Ether Traders Bet on Near-Term Weakness Despite ETF Hopes

• Ether puts trading at premium after price broke above $4K, signaling concerns about near-term weakness • Put demand likely due to declining probability of SEC approving spot Ether ETF by May • Ether's 1-month call-put skew turned negative, hinting puts are relatively more expensive • 30- and 60-day skews below 0 indicate bias toward puts to protect against potential price drops • Some still hopeful BlackRock's Ether ETF may win approval on May 23 with VanEck decision