LMAX Digital volumes were healthy on Tuesday. Total notional volume for Tuesday came in at $668 million, 10% above 30-day average volume.

Bitcoin volume printed $301 million, 8% above 30-day average volume. Ether volume came in at $256 million, 63% above 30-day average volume.

Looking at average position size over the past 30 days, we’re seeing average bitcoin position size at $12,818 and average position size for ether at $3,055.

Bitcoin volatility continues to track just off yearly low levels. ETH volatility has picked up and has recently pushed to its highest levels since March.

We’re looking at average daily ranges in bitcoin and ether of $2,645 and $162 respectively.

Bitcoin has traded slightly lower over the past 24 hours, as investor sentiment remains cautious ahead of key U.S. Fed commentary and a pending White House crypto policy report. ETH has also taken a hit on these bigger picture flows, but continues to outperform on ETF‑driven flows.

A Bloomberg headline landed today suggesting that a quiet SEC rule shift is moving crypto ETFs closer to the mainstream. The article explains that the SEC cleared two pivotal changes: the streamlining of how crypto funds can trade, and expanded ways investors can bet on them.

Crucially, the regulator has authorised in‑kind creation and redemption mechanisms for crypto ETPs—moving away from a cash‑only model—and approved a significant position limit increase for options on BlackRock’s iShares Bitcoin Trust, facilitating deepening institutional demand and liquidity in the crypto options market.

This structural shift signals a major step in aligning crypto ETFs with traditional commodity ETF functionality.

Traditional markets are hovering with modest gains ahead of the U.S. Federal Reserve’s policy decision and an awaited White House digital‑assets roadmap. Investors are eyeing any hints toward future rate cuts, which tend to boost risk appetites, including crypto assets.

Meanwhile, geopolitical developments such as the U.S.–EU trade agreement easing tariffs have bolstered risk‑on sentiment across crypto and equities alike.

Over the next 24 to 48 hours, all eyes will be on the Fed and the White House crypto policy report due imminently.

Any dovish tone or indication of strategic Bitcoin reserve purchases could quickly reverse recent softness, especially with the ETF plumbing now optimized.

From a technical perspective, Bitcoin remains confined to a consolidation off record highs, while Ethereum’s ETF‑led flows continue to underscore relative strength in ETH.