The approval of spot Ethereum ETFs added a layer of legitimacy to the crypto ecosystem, yet it didn’t ignite a massive price rally for ETH. Instead, the real action surged in the derivatives market. Futures open interest catapulted from $10.57 billion to an all-time high of $17.12 billion, fueled by speculative fervor and institutional involvement, notably on exchanges like Binance and CME. But the real game-changer became evident when...
Ethereum futures hit record highs following spot ETF approval
Futures open interest hits all-time high as spot Ethereum ETFs attract institutional investors.
3 min read
Updated: May. 29, 2024 at 1:32 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Ethereum is an open source smart contract platform and decentralized network that underpins a large share of the global crypto economy.
Binance
Binance is one of the world’s largest centralized cryptocurrency exchanges by trading volume, offering spot, derivatives, and earning products to a global retail and institutional user base.
Deribit
Deribit is an institutional grade cryptocurrency derivatives platform that is a leader in the crypto options market.
CME Group
CME Group is a global markets company empowering participants to efficiently manage risk and capture opportunities in every major asset class..
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
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