The cryptocurrency market experienced a positive shift on the eve of Monday's opening of the US market, attributed to the regulatory decision postponement regarding options contracts related to spot Ethereum (ETH) exchange-traded funds until December. Bitcoin (BTC) witnessed a notable increase of approximately 3.3%, trading at around $64,808 ahead of market hours.
Simultaneously, Ethereum (ETH) saw a rise of 3%, with trading values reaching $2,534. Solana (SOL) also climbed by about 4%, trading at $153.07. The overall crypto market capitalization rose by 2.6%, positioning it at $2.25 trillion. The CoinDesk Market Index mirrored this upward trend, displaying an increase of about 2.9% over the preceding 24 hours.
Cboe Global Markets (CBOE) is currently pursuing approval from the US Securities and Exchange Commission for the listing of options on multiple ethereum ETFs. These ETFs include the iShares Ethereum Trust (ETHA), Fidelity Ethereum Fund (FETH), and Grayscale Ethereum Trust (ETHE). The regulatory body has postponed the ruling deadline on the August application from October 19 to December 3, as outlined in a Friday filing.
Recent data compiled by Farside Investors reveals that US-traded ethereum ETFs experienced outflows totaling $1.9 million within the last week, contrasting with a significant inflow of $348.5 million into top bitcoin ETFs, attracting keen interest from investors. As the pre-market activity unfolded on Monday, stocks related to bitcoin mining showcased notable performance, with Marathon Digital Holdings Inc.
(MARA) leading the pack with an approximate 5.3% increase, followed closely by Hut 8 Mining Corp. (HUT), which rose more than 5%. Key figures from the Federal Reserve are set to grab the attention of investors as Minneapolis Fed President Neel Kashkari and Governor Christopher Waller are scheduled to speak on Monday.
In addition, other prominent figures, including San Francisco Fed President Mary Daly, Fed Governor Adriana Kugler, and Atlanta Fed President Raphael Bostic, will take to the stage on Tuesday. Investor sentiment will likely hinge on the release of retail sales data for September and the housing market index for October, both set for Thursday.
Meanwhile, Friday will bring crucial insights with the release of housing starts and permits data for September..