ETH ETF Application
Reports hinted at SEC approval of spot ETH ETFs before the May 20 deadline, surprising the market amidst waning Q2 hopes. ETH surged to nearly $4,000, but excitement diminished as the SEC reviewed S-1 filings. Investors await the ETFs’ launch, with their market impact largely factored in.
SOL’s Derivative Market Reaction
SOL’s ETF news had minimal impact on derivatives, swiftly dissipating after the announcement. Although SOL’s funding rate briefly rose on June 27, it quickly returned to neutral levels, signaling subdued bullish sentiment. Open interest saw marginal change, remaining 20% below early June levels.
