“Lyra options markets are implying a ~20% chance of ETH reaching $5,000 by June 28,” Nick Forster, Lyra’s founder and a former Wall Street options trader, told CoinDesk in an email. “There is a 20% chance of ETH moving above $5,500 by July 26, as traders have increased positioning post the ETF speculation.” Source
The FCA introduced a ban on crypto derivatives products including ETPs in January 2020. However, with such products being widely available in Europe for several years and following the U.S. spot ETFs listing approvals, the regulator adjusted its stance. It is keeping the ban in place for for retail investors. Source
Tuesday was also the third day in a row of inflows, marking a break from the general trend of decreasing ETH balance on exchanges, Nansen data shows. The last time ETH experienced consecutive days of inflows to exchanges was in March, near this year’s peak in crypto prices. Source
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The change of fortunes leaves Gala with an unexpected $23 million windfall in ETH tokens. “We will probably buy and burn on galaswap,” said the project’s CEO Eric Schiermeyer, also known as Benefactor, in its Discord server. That means using the ETH to buy GALA tokens and then taking those tokens out of circulation. Source
In previous filings, the firm said it intended to “stake a portion of the trust’s assets” to “one or more” infrastructure providers. However, it clearly stated in Tuesday’s update that it would “not stake the ether” stored with the custodian. Source
Galaxy Digital’s Alex Thorn suggests that the SEC might classify staked Ethereum as a security in a bid to find a loop to approve spot Ethereum ETF. The U.S. Securities and Exchange Commission (SEC) might make an eyebrow-raising turn regarding the approval of spot Ethereum exchange-traded funds (ETFs), according to Galaxy Digital head of research Alex Thorn. if the speculation about a 180 from SEC on the ethereum ETFs is true, i would guess they try to thread a needle between “ETH” NOT being a security and “staked ETH” (or…
Late Monday, Bloomberg’s ETF analysts increased the probability of the U.S. Securities and Exchange Commission (SEC) green lighting the spot ETH ETFs to 75% from 25%. Meanwhile, CoinDesk reported that the SEC had asked exchanges looking to list and trade potential spot ether ETFs to update 19b-4 filings on an accelerated basis, a sign of the regulator attempting to fast-track the process. Source
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated. CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as…
As a result of this significant development, the ether implied volatility curve, which shows market expectations of future volatility across different strike prices and expirations, flattened as 25-delta risk reversals hit YTD highs above 18%, and traders heavily bought $4000 calls for 24 May 2024 and 31 May, Presto Research analysts wrote in a note shared with CoinDesk. Source