According to ChainCatcher, data released by Deribit's Asia-Pacific business manager shows that a user purchased a $3,200 call option at the end of August, totaling 5,000 ETH, and paid a premium of $1.43 million.

He said that this shows that the option user believes that the recent approval of the spot ETF will boost market sentiment and drive prices up, and that the price will be higher than $3,500 at expiration, which means it will be profitable. The current market consensus is that the Ethereum spot ETF will be approved as early as this week.