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Coinbase Research Director: Claims of 'Largest ETH Short Position in History' Severely Exaggerated
Summary: Coinbase research director David Duong stated that recent claims of the 'largest ETH short position in history' are severely exaggerated. He pointed out that in June, net inflows of Ethereum spot ETF reached $1.16 billion, while leveraged fund short positions on Chicago Mercantile Exchange (CME) Ethereum futures increased from $466 million in early May to ...
Coinbase research director David Duong stated that recent claims of the 'largest ETH short position in history' are severely exaggerated. He pointed out that in June, net inflows of Ethereum spot ETF reached $1.16 billion, while leveraged fund short positions on Chicago Mercantile Exchange (CME) Ethereum futures increased from $466 million in early May to $1.6 billion on June 24, a growth rate consistent with ETF fund inflows. Duong explained that this phenomenon is mainly driven by arbitrage trading, as the spread yield offered by CME Ethereum futures compared to spot has increased from an average of 6% in February to 8%-9% in May and June, attracting more institutions to participate in arbitrage by buying spot and selling futures, not necessarily indicating a bearish outlook on ETH.
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Link: Coinbase Research Director: Claims of 'Largest ETH Short Position in History' Severely Exaggerated [Copy]
