$ETH

The crypto ETF market lit up green again on Tuesday, June 10, as bitcoin and ether funds kept their upward momentum alive. Investors continued piling into bitcoin ETFs with a $431.12 million net inflow, marking the 2nd straight day of robust fund entries.

Leading the charge was Blackrock’s IBIT, soaking up $336.74 million, followed by Fidelity’s FBTC with $67.07 million and Ark 21shares’ ARKB adding $20.25 million. Even Invesco’s BTCO saw a decent $7.65 million inflow.

Only Bitwise’s BITB experienced a minor outflow of $597k, which barely dented the bullish flow. Total trading volume hit $2.63 billion, and net assets surged to $132.83 billion.

Traders are utilizing bearish ETH options to hedge following Ether's 49% surge in May. An altcoin ETF listing season could impact ETH's market dominance and price action negatively. Despite a 10% surge in Ether's price between Monday and Tuesday, reaching a 15-week high, ETH has struggled to break above $2,800. This resistance level coincides with increased use of downside protection strategies in ETH derivatives markets. Open interest in ETH options rose to $8.3 billion from $6.3 billion, indicating stronger institutional involvement. Notable strategies include the 'short risk reversal' and the bear diagonal spread. While concerns exist about Ether's competitive edge and institutional appeal, the market remains cautiously optimistic. The increased demand for downside protection in ETH options does not necessarily indicate a bearish sentiment, with neutral-to-bullish strategies prevailing. This article provides general information and does not constitute legal or investment advice.