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  • BTC ETFs saw yet another strong day with $488.1m in net inflows.
  • The desk saw more call buying overnight, targeting Jul 100k strike.
  • A lower than expected jobless claims report tonight and the CPI release next week might potentially be the trigger for a new all time high for BTC. There may also be added momentum to the rally as the market prices in rate cuts.
  • Meanwhile ETH continues to lag as SEC Chairman Gary Gensler notes that the ETH ETF S-1 Approvals 'will take some time'.

Trade Idea:

With the S-1 approval delayed, we expect ETH to continue lagging in the short term but eventually outperform BTC once the ETF starts trading.

Accumulate ETH at discount immediately with our revised early accumulator to receive more ETH upfront now.

Early Delivery Accumulator 2.0 (ETH)

On a 500,000 USD Deployment, you will buy 35.7316 ETH at 3500 ETHUSD (9% discount). ETH is credited to your account immediately.

From the 5th week onwards, you will buy at 3500 every Friday as long as the spot price is below 4450.

Maturity: 20SEP24 (16 weeks) Strike: 3,500 (-9.09%) Upper Barrier: 4,450 (+15.58%) Observation Frequency: Weekly starting from 5JUL24 (Spot Ref: 3,850 ETHUSD)

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Disclosure: The authors of this content and members of Nansen may be participating or invested in some of the protocols or tokens mentioned herein. The foregoing statement acts as a disclosure of potential conflicts of interest and is not a recommendation to purchase or invest in any token or participate in any protocol. Nansen does not recommend any particular course of action in relation to any token or protocol. The content herein is meant purely for educational and informational purposes only and should not be relied upon as financial, investment, legal, tax or any other professional or other advice. None of the content and information herein is presented to induce or to attempt to induce any reader or other person to buy, sell or hold any token or participate in any protocol or enter into, or offer to enter into, any agreement for or with a view to buying or selling any token or participating in any protocol. Statements made herein (including statements of opinion, if any) are wholly generic and not tailored to take into account the personal needs and unique circumstances of any reader or any other person. Readers are strongly urged to exercise caution and have regard to their own personal needs and circumstances before making any decision to buy or sell any token or participate in any protocol. Observations and views expressed herein may be changed by Nansen at any time without notice. Nansen accepts no liability whatsoever for any losses or liabilities arising from the use of or reliance on any of this content.