During the Shapella upgrade, Ethereum options open interest and volume on CME hit record highs, according to The Block.
Currently, Ethereum options volume has risen by 187% to $272 million from $94.7 million in March, and open interest, the total number of open contracts on the market, hit a new record of about $205 million.
Carlos Gonzalez, an analyst at 21Shares, said that the upgrade of Ethereum Shanghai is a de-risking event for the Ethereum network. For the first time, it allows the withdrawal of pledged Ethereum, which reduces the liquidity risk of institutional investors, which promotes the transaction of Ethereum options. Volume and open interest increased.