Ethereum Futures Open Interest Hits All-Time High Following ETF Approvals

May 29, 2024 Bitcoin.com

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Ethereum has experienced a significant increase since the U.S. Securities and Exchange Commission (SEC) approved a group of spot ether exchange-traded funds (ETFs). This week, ether reached a high of $3,980 per coin, which is approximately 18.4% below its all-time high. Amid fluctuating prices, ethereum futures markets have achieved a record high in open interest. […]

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Microstrategy’s Michael Saylor States Spot Ether ETF Approval ‘May Be Better for Bitcoin’

May 28, 2024 Bitcoin.com

Bitcoin

Michael Saylor, Executive Chairman of Microstrategy, stated that the approval of several spot ether ETF proposals by the U.S. SEC might be good for Bitcoin. In “What Bitcoin Did,” Peter McCormack’s podcast, Saylor stated this approval gives rise to a crypto asset class, including several use cases like tokens, NFTs, and defi, with Bitcoin at […]

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Grayscale’s Ethereum ETF could bleed $110M daily in first month: Kaiko

May 28, 2024 Coin Telegraph

Grayscale’s Ethereum ETF could bleed 0M daily in first month: Kaiko

Coin Telegraph

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.

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Ethereum price in ‘bull market’ after spot ETH ETF approvals greenlight rally toward $4K

May 27, 2024 Coin Telegraph

Ethereum price in ‘bull market’ after spot ETH ETF approvals greenlight rally toward K

Coin Telegraph

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.

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How to buy Ether (ETH) on eToro

May 27, 2024 Coin Telegraph

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Here’s the step-by-step process of purchasing ETH on eToro and exploring the platform’s user-friendly interface and seamless transaction procedures.

When buying Ether (ETH) or any other cryptocurrency, the platform is a crucial consideration, as it influences essential factors such as the simplicity of the process and issues regarding compliance, fees, security and trust. EToro is a social trading and multi-asset investment platform built around investor education and a string of functionalities for seamless trading.

EToro is a regulated platform offering a diverse cryptocurrency portfolio, including Ether. Market insights, educational resources and research tools available on the market help users keep tabs on the dynamic Ethereum landscape.

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.

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Hedge Funds Adopt Net Short Positions on BTC and ETH Futures, Kaiko Analysis Reveals

May 26, 2024 Bitcoin.com

Bitcoin

In a recent analysis by Kaiko, it has been found that hedge funds are currently holding net short positions on bitcoin (BTC) and ether (ETH) futures. This strategic move reflects a cautious stance amid fluctuating market dynamics and speculative trading activities. Study Shows Hedge Funds’ Net Short Positions in Bitcoin and Ether Futures Amid Market […]

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Mad Money’s Jim Cramer Endorses Ether as ‘Great Store of Value’ Amid US Dollar Concerns

May 25, 2024 Bitcoin.com

Bitcoin

Jim Cramer, the host of CNBC’s Mad Money show, has endorsed ethereum and spot ether exchange-traded funds (ETFs), highlighting the cryptocurrency as a “great store of value” amid concerns over the U.S. dollar due to federal budget deficits. “I have ether because it’s a great store of value,” he affirmed. Jim Cramer on Ethereum and […]

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Polymarket gets backlash over ‘approved’ outcome on $13M Ethereum ETF bet

May 24, 2024 Coin Telegraph

Polymarket gets backlash over ‘approved’ outcome on M Ethereum ETF bet

approval

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.

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VanEck drops new Ethereum ETF ad within an hour of SEC approval

May 23, 2024 Coin Telegraph

Coin Telegraph

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.

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Prometheum launches Ether custody service that treats ETH as a security: Report

May 21, 2024 Coin Telegraph

aaron kaplan

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.

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