hold or not - ETH Futures Skyrocket to 3.1M, Hinting at Ethereum ETF Approval!

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LIVE UPDATES • Unleash your crypto potential: KK Miner paves the way for extraordinary returns • ETH Futures Skyrocket to 3.1M, Hinting at Ethereum ETF Approval! • Bitcoin Spot ETFs See $216M Net Inflow, BlackRock and Fidelity Lead Gains! • German Bitcoin Selling Spree: Government Continues 1000 BTC Transfers • BLAST Token Holders Will Be Supported With 2x Points In The Future • Registration Now Open for Gate.io WCTC S6 Competition, Offers Up To $5 Million in Prizes • BlackRock Spot Bitcoin ETF Returns Positive With $121.3M Inflows • Flipster Launches Trading Competitions with 150,000 USDT worth of prizes to Celebrate 1st Anniversary • Suriname Presidential Candidate Promotes Bitcoin As New Legal Tender • TON Blockchain Layer 2 Coming Soon With the Support of Polygon’s Technology

News ETH Futures Skyrocket to 3.1M, Hinting at Ethereum ETF Approval! 3 hours ago - Around 2 mins mins to read

Key Points:

Ethereum futures long positions grew from 2.7M to 3.1M ETH since May 20.

Traders anticipate Ethereum ETF approval, which is reflected in the surge of future positions and signal confidence in regulatory developments.

Matrixport published an earlier today highlighting an unprecedented bull trend in ETH futures positions.

Despite the recent price correction, ETH futures long positioning surged from 2.7 million ETH to 3.1 million ETH after the market recovered since May 20. This means that futures traders have become very optimistic about a potential Ethereum ETF approval in the near future.

The surge in ETH futures longs shows an extremely confirmed belief among traders that regulatory approval for an ETF centred on Ethereum is looming despite the spot price of ETH, which has yet to reflect the same degree of optimism. Analysts say this could be a delayed spot market reaction or further bullishness until the ETF approval expectation materializes.

Read more: Spot Ethereum ETF Approval Likely to Happen on July 4

Ethereum Futures Surge Amid ETF Optimism

Some experts have proposed that an already bullish positioning on the ETH futures would not immediately draw a “sell the news” event. ETF approval would likely keep traders maintaining or increasing their positions, considering further price increases post-approval.

Further analysis by Matrixport indicates that institutional and retail investors are looking to position appropriately to take advantage of possible ETF-related developments in the Ethereum market. This would then be a part of the greater trend whereby market participants look beyond immediate price action and into accused future regulatory strides and institutional adoption that might be fueled by these developments.

ETH Futures ETH Futures Skyrocket ethereum etf Ethereum ETF Application Ethereum ETF Approval

Author Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

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ETH Futures Skyrocket to 3.1M, Hinting at Ethereum ETF Approval!