Market
Nasdaq Proposes to Trade Options on BlackRock’s Ethereum ETF
BlackRock recently filed a proposal for options trading and listing on its spot Ethereum (ETH) exchange-traded fund (ETF), iShares Ethereum Trust (ETHA).
The proposal was submitted to the US Securities Exchange and Commission (SEC) on August 6 via the Nasdaq International Securities Exchange.
Nasdaq and BlackRock Leverage Experience with Commodity ETFs for Crypto
According to the filing, the newly proposed iShares Ethereum Trust assets will consist solely of ETH, which Coinbase will hold. Meanwhile, the Bank of New York Mellon will hold the cash assets. Furthermore, the document affirmed that the trust will remain non-engaged in Ethereum staking to earn additional income.
Read more: An Introduction to Crypto Options Trading
Nasdaq outlined that this move aims to broaden the range of investment tools for Ethereum and make crypto investments more accessible within traditional financial markets. Although these shares do not equate to a direct investment in ETH, they enable investors to gain exposure to Ethereum. This is because the approach takes place through the public securities market, which might be more familiar to traditional investors.
The options market allows traders to buy or sell an asset, like a stock or an ETF, at a specified price before a certain date. They often use options to protect against potential losses or to speculate on an asset’s future price. Unlike futures, options provide flexibility since the trader can decide whether to execute the trade.
Both Nasdaq and BlackRock have notable experience in listing options on other commodity ETFs structured as trusts. These include iShares COMEX Gold Trust and iShares Silver Trust. Hence, this move to add options to the spot crypto ETF marks a significant development in this context.
James Seyffart, an ETF analyst at Bloomberg Intelligence, commented on Nasdaq and BlackRock’s filing to add options on Ethereum ETFs. He noted that the SEC’s final decision will likely be around April 9, 2025.
“SEC is not the only decision maker on adding options here. Also need signoff from Options Clearing Corporation (OCC) and Commodity Futures Trading Commission (CFTC),” Seyffart added.
BlackRock is a prominent issuer of spot Bitcoin and Ethereum ETFs in the US. According to SoSo Value data, BlackRock’s iShares Bitcoin Trust (IBIT) had net assets of $18.28 billion as of August 5, making it the largest spot Bitcoin ETF.
Read more: Ethereum ETF Explained: What It Is and How It Works
The data also showed that BlackRock’s iShares Ethereum Trust (ETHA) had net assets of $568.65 million as of the same date, ranking it as the third largest spot Ethereum ETF in the US market after Grayscale’s ETHE and Ethereum Trust.
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Market
XRP Price Battles Resistance Around $0.60: Will the Struggle End?
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Market
Bitcoin Cash Price Jumps 15%: Is This Just the Beginning of More Gains?
Bitcoin Cash price started a major increase above the $320 resistance. BCH is consolidating and might aim for more gains above the $350 resistance.
- Bitcoin cash price started a fresh increase above the $330 level.
- The price is trading above $335 and the 100-hour simple moving average.
- There is a bullish flag pattern forming with resistance at $345 on the hourly chart of the BCH/USD pair (data feed from Kraken).
- The pair could start another increase if it clears the $350 resistance zone.
Bitcoin Cash Price Starts Fresh Surge
After forming a base above the $305 level, Bitcoin Cash price started a fresh increase. BCH outpaced Bitcoin and Ethereum to gain over 15%. There was a clear move above the $320 resistance zone.
The price even surpassed $335 and tested the $350 resistance zone. A high was formed near $349.73 and the price is now correcting gains. There was a minor move below the $345 level. The price dipped below the 23.6% Fib retracement level of the upward move from the $306.92 swing low to the $349.73 high.
Bitcoin cash price is now trading above $335 and the 100-hour simple moving average. Immediate resistance on the upside sits near the $345 level. There is also a bullish flag pattern forming with resistance at $345 on the hourly chart of the BCH/USD pair.
A clear move above the $345 resistance might start a decent increase. The next major resistance is near $350, above which the price might accelerate higher toward the $362 level. Any further gains could lead the price toward the $380 resistance zone.
Fresh Drop in BCH?
If Bitcoin Cash price fails to clear the $345 resistance, it could start a fresh decline. Initial support on the downside is near the $335 level. The next major support is near the $328 level or the 50% Fib retracement level of the upward move from the $306.92 swing low to the $349.73 high.
If the price fails to stay above the $328 support, the price could test the $320 support. Any further losses could lead the price toward the $305 zone in the near term.
Technical indicators
4-hour MACD – The MACD for BCH/USD is gaining pace in the bearish zone.
4-hour RSI (Relative Strength Index) – The RSI is currently above the 50 level.
Key Support Levels – $335 and $328.
Key Resistance Levels – $345 and $350.
Market
Ethereum Price Reaches $2,500 Again: Will The Uptrend Hold?
Ethereum price started a fresh upward move above the $2,420 resistance. ETH traded close to $2,500 and is now consolidating gains.
- Ethereum started another increase from the $2,320 resistance.
- The price is trading above $2,400 and the 100-hourly Simple Moving Average.
- There is a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH/USD (data feed via Kraken).
- The pair must clear the $2,480 resistance to continue higher in the near term.
Ethereum Price Surges Over 8%
Ethereum price remained well-supported and extended its increase, beating Bitcoin. ETH was able to clear the $2,350 and $2,420 resistance levels.
There was a sharp move, and the price gained nearly 10%. It traded close to the $2,500 resistance zone. A high was formed at $2,493 and the price is now consolidating gains. There was a minor decline below the $2,460 level. The price tested the 23.6% Fib retracement level of the upward move from the $2,277 swing low to the $2,493 high.
Ethereum price is now trading above $2,440 and the 100-hourly Simple Moving Average. There is also a connecting bullish trend line forming with support at $2,385 on the hourly chart of ETH/USD. The trend line is close to the 50% Fib retracement level of the upward move from the $2,277 swing low to the $2,493 high.
On the upside, the price seems to be facing hurdles near the $2,480 level. The first major resistance is near the $2,500 level. The next key resistance is near $2,550.
An upside break above the $2,550 resistance might call for more gains. In the stated case, Ether could rise toward the $2,650 resistance zone in the near term. The next hurdle sits near the $2,750 level or $2,800.
Are Dips Limited In ETH?
If Ethereum fails to clear the $2,480 resistance, it could start a downside correction. Initial support on the downside is near $2,440. The first major support sits near the $2,385 zone and the trend line zone.
A clear move below the $2,385 support might push the price toward $2,320. Any more losses might send the price toward the $2,250 support level in the near term. The next key support sits at $2,200.
Technical Indicators
Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone.
Hourly RSI – The RSI for ETH/USD is now above the 50 zone.
Major Support Level – $2,385
Major Resistance Level – $2,500
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