Share this article
Ether ETF Hopes Drive Futures Open Interest to Record $14B
The notional open interest, or the dollar value locked in the number of active ether futures contracts, surged by 25% in a day.
Updated May 21, 2024, 7:42 a.m. Published May 21, 2024, 7:40 a.m.
- Notional open interest in futures tied to ether surged 25% in a single day.
- The increase is a sign of investor hopes that the SEC will approve spot ether ETFs.
Ether futures are more popular than ever, following the sudden, positive turnaround in sentiment concerning the potential approval of spot ETH exchange-traded funds (ETFs) in the U.S.
Notional open interest, or the dollar value locked in the number of active ether futures contracts, climbed 25% to a record $14.05 billion in the past 24 hours, according to data source Coinglass. The previous lifetime peak of $13.2 billion dates back to March 15.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The increase is a sign of a renewed influx of money into the ether market, mainly on the bullish side, as the second-largest cryptocurrency by market cap added almost 19% to $3,680, according to CoinDesk data. The uptick in open interest alongside a price rise is said to confirm the uptrend.
Late Monday, Bloomberg's ETF analysts increased the probability of the U.S. Securities and Exchange Commission (SEC) green lighting the spot ETH ETFs to 75% from 25%. Meanwhile, CoinDesk reported that the SEC had asked exchanges looking to list and trade potential spot ether ETFs to update 19b-4 filings on an accelerated basis, a sign of the regulator attempting to fast-track the process.
See also: U.S. Senate Votes to Kill SEC's Crypto Accounting Policy, Testing Biden's Veto Threat
Since then, the crypto community on X is speculating that the SEC might lean in favor of approving a spot ETH ETF, potentially signaling a broader constructive regulatory outlook toward crypto.
If the spot ETH ETF is approved, it will be a true shock to everyone I know in DC who's close to this process.
— Jake Chervinsky (@jchervinsky) May 20, 2024
That doesn't mean it won't happen.
It means approval could signal a major shift in US crypto policy after the SAB 121 vote, perhaps more important than the ETF itself. https://t.co/ru0iD0GJIC
The regulator is scheduled to make a decision on the VanEck spot ether ETF on May 23. The SEC must approve the 19b-4 filings and the S-1 registration statements for ether ETFs to commence trading on stock exchanges.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Barclays Sees ‘Down-Year’ for Crypto in 2026 Without Big Catalysts
Spot trading volumes are cooling, and investor enthusiasm is fading amid a lack of structural growth drivers, analysts wrote in a new report.
What to know:
- Barclays forecasts lower crypto trading volumes in 2026, with no clear catalysts to revive market activity.
- Spot market slowdowns pose revenue challenges for retail-focused platforms like Coinbase and Robinhood, the bank said.
- Regulatory clarity, including pending market structure legislation, could shape long-term market growth despite near-term headwinds.
Top Stories
