According to QCP Capital analysts, the implied volatility (IV) of Ethereum options is currently higher than that of Bitcoin, indicating that traders expect increased price volatility in Ethereum, which could be a reaction to the upcoming Ethereum Spot ETF. Analysts at QCP Capital said: "Bullish sentiment is likely to continue as the market waits for new demand for spot Ethereum ETFs, and the options market will certainly reflect this, with Ether volume [IV] still 15 per cent higher than one Bitcoin volume."