Ethereum open interest grows as market hype grows around spot ETFs
Summary
Ethereum Exchange-Traded Funds (ETFs) launched in the US with a trading volume of $1.11 billion, indicating strong market interest. BlackRock contributed significantly to this with an influx of $266.5 million. In the first 90 minutes, trading volumes reached $361 million. The surge in ETFs is significantly impacting the Ethereum derivatives market, with CoinGlass data showing a sharp spike on July 24. This growing interest could potentially pose a hidden risk for Ethereum.
