As reported by Wu Shuo, QCP Capital said that the ETH spot price rebounded sharply from the morning low of $3,400, and the front-end implied volatility increased significantly to 65%. This bullish sentiment is supported by two developments: First, the U.S. Securities and Exchange Commission (SEC) is concluding its investigation into Ethereum 2.0, ruling out charges that ETH sales were securities transactions.
Secondly, the proposed Ethereum ETF issuers are responding to the SEC's comments and plan to submit feedback this week. The options market also reflects this optimism, with traders observing active top-end call options activity across all maturities. Although the market acceptance of the ETH ETF is uncertain, if it can attract 10-20% of the Bitcoin ETF flow, it could push the ETH price above $4,000, close to its peak of $4,800.
