QCP Capital analysis shows that the US Securities and Exchange Commission (SEC) has approved the 19b-4 form of eight spot ETH ETF issuers, including Blackrock and Fidelity. However, trading cannot begin until the S-1 form is approved. The market is expected to experience a big explosion this week, with options trading volume reaching 185. However, the price trend is disappointing, causing the front-end volatility to drop below 60. Although the trading of ETH spot ETF is only a matter of time, it may take some time. As investors take the opportunity to establish more ETH long positions, the trading platform has continued to see sustained demand for long-term ETH call options.