Ethereum rallies on Morgan Stanley ETF filing and short squeeze

Ethereum Morgan Stanley spot ETF filing short liquidations BitMine staking earnings

Ethereum (ETH) climbed more than 2% to around $1,925 after Morgan Stanley updated its S‑1 filing for a spot Ether exchange‑traded fund, naming Coinbase as custodian and setting a 0.14% fee. The filing, together with BitMine Immersion Technologies’ earnings report showing $45.7 million (98% of revenue) from Ethereum staking, reinforced institutional optimism and pushed the cryptocurrency ahead of Bitcoin.

The price surge also triggered a massive short‑covering rally, with over $110 million in short positions liquidated in a single day, contributing to the upward momentum. Technical analysis highlighted resistance near $1,909 and a bullish EMA structure, while softer U.S. inflation data lifted risk assets broadly.

The combined effect of regulatory‑level ETF progress, strong staking revenue, and forced short covering drove Ethereum to an intraday high of $1,937.60, marking a notable weekly gain of about 12%.

Sources

Ethereum zakt na sterke stijging: Newsbit-analist noemt dit niveau cruciaal [newsbit.nl]

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