ETH Lags Peers Despite Approval of US Spot ETF

Ethereum [ETH] has lagged behind its major peers, such as Bitcoin [BTC] and Solana [SOL], despite US spot ETF approval in Q2. However, on Friday, the 13th of September, there was strong renewed interest in the largest altcoin.

Options Market Signals Bullish Expectations

According to the Singapore-based crypto trading firm QCP Capital, ETH options spiked with much interest in contracts targeting $3k by the year-end. This surge in the options market, including Open Interest (OI) rates, indicated bullish expectations and potential price appreciation in Q4.

Institutional Interest Reinforces Bullish Outlook

The Chicago Mercantile Exchange (CME) data confirmed QCP Capital's outlook. On the 13th of September, ETH recorded a sharp uptick in volume and OI for the first time this month. The OI surged to $3.1 billion while volume hiked nearly to $700 million, reinforcing institutional interest in the altcoin.

Source: https://ambcrypto.com/ethereum-options-spike-eth-to-surge-to-3k-by-december/

The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.