{"id":20929,"date":"2024-05-21T10:00:50","date_gmt":"2024-05-21T07:00:50","guid":{"rendered":"https:\/\/coinengineer.io\/?p=20929"},"modified":"2024-05-21T09:13:07","modified_gmt":"2024-05-21T06:13:07","slug":"ethereum-price-soars-to-two-month-high-amid-etf-speculation","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/ethereum-price-soars-to-two-month-high-amid-etf-speculation\/","title":{"rendered":"Ethereum Price Soars to Two-Month High Amid ETF Speculation"},"content":{"rendered":"<p>The price of <strong>Ethereum<\/strong> <strong>on May 20 jumped over 18%<\/strong>, hitting a two-month high of <strong>$3,700.<\/strong> This massive increase was caused by high hopes for an acceptance of a spot Ethereum exchange traded fund (ETF). Eric Balchunas, a senior analyst at Bloomberg, increased the approval rate from 25% to 75%, and he said that the dynamics could change considering the forthcoming political pressure on US Securities and Exchange Commission (SEC).<\/p>\n<p>Balchunas made a comment that <strong>\u201cThe earlier position of SEC hinted little engagement towards ETF applicants, but recent moves demonstrate that they might be feeling the heat.\u201d<\/strong> He also told that the SEC is said to ask exchanges like NYSE and Nasdaq to redo their filings, although no official notice has been given by the regulator.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_71 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-price-soars-to-two-month-high-amid-etf-speculation\/#Analysts_Weigh_In_on_SEC_Decision\" title=\"Analysts Weigh In on SEC Decision\">Analysts Weigh In on SEC Decision<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-price-soars-to-two-month-high-amid-etf-speculation\/#Options_Market_Reacts_to_Price_Surge\" title=\"Options Market Reacts to Price Surge\">Options Market Reacts to Price Surge<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Analysts_Weigh_In_on_SEC_Decision\"><\/span>Analysts Weigh In on SEC Decision<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>However, Nate Geraci, ETF Institute co-founder and ETF Store president, emphasized the difficulty in the approval process. Geraci notes that, <strong>\u201cThe SEC can finalize exchange rule changes apart from the fund\u2019s registration which could extend the decision beyond the May 23 deadline of VanEck\u2019s Ethereum spot ETF request.\u201d<\/strong><\/p>\n<p>This postponement allows the SEC to further examine the documents, given the risks tied to Proof-of-Stake (PoS) cryptocurrencies. The expectancy around the ETF verdict has clearly raised the attention towards the weekly and monthly ETH option expiries.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Options_Market_Reacts_to_Price_Surge\"><\/span>Options Market Reacts to Price Surge<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The top derivatives exchange, Deribit, records Ether options open interest for May 24 at $867 million, and for May 31, this amount surges at <strong>$3.22 billion.<\/strong> Unlike, CME\u2019s monthly ETH options open interest is $259 million, whereas for OKX is $229 million.<\/p>\n<p>Bullish sentiment can be seen among traders at Deribit through the call-to-put ratio which heavily favours call options. If Ether\u2019s price is higher than $3,600 by May 24, just $440,000 out of the put positions will be justified. The holders of call options up to $3,600 will exercise their call, creating expensive open interest position of $397 million in favor of the buy.<\/p>\n<p>The bets are now focused on the monthly expiry for May 31. If the price of <a href=\"https:\/\/coinengineer.net\/blog\/ethereum-researchers-adviser-role-at-eigenlayer-sparks-controversy\/\">Ether<\/a> is over $3,600, 97% of the put options will become irrelevant, resulting in a significant majority of call options. An example is that when the price of Ether is at $4,550, the net open interest will be call options by $1. 92 billion.<\/p>\n<p>Moreover, the price of Ether jumped by 18% unexpected which left option traders unawares and set the scene for remarkable earnings with bullish strategies. Such profits are expected to be reinvested which will support the positive trend of the price of Ether after the expiry.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of Ethereum on May 20 jumped over 18%, hitting a two-month high of $3,700. This massive increase was caused by high hopes for an acceptance of a spot Ethereum exchange traded fund (ETF). Eric Balchunas, a senior analyst at Bloomberg, increased the approval rate from 25% to 75%, and he said that the<\/p>\n","protected":false},"author":6,"featured_media":17809,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[105,1000],"class_list":["post-20929","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-ethereum","tag-ethereum-etf"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Ethereum Price Soars to Two-Month High Amid ETF Speculation - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Ethereum&#039;s price surged to $3,700, a two-month high, driven by speculation on spot ETH ETF approval, significantly impacting the options market and investor sentiment.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/ethereum-price-soars-to-two-month-high-amid-etf-speculation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ethereum Price Soars to Two-Month High Amid ETF Speculation - 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