Ethereum's price movement today is being driven by a favorable regulatory environment and significant institutional investments. The announcement of a more crypto-friendly stance under President Donald Trump has lifted investor sentiment, contributing to Ethereum's price increase. Additionally, BlackRock's substantial acquisition of Ethereum has further boosted confidence in the asset, indicating strong institutional interest. The Cboe BZX Exchange's proposal to allow options trading on spot Ethereum ETFs is also expected to enhance market liquidity and stability, providing new hedging opportunities for investors.
The Volatility Shares Trust 2x Ether ETF (ETHU) rose 2.59% to $4.75 as of 3:20 PM on Wednesday, February 5.