Wu said he learned that QCP Capital issued a statement stating that the spot price of ETH rebounded sharply from the morning low of $3,400, and the front-end implied volatility increased significantly to 65%. This strong 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; second, a proposed Ethereum ETF The issuer is responding to the SEC's comments and plans to submit feedback this week. The optimism is mirrored in the options market, with traders observing active call activity at the top end of each tenor. While market acceptance of an ETH ETF is uncertain, attracting 10-20% of Bitcoin ETF flows could push ETH prices above $4,000, closer to its peak of $4,800.