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  • As we approach the quarter-end options expiry this Friday, the options market has been notably quiet, with the typical quarter end vol sell off taking effect.
  • Some chatter appeared today suggesting the imminent trading of ETH ETFs:
    1. VanEck has filed their 8-A form, worth highlighting the same form for Bitcoin ETF was filed exactly 7 days before the launch.
    2. VanEck subsequently announced zero fees for the initial phase of their ETH ETF.
  • The ETH options market for July expiries in particular, has not shown much excitement thus far. If there is a substantial breakthrough in the approval process, it could catch the market by surprise.

Trade Idea ETH has shown robust support levels at 3,200 and 2,800, with the latter not touched for over four months. This forms a strong basis for creatively expressing one's bullish view by deploying into a Conditional Fixed Coupon Convertibles (CFCC), yielding up to 66% p.a.

ETH Conditional Fixed Coupon Convertible Coupon Payment: 66% p.a. every Friday as long as spot price is above 3,200 Expiry: 13-Dec, 6 months Strike: 3,200 (-5.8%) Protection: 2,800 (-17.6%) At expiry, only if spot is below 2,800, the USD deployed is used to buy ETH at strike of 3,200

(Spot Ref: 3,400)

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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.