Ethereum futures volume surpasses Bitcoin for first time amid 5 month high
The post Ethereum futures volume surpasses Bitcoin for first time amid 5 month high appeared on BitcoinEthereumNews.com. Ethereum’s daily futures trading volume exceeded Bitcoin’s for the first time on July 10, a landmark development that coincided with the asset’s price testing the $3,000 level. The technical flip in the derivatives market indicates a potential shift in trader sentiment and capital allocation, lending credence to narratives of a changing market structure. Data from Glassnode showed that 24-hour Ethereum futures volume reached $62.1 billion, surpassing Bitcoin’s $61.7 billion. The ratio of ETH to BTC futures volume surged past parity, demonstrating that traders are, for the first time, speculating on and hedging with Ethereum at a scale comparable to Bitcoin. Crypto futures volume (Source: Glassnode) Spot Ethereum ETFs in the US, which have provided a more traditional pathway for exposure to ETH, are partly fueling this. July 10 saw record-breaking inflows of 138,000 ETH, and the second-largest inflow in dollar terms at $381 million. ETH ETF inflows (Source: Coinglass) However, they come with a critical distinction. The currently approved ETFs do not permit the staking of the underlying assets. This means investors miss out on the yield generated through network validation, a core component of Ethereum’s economic model and a feature that positions it as a potentially yield-bearing asset. To this point, the SEC has delayed decisions on allowing staking within these products. However, a Solana staking ETF is now live, indicating tides are changing. Beyond the influence of ETFs, other forms of institutional adoption are growing. The move by some corporate treasuries to acquire Ethereum signals a deepening conviction in the asset’s long-term value. This month, BTCS Inc., a blockchain technology company, announced a strategy to raise $100 million for strategic Ethereum acquisitions. In a statement reported by Nasdaq, BTCS CEO Charles Allen framed the pivot as a testament to a belief that Ethereum “has significant growth potential and is central…
The post Ethereum futures volume surpasses Bitcoin for first time amid 5 month high appeared on BitcoinEthereumNews.com.
Ethereum’s daily futures trading volume exceeded Bitcoin’s for the first time on July 10, a landmark development that coincided with the asset’s price testing the $3,000 level. The technical flip in the derivatives market indicates a potential shift in trader sentiment and capital allocation, lending credence to narratives of a changing market structure. Data from Glassnode showed that 24-hour Ethereum futures volume reached $62.1 billion, surpassing Bitcoin’s $61.7 billion. The ratio of ETH to BTC futures volume surged past parity, demonstrating that traders are, for the first time, speculating on and hedging with Ethereum at a scale comparable to Bitcoin. Crypto futures volume (Source: Glassnode) Spot Ethereum ETFs in the US, which have provided a more traditional pathway for exposure to ETH, are partly fueling this. July 10 saw record-breaking inflows of 138,000 ETH, and the second-largest inflow in dollar terms at $381 million. ETH ETF inflows (Source: Coinglass) However, they come with a critical distinction. The currently approved ETFs do not permit the staking of the underlying assets. This means investors miss out on the yield generated through network validation, a core component of Ethereum’s economic model and a feature that positions it as a potentially yield-bearing asset. To this point, the SEC has delayed decisions on allowing staking within these products. However, a Solana staking ETF is now live, indicating tides are changing. Beyond the influence of ETFs, other forms of institutional adoption are growing. The move by some corporate treasuries to acquire Ethereum signals a deepening conviction in the asset’s long-term value. This month, BTCS Inc., a blockchain technology company, announced a strategy to raise $100 million for strategic Ethereum acquisitions. In a statement reported by Nasdaq, BTCS CEO Charles Allen framed the pivot as a testament to a belief that Ethereum “has significant growth potential and is central…
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