Ethereum is down more than 5% on Thursday following the Securities & Exchange Commission's (SEC) failure to approve ETH ETF issuers' S-1 drafts.
SEC delays decision on Ethereum ETF S-1 drafts as analysts shifted their potential launch date again. Ethereum whale risks liquidation if ETH declines to $2,984. Ethereum breaches key support amid key insight from CME open interest. Ethereum is down more than 5% on Thursday following the Securities & Exchange Commission's failure to approve ETH ETF issuers' S-1 drafts.
Open interest is the number of outstanding contracts in a derivatives market that are yet to be settled. While the move signified wider risk aversion from traders, Ethereum's CME OI was an outlier, rising almost 1% in the last 24 hours. This indicates that US investors may be slightly bullish despite declining prices due to expectations of spot ETH ETFs' launch.
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