Reported 5 months ago
Crypto traders are closely watching the ether market as speculation increases due to the potential for US regulatory approval of exchange-traded funds (ETFs) for the digital asset. This news follows a 26% surge in ether prices, the largest weekly gain since the 2021 crypto bull market. However, questions remain about demand for these products, especially given that spot-Ether ETFs won't engage in staking. Further approvals are needed before major issuers like BlackRock Inc. and Fidelity Investments can launch products. Despite the uncertainty, some traders are betting on Ether reaching $5,000, while volatility indicators suggest larger swings in Ether compared to Bitcoin. Analysts are closely monitoring futures activity as a gauge of institutional interest, with open interest in CME Ether futures relatively lower than Bitcoin futures, potentially indicating a cautious approach from institutions.
Source: YAHOO