Ether cash settled (CME)
Ether positioning
Price series: ETH / USD spot · positions as of Tuesday Jul 28, 2026, published Friday Jul 31, 2026
Neither price nor positioning has moved enough this window to say anything.
Price vs positioning (contracts)
Price on top, and what the big traders were holding underneath it.
COT Index
0–100 · vs last 3 yearsHow extreme today's positioning is compared with this group's own history.
Each group's current net position, rescaled 0–100 against its own high and low over the selected lookback. 0 = most bearish it has been in that window, 100 = most bullish. Unitless by design, so markets of very different sizes can be compared.
Near the most bullish this group has been in the window.
Near the most bearish this group has been in the window.
Near the most bearish this group has been in the window.
Leaning long, but not yet at an extreme.
COT Index = ((Current − Min) / (Max − Min)) × 100, over the last 3 years
Gap & Gap Index
contracts · index 0–100How far apart two trader groups are right now.
Gap = group A's net position minus group B's, measured in contracts. The Gap Index rescales that difference 0–100 against its own last 3 years: 0 = the two groups as close together as they get, 100 = as far apart as they get.
Historically extreme disagreement between the two groups.
Left axis: gap in contracts (positive = Leveraged funds is more net long than Asset managers). Right axis: gap index, 0–100. Gap tracks Leveraged funds − Asset managers.
Latest week by category
What each trader group was holding in the most recent report.
Positions as of Tuesday Jul 28, 2026, published Friday Jul 31, 2026, compared with the prior weekly report. Positive net = net long; negative net = net short. COT index is measured over the last 3 years.
| Category | Long (contracts) | Short (contracts) | Net (contracts) | Weekly change (contracts) | COT index (0–100, 3y) |
|---|---|---|---|---|---|
| Non-commercial (large specs) | 19,237 | 14,150 | 5,087 | +1,172 | 100 |
| Commercial (hedgers) | 0 | 5,195 | -5,195 | -845 | 0 |
| Asset managers | 1,036 | 4,508 | -3,472 | -1,052 | 0 |
| Leveraged funds | 1,828 | 7,224 | -5,396 | +1,657 | 74 |
Signal log — Asset managers
Every past signal in this market, and what price did afterwards.
Every rolling 8-week window classified as a bullish or bearish divergence, or as convergence where price and positioning agree. Price change is in percent; net change is in contracts.
Each row covers one stretch of weekly reports: the % is the price change over that stretch, the net figure is the change in the group's net position, in contracts.
- Convergence — healthy downtrendMar 31, 2026 → Jul 21, 2026price -7.4% · net position -2,328 contracts
- Bearish divergenceMar 17, 2026 → May 19, 2026price +2.2% · net position -2,202 contracts
- Convergence — healthy uptrendFeb 24, 2026 → May 5, 2026price +22.2% · net position +2,529 contracts
- Bearish divergenceFeb 10, 2026 → Apr 14, 2026price +15.2% · net position -154 contracts
- Convergence — healthy downtrendAug 26, 2025 → Mar 24, 2026price -54.8% · net position -5,652 contracts
- Convergence — healthy uptrendApr 1, 2025 → Sep 23, 2025price +162.7% · net position +2,905 contracts
- Bearish divergenceMar 11, 2025 → May 6, 2025price +33.0% · net position -1,582 contracts
- Convergence — healthy downtrendDec 17, 2024 → Apr 29, 2025price -44.8% · net position -3,717 contracts
- Bullish divergenceNov 19, 2024 → Jan 28, 2025price -14.7% · net position +807 contracts
- Convergence — healthy uptrendSep 17, 2024 → Jan 7, 2025price +26.4% · net position +1,801 contracts
- Bearish divergenceAug 27, 2024 → Nov 5, 2024price +31.4% · net position -1,871 contracts
- Convergence — healthy downtrendJul 23, 2024 → Oct 8, 2024price -24.6% · net position -1,476 contracts
Source: CFTC Commitments of Traders — positions as of Tuesday, published the following Friday. All position figures are futures contracts unless the % of open interest view is selected. Positioning is a sentiment tool, not a timing signal. Not investment advice.