Call options are dominating ether open interest as investors position themselves for a potential increase in institutional demand from spot ETH exchange-traded funds , analysts noted.

Ether spot ETFs were approved by the U.S. Securities and Exchange Commission last Thursday — but, unlike bitcoin ETFs, which started trading the day after approval, the ether ETFs may not go live for a few weeks or months.

In light of the recent approvals, QCP Capital analysts expressed a positive structural outlook for ether — noting that the largest increases in ether options open interest over the past 24 hours were primarily in calls.

This observation aligns with data from the Deribit derivatives exchange, which shows the ether put-call ratio for all expirations is now at 0.56. A put-call options …