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Ethereum derivatives data indicate mixed sentiments following SEC Chair comments on ETH ETF approvals

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Ethereum's (ETH) price was down nearly 5% on Thursday as Securities & Exchange Commission (SEC) Chair Gary Gensler suggested spot ETH ETFs will likely receive approval over the course of the summer.

Ethereum ETF S-1s will likely be approved by the end of the summer, says SEC Chair Gary Gensler. Ethereum exchange reserves have declined by about $4 billion in past two weeks. Ethereum derivatives data reveal divergent sentiment among short-term and long-term traders. Ethereum's price was down nearly 5% on Thursday as Securities & Exchange Commission Chair Gary Gensler suggested spot ETH ETFs will likely receive approval over the course of the summer.

However, this is likely a short-term bearish view, as traders may be looking to profit from the Federal Reserve's conservative outlook on interest rates. Also read:Ethereum ecosystem sees impressive Q1 earnings, issuers plan to market ETH as the ‘ultimate app store’ Deribit's options data shows that ETH's put/call ratio is at 0.32, indicating strong bullish sentiment from traders. A PCR above 0.

 

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