Ethereum

Rally

Spot

<h4><strong>This surge is supported by a 75% increase in trading volumes, reaching $22 billion, signaling a strengthening upside momentum.</strong></h4> 
<p>In February, the total derivatives trading volume on CME rose 1.58% to $96.4 billion. Let’s discover more about Ethereum (ETH).</p> 
<h5><strong>Surge in Trading Volumes Signals Bullish Momentum for ETH</strong></h5> 
<p>BTC futures volumes on the exchange increased by 0.31% to $74.2 billion, while ETH futures volume grew 3.25% to $17.1 billion.</p> 
<p><img decoding="async" class="wp-image-136194 aligncenter" src="https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-300x142.png" alt="" width="617" height="292" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-300x142.png 300w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-1024x484.png 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-768x363.png 768w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-1536x726.png 1536w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-696x329.png 696w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-1068x505.png 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4-889x420.png 889w, https://www.altcoinbuzz.io/wp-content/uploads/2024/03/image-4.png 2000w" sizes="(max-width: 617px) 100vw, 617px"></p> 
<h6 style="text-align: center;"><strong>Source: <a href="https://ccdata.io/" target="_blank" rel="noopener">CCData</a></strong></h6> 
<p>BTC options volume on the exchange extended 8.21% to $1.70 billion. Conversely, ETH options volume on the exchange reached an all-time high, surging by 26.4% to $655 million.</p> 
<p>This data suggests that institutional players increasingly focus on Ethereum, anticipating upcoming catalysts such as the Dencun upgrade and a potential Spot Ethereum ETF later in the year.</p> 
<p>The Dencun upgrade is often hailed as the most significant enhancement to Ethereum since the Merge. It aims to implement several Ethereum Improvement Proposals (EIPs), including EIP-4844, which introduces “proto-danksharding.”</p> 
<p>Proto-danksharding is a feature designed to improve transaction processing efficiency by utilizing blobs. It expedites transactions and reduces costs for layer-2 chains and rollups dependent on Ethereum. The Ethereum developers have scheduled the Dencun mainnet launch for March 13.</p>  
<h5><strong><span class="notion-enable-hover" data-token-index="0">Pending Spot ETH ETFs</span></strong></h5> 
<p>Moreover, optimism surrounds the potential approval of spot Ether ETF applications by the <a href="https://www.altcoinbuzz.io/?s=sec" target="_blank" rel="noopener">SEC</a>. Despite the regulator’s decision to postpone its judgment on spot Ethereum ETF applications from BlackRock and Fidelity, market participants remain hopeful that approval will come soon.</p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">SEC just delayed <a href="https://twitter.com/InvescoUS?ref_src=twsrc%5Etfw">@InvescoUS</a> &amp; <a href="https://twitter.com/galaxyhq?ref_src=twsrc%5Etfw">@galaxyhq</a>'s <a href="https://twitter.com/hashtag/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#Ethereum</a> ETF. 100% expected and more delays will continue to happen in coming months. </p> 
 <p>The only date that matters for spot <a href="https://twitter.com/hashtag/ethereum?src=hash&amp;ref_src=twsrc%5Etfw">#ethereum</a> ETFs at this time is May 23rd. Which is <a href="https://twitter.com/vaneck_us?ref_src=twsrc%5Etfw">@vaneck_us</a>'s final deadline date <a href="https://t.co/gkVZL2QuPK">pic.twitter.com/gkVZL2QuPK</a></p> 
 <p>— James Seyffart (@JSeyff) <a href="https://twitter.com/JSeyff/status/1754941423411949596?ref_src=twsrc%5Etfw">February 6, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<ul> 
 <li>Some anticipate that the SEC will announce its decision on all spot Ether ETF applications simultaneously, following a similar approach to its handling of Bitcoin ETFs on January 10, to maintain fairness among applicants.</li> 
 <li>The statutory deadline for the SEC’s decision on ETFs is scheduled for May 23rd.</li> 
</ul> 
<h5><strong><span class="notion-enable-hover" data-token-index="0">Is ETH ETF Fever Waning?</span></strong></h5> 
<p>According to Fox Business correspondent Eleanor Terrett on March 11, optimism regarding the US SEC’s approval of spot Ethereum ETFs by May 23 appears to be diminishing.</p> 
<ul> 
 <li>Recent meetings have been predominantly one-sided based on discussions with individuals familiar with the situation.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">SCOOP: Optimism about the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw">@SECGov</a> approving the <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$ETH</a> spot ETFs by May 23rd is waning. </p> 
 <p>Based on my conversations with people familiar, meetings in recent weeks have been very much one sided, with issuers and custodians trying to rally SEC staff to get the process rolling, but…</p> 
 <p>— Eleanor Terrett (@EleanorTerrett) <a href="https://twitter.com/EleanorTerrett/status/1766901351252951184?ref_src=twsrc%5Etfw">March 10, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Terrett noted that issuers and custodians have been attempting to encourage SEC staff to expedite the process.</p> 
<ul> 
 <li>However, unlike the interactions seen with BTC spot ETF applications, these efforts have not resulted in meaningful engagement.</li> 
 <li>Moreover, anti-crypto figures such as Elizabeth Warren are expressing discontent with the SEC’s approval of Bitcoin ETFs and are actively opposing similar approval for Ethereum.</li> 
</ul> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">If ether futures aren’t *highly* correlated w/ spot market, then why did SEC approve ether futures ETFs in Oct…</p> 
 <p>How does that protect investors?</p> 
 <p>Not saying SEC gonna approve spot ether ETFs, but not sure how they deny based on lack of correlation. Would be pretty bad look IMO.</p> 
 <p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1766951600629731375?ref_src=twsrc%5Etfw">March 10, 2024</a></p>
</blockquote> 
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p> 
<p>Meanwhile, Nate Geraci, President of the ETF Store, reveals that the SEC has argued against the high correlation between Ethereum futures and spot markets.</p> 
<ul> 
 <li>Grayscale’s legal victory could serve as a compelling reason for approval, and the SEC’s options are to either reverse years of tacit acceptance of Ether as a commodity or potentially face new legal challenges if issuers decide to pursue them.</li> 
 <li>Anyhow, the situation appears straightforward: if the SEC is comfortable with investors holding ETH futures ETFs, they should likewise be amenable to spot Ethereum ETFs.</li> 
</ul> 
<p><a href="https://www.patreon.com/altcoinbuzz" target="_blank" rel="noopener"><img decoding="async" class="aligncenter wp-image-124240" src="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg" sizes="(max-width: 714px) 100vw, 714px" srcset="https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-300x37.jpg 300w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1024x127.jpg 1024w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-768x95.jpg 768w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-696x86.jpg 696w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1-1068x132.jpg 1068w, https://www.altcoinbuzz.io/wp-content/uploads/2023/09/image-7-1-1.jpg 1197w" alt="Coins" width="714" height="88"></a></p> 
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<p>The post <a href="https://www.altcoinbuzz.io/bitcoin-and-crypto-guide/ethereum-eth-rally-incoming/">Ethereum (ETH) Rally Incoming?</a> appeared first on <a href="https://www.altcoinbuzz.io">Altcoin Buzz</a>.</p>

Ethereum (ETH) Rally Incoming?

Altcoin Buzz

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