 million worth of bets placed on whether an Ether ETF would be approved by May 31 — but it didn’t exactly detail what “approved” meant.
The market closed at a “Yes” result on May 23, after the Securities and Exchange Commission greenlit the 19b-4 filings for multiple Ether ETFs. Polymarket's logs show the result was briefly disputed but ultimately resolved with the same “Yes" outcome.
VanEck launched a new ad centered around Ethereum, just 30 minutes after the SEC greenlit 19b-4 proposals for spot Ether ETFs.
Asset manager VanEck was quick to celebrate its newly-approved spot Ether (ETH) exchange-traded fund (ETF) with an arty 37-second advertisement coaxing viewers to “Enter the ether.”
VanEck posted its ad spot to X on May 23, roughly 30 minutes after the Securities and Exchange Commission approved its 19b-4 filing for a spot Ether ETF alongside BlackRock, Fidelity, Grayscale, Franklin Templeton, ARK 21Shares, Invesco Galaxy, and Bitwise.
The SEC still needs to greenlight each ETF’s S-1 filing to begin trading, which analysts say could take as long as a few months.
The digital assets platform soft-launched its controversial Ethereum custody service on May 17 and is targeting a full launch next month.
Digital asset trading and custody firm Prometheum has reportedly soft-launched its controversial Ether (ETH) custody service, which treats digital assets as security.
According to a May 20 report from Fortune, the custody solution has been rolled out to a few select companies on May 17, with a full-scale launch expected to take place in June.
Prometheum is targeting its services toward asset management firms, hedge funds, banks and registered investment advisors and aims to expand to retail clients later in 2024.