Ether ETF Hopes Drive Futures Open Interest to Record $14B

The biggest and most established global event for everything crypto, blockchain and Web3.The increase is a sign of investor hopes that the SEC will approve spot ether ETFs.futures are more popular than ever, following the sudden, positive turnaround in sentiment concerning the potential approval of spot ETH exchange-traded funds in the U.S.

Notional open interest, or the dollar value locked in the number of active ether futures contracts, climbed 25% to a record $14.05 billion in the past 24 hours, according to data sourceThe increase is a sign of a renewed influx of money into the ether market, mainly on the bullish side, as the second-largest cryptocurrency by market cap added almost 19% to $3,680, according toLate Monday, Bloomberg's ETF analysts increased the probability of the U.S.

The regulator is scheduled to make a decision on the VanEck spot ether ETF on May 23. The SEC must approve the 19b-4 filings and the S-1 registration statements for ether ETFs to commence trading on stock exchanges.

Source: Financial Digest (financialdigest.net)

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