According to BlockBeats, Singapore-based cryptocurrency investment firm QCP Capital has reported a noticeable calm in the options market as the end of the quarter approaches. This is typically a time when volatility is sold off. The firm also noted that the Ethereum (ETH) exchange-traded fund (ETF) is set to begin trading soon.
VanEck, a well-known investment management firm, has submitted an 8-A form, which is typically filed seven days before the issuance of a similar Bitcoin ETF. Following this, VanEck announced that it would waive all fees during the initial stages of its ETH ETF.
Despite these developments, the ETH options market expiring in July has not shown much enthusiasm to date. If there are significant breakthroughs in the approval process, it could surprise the market. QCP Capital also pointed out that ETH has shown strong support levels at $3,200 and $2,800, especially the $2,800 support level, which has not been touched for over four months.