Ethereum Rises 20%, Futures Open Interest Hits Record $15B As ETF Approval Odds Jump To 75%
Portfolio Pulse from Benzinga Neuro
Ethereum futures open interest has reached a record $15.1 billion, driven by optimism about the potential approval of spot ETH ETFs in the U.S. Bloomberg analysts have increased the likelihood of approval from 25% to 75%, and the SEC has requested expedited filings from exchanges. Ethereum's price has surged by nearly 20% in the last 24 hours.
May 21, 2024 | 11:00 am
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
Ethereum futures open interest has reached a record $15.1 billion, driven by optimism about the potential approval of spot ETH ETFs in the U.S. Bloomberg analysts have increased the likelihood of approval from 25% to 75%, and the SEC has requested expedited filings from exchanges. Ethereum's price has surged by nearly 20% in the last 24 hours.
The record high in Ethereum futures open interest and the increased likelihood of ETF approval are strong bullish signals. The SEC's actions to expedite filings further support this positive sentiment, leading to a significant price surge.
CONFIDENCE 95
IMPORTANCE 100
RELEVANCE 100