Crypto markets largely maintained this week's gains as Ethereum and the U.S. Securities and Exchange Commission approved spot exchange-traded funds.

However, Bitcoin options contracts with a notional value of approximately $1.4 billion are set to expire on May 24.

Expiration of 21,000 contracts is a relatively minor event compared to the May 31 month-end expiration, when $4.3 billion of options will expire, according to Deribit.

Bitcoin Options Expiry

This week's put/call ratio for Bitcoin options contracts is 0.88, meaning sellers of long and short contracts are relatively evenly matched, with slightly more calls expiring. The maximum crunch point, or the price at which most option contract buyers lose their premiums, is $67,000.

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