Dealers bet that Ethereum 2022 will benefit from the ETF boost

retailers position themselves for an increase in Ethereum prices and rely on the leading securities supervisory authority of Wall Street will give the green light for a US stock exchange-traded fund next year.

The pricing in options, instruments with which investors can bet on future movements of financial investments indicate that market participants bet that Ethereum will more than triple to $ 15,000 by next year.

The move takes place one week after the Securities and Exchange Commission has cleared the way for the introduction of the first Bitcoin Linked ETF. Investors flowed more than $ 1 billion into the Bitcoin strategy fund Proshares, which prompted him to buy futures contracts that represent the price of Bitcoin. This in turn drove the Bitcoin price to an all-time high.

retailers are now relying on a repetition scenario for Ethereum ETFs: "The market seems to be optimistic about the potential of Ethereum until the end of the year or in the first quarter," Luuk Strijers, Chief Commercial Officer at Deribit, one of the largest crypto options, said.

According to Adam Farthing, Chief Risk Officer for Japan at the crypto special trade company B2C2, the purchase interest in traded derivate contacts is "exploded" that investors give the right, but not the obligation to buy Ethereum for $ 15,000 in March next year. Farthing said that the time of this bet indicates that investors were optimistic about a similar decision for the digital currency traded on the second most.

Ethereum was traded in a remarkable range of record highs at $ 4,000 on Wednesday.

"This river started around the time when the Bitcoin ETF was confirmed and is considered a whale position for an Ethereum Future ETF announcement," said Farthing and referred to great owners of the digital token.

The laying of the Proshares Fund, which followed Valkyrie Fund a similar future-backed product, has aroused expectations that the SEC will make a positive decision on the more than 20 examined applications.

"The SEC and Commodity Futures Trading Commission have shown that they will be aware of the crypto -related funds that are ready to allow, but the last week has shown that this type of products is asked", Steven McClurg, Chief Investment Officer at Valkyrie Funds.

Nevertheless, the ETF sponsors remain skeptical that the SEC will act in the near future.

Proshares and the Digital Asset Manager Vaneck made applications for the introduction of ETFs to Ethereum at the beginning of the year, but they then withdraw their plans. Both Proshares and Vaneck refused to comment on their argument. McClurg von Valkyrie said that due to the low trade activity on the Ethereum Futures markets, expecting an official approval before the end of next year was a "long chance".

Joshua Lim, head of the derivative area at Genesis Trading, said that dealers have given up positive bets on Bitcoin in advance of the approval of the ProShares and instead placed on Ethereum in order to benefit from a positive reaction of the Ethereum Prize if the SEC nods.