Ethereum Open Interest Reaches $14B High
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Ether futures open interest has hit a record high of $14 billion, signifying increased market activity. Interestingly, this rise in Ether open interest coincides with Ethereum’s price surge to $3,650, an increase of 18% in the last 24 hours. The increased chances of a possible Ethereum ETF approval have fueled this bullish outlook on Ethereum. Bloomberg ETF analysts have raised the chances of the agency’s approval from 25% to 75%. The first round of spot Ether ETF deadlines is approaching, with VanEck’s on May 23 and Ark Invest’s on May 24.
