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Ethereum price surges amid speculation of spot ETF – What is the current positioning of ETH options markets?

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Ether (ETH) Price Surges 18% as Approval Odds for Ethereum ETF Increase

Title: Ether (ETH) Price Surges 18% as Approval Odds for Ethereum ETF Increase

On May 20, the price of Ether (ETH) experienced a significant surge of over 18% following news that the approval odds for an Ethereum exchange-traded fund (ETF) had been raised from 25% to 75%. Eric Balchunas, a senior analyst at Bloomberg, made the announcement, suggesting that the United States Securities and Exchange Commission (SEC) may be facing political pressure to reconsider their stance on ETF applicants.

Balchunas highlighted that the SEC is reportedly requesting exchanges like the NYSE and Nasdaq to update their filings, although there has been no official confirmation from the regulator. Nate Geraci, co-founder of the ETF Institute, added that the final decision is still pending regarding the registration requirement for individual funds (S-1s).

The impending decision on the spot Ethereum ETF has sparked increased interest in the upcoming $3 billion ETH options expiry. Deribit, the leading derivatives exchange, has recorded significant open interest for both weekly and monthly ETH options expiries, with the call-to-put ratio heavily favoring call options.

If Ether’s price remains above $3,600 by the expiry dates, call options holders stand to benefit significantly, with potential open interest favoring bullish strategies. The unexpected 18% increase in Ether’s price has caught option traders by surprise, setting the stage for further positive momentum in the market.

As the SEC reconsiders its position on Ethereum ETFs, investors and traders are closely monitoring the developments, anticipating potential opportunities for profit in the cryptocurrency market.

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