Ethereum has witnessed a significant surge in recent weeks following the SEC's endorsement of spot ETH ETFs, reaching the milestone of $4,000. Analysts have noted that despite Ethereum hovering around $3,800, the implied volatility in Bitcoin and Ethereum options indicates investor anticipation of a stable and tranquil market scenario throughout June. Deribit CEO, Luuk Strijers, remarked to The Block that investors are gearing towards a period of market stability and calmness, with some opting for put options to hedge against potential downturns and others choosing call options to capitalize on upward movements. However, the early commencement of US trading for spot ETH ETFs in June could spur a surge in ETH price, catching investors off guard.

Expected Continuation of Ethereum's Upward Trajectory

QCP Capital analysts have highlighted that while current data suggests a subdued market atmosphere, an early approval of the ETH ETF could disrupt this status quo. Despite indications of market stagnation, bullish sentiments persist for Ethereum. QCP Capital analysts emphasized the resilience of Bitcoin's upward trajectory amidst negative incidents like Mt. Gox and the DMM attack. The optimism extends to altcoins, with the anticipation of spot ETH ETFs fostering new market demand. Notably, ETH volumes in the options market remain 15% higher than BTC volumes, reflecting the prevailing positive sentiment. The analysts also pointed out that some investors are bolstering their long positions in alternative cryptocurrencies in anticipation of expedited approvals for spot ETH ETFs.