ETH Options Traders Ante Up on Upside Bets Ahead of ETF Launch
CryptoNewsTerminal Staff03 Jul, 2024
ETH Options Traders Ante Up on Upside Bets Ahead of ETF Launch
ETH options traders are eagerly anticipating the upcoming launch of a physical ETH exchange-traded fund (ETF), and their actions reflect a bullish outlook. According to CoinDesk, ETH's 30-day and six-month put-call skews, which measure the volume of call options relative to put options, remain firmly positive. This indicates a strong bias towards upward price movements, mirroring the sentiment in the bitcoin options market prior to the launch of the first bitcoin futures ETF. The bullish sentiment among ETH options traders is a testament to their belief that the ETF will boost demand for the cryptocurrency, driving its price higher. As the launch date approaches, it will be interesting to see if this bullish sentiment materializes into significant price gains for ETH.
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