Ethereum's efforts to attract institutional investors face SEC examination as $4.3 billion in options near expiration

Source: [1]

Encounters Key Resistance at $4,640 as $806 Million in Options Set to Expire Today

[2] $4.3 Billion

& Ethereum Options Expire Today - BeInCrypto

[3] $4.3 Billion BTC,

Options Expiry May Spark Market Volatility for ...

[4] Ethereum Under SEC Scrutiny for Over a Year, …

[5] Ethereum Regulatory Status: SEC Concludes Investigation, …

On September 19, 2025, Ethereum (ETH) experienced increased price swings as $806.75 million worth of ETH options neared their $4,500 "max pain" threshold on Deribit. With prices hovering at $4,590, ETH lingered close to important technical markers, notably resistance at $4,640 and support near $4,535. The Put-to-Call Ratio (PCR) stood at 0.99, reflecting cautious optimism among derivatives traders, in contrast to Bitcoin’s more negative options stance Ethereum Faces Critical $4,640 Resistance as $806 Million Options Expire Today [ 1 ].

This wave of options expiry, part of a larger $4.3 billion BTC and ETH expiration, highlighted short-term uncertainty in the market. According to Deribit, Ethereum’s value could stabilize around $4,500 as the contracts lapsed at 8:00 UTC. Still, analysts pointed to substantial buying activity by large investors—about 820,000 ETH, equivalent to $3.8 billion, acquired over three days—as a sign of institutional faith. This uptick in “whale” accumulation since mid-June coincided with Ethereum’s climb from $3,000, indicating a positive outlook among major players $4.3 Billion Bitcoin & Ethereum Options Expire Today - BeInCrypto [ 2 ].

Technical signals suggested a breakout could occur if Ethereum surpassed $4,765, the upper line of an ascending triangle pattern established since July. Should this level be breached, the next target could be $5,800. Conversely, a dip under $4,535 might undermine the bullish scenario, possibly sending prices down to $4,350. Additionally, the Federal Reserve’s 25 basis-point rate cut earlier that week provided momentum for riskier assets, though markets initially fell amid expectations for a slower pace of rate decreases $4.3 Billion BTC, ETH Options Expiry Triggers Potential Volatility for ... [ 3 ].

Regulatory attention intensified during this period of volatility. The U.S. Securities and Exchange Commission (SEC) wrapped up its more than year-long probe into whether Ethereum should be classified as a security, opting not to press charges but leaving the asset’s regulatory status unresolved. The SEC’s focus on Ethereum’s shift to proof-of-stake and potential securities law breaches raised questions about future compliance demands. In April 2024, ConsenSys, a leading Ethereum organization, filed a lawsuit against the SEC, asserting that Ethereum should be considered a commodity under the CFTC’s jurisdiction Ethereum Under SEC Scrutiny for Over a Year, … [ 4 ].

Investors also monitored institutional inflows to Ethereum ETFs, which reached $7.09 billion by July 2025, even as Grayscale’s Ethereum Trust posted outflows. While SEC filings showed varied levels of institutional involvement, lingering regulatory ambiguity curbed the expansion of Ethereum ETFs. The interplay among options expiry, technical trends, and regulatory moves underscored Ethereum’s delicate position between attracting institutional capital and facing market instability Ethereum Regulatory Status: SEC Concludes Investigation, … [ 5 ].

This week’s options expiration took place as a record $18 billion in Bitcoin options were set to expire on September 26. Analysts cautioned that Ethereum’s near-term momentum would depend on whether it could maintain support above $4,500 and continue to attract large-scale accumulation. Meanwhile, persistent SEC intervention and the overall crypto market’s sensitivity to global economic trends highlighted the ongoing volatility as the sector navigates rapid changes.