"Ethereum open interest hits record high...BlackRock adds ₩210 billion in spot purchases"
Summary
- Ethereum (ETH) futures open interest has surpassed $20 billion, setting a new all-time high.
- Glassnode analyzed that leverage demand in the futures market is rising as traders expand their positions using stablecoins.
- It was revealed that BlackRock made additional net purchases of Ethereum spot over the past two weeks, totaling about $163.6 million (about ₩216.7 billion).
Ethereum (ETH) futures open interest has reached an all-time high, while BlackRock continues its spot purchases, signaling expanding institutional demand.
On the 12th (local time), crypto media BeInCrypto reported, citing on-chain analytics firm Glassnode, "Ethereum's futures open interest (OI) has surpassed $20 billion, reaching an all-time high." This figure suggests that leverage demand is rising even as Ethereum consolidates.
Glassnode stated, "Open interest in cash-margined Ethereum futures contracts has reached a record high," adding, "Traders are expanding their positions using stablecoins." CryptoQuant also noted, "The frequency of retail investors' futures trading has exceeded the yearly average," and analyzed, "While on-chain transactions in Bitcoin remain sluggish, leverage and speculative sentiment are strengthening in Ethereum."
Meanwhile, demand in the futures market aligns with the trend of institutional spot purchases. According to blockchain analytics platform Lookonchain, global asset management firm BlackRock has made net purchases of Ethereum for two consecutive weeks. Its accumulated purchases amount to $163.6 million (about ₩216.7 billion).
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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