Ethereum’s Shanghai Upgrade Boosts Institutional Interest in ETH Futures Trading

Ethereum, the world's second-largest cryptocurrency by market value, recently implemented the highly anticipated Shapella hard fork, also known as the Shanghai upgrade, on April 12. This update has reduced the risk of staking the blockchain's native token, ether (ETH), by allowing withdrawals of locked coins at will. This pivotal event has galvanized institutional interest in ETH futures trading.

Since April 10, the number of active ether futures contracts trading on the Chicago Mercantile Exchange (CME) has risen by 39% to 6,248, according to official data. In U.S. dollar terms, open interest has increased by over 70% to $633 million. Coinglass data also shows that the tally reached a 12-month high of $675 million on Friday.

Each futures contract has a value of 50 ETH and is quoted in US dollars per 1 ether. The recent surge in institutional interest in ETH futures trading suggests that more investors are willing to bet on the potential growth of Ethereum and its native token. This increased demand for futures contracts can also be attributed to the lowered risk of staking ETH due to the successful implementation of the Shanghai upgrade.

 The successful implementation of the Shapella hard fork has not only reduced the risk of staking ETH but has also boosted institutional interest in ETH futures trading. This is a positive development for Ethereum and its native token, as it signals growing confidence in the future growth of the cryptocurrency market.


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