What is the Ether COT report?

It is the weekly CFTC Commitments of Traders breakdown for Ether cash settled (CME): how many long and short futures contracts each group of large traders held as of the prior Tuesday, published the following Friday.

How do you read Ether net positioning?

Net position is long contracts minus short contracts for one trader group. A positive net means the group leans bullish; the weekly change matters more than the raw level.

What does the Ether COT index mean?

The COT index rescales a group's net position 0-100 against its own high and low over the chosen lookback. Above 80 is close to the most bullish that group has been; below 20 is close to the most bearish.

What is a bearish divergence in Ether?

A bearish divergence is ETH / USD spot making new highs while the tracked trader group reduces its net long position — the rally is losing the sponsorship of the money that usually drives it.

Ether cash settled (CME)

Ether positioning

Price series: ETH / USD spot · positions as of Tuesday Sep 15, 2026, published Friday Sep 18, 2026

Last weekly close · ETH / USD spot

2,447

Asset managers net position (contracts)

-1,920

Convergence — healthy uptrendJul 21, 2026 → Sep 15, 2026 · 8-week window

Price and positioning are rising together: the trend is well supported.

price +25.3% · asset managers net position +500 (contracts, over 8 weekly reports)

Price vs positioning (contracts)

Price on top, and what the big traders were holding underneath it.

Price — ETH / USD spot

Net position (contracts) — Net position = long contracts minus short contracts. Above the zero line = net long.

Signal classification tracks bullish divergencebearish divergenceconvergence (healthy trend)

COT Index

0–100 · vs last 3 years

How 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.

Non-commercial (large specs)69 · neutral

Leaning long, but not yet at an extreme.

Commercial (hedgers)31 · neutral

Leaning short, but not yet at an extreme.

Asset managers18 · stretched short

Near the most bearish this group has been in the window.

Leveraged funds63 · neutral

Leaning long, but not yet at an extreme.

0 · most bearish50 · mid-range100 · most bullish

COT Index = ((Current − Min) / (Max − Min)) × 100, over the last 3 years

Method credit: the 0–100 normalization goes back to Larry Williams' COT work in the 1980s and was developed and popularized by Stephen Briese, author of The Commitments of Traders Bible.

Asset managers — COT index history (0–100, rolling 3 years window)

Disagreement Index

contracts · index 0–100

How far apart two trader groups are right now.

Gap = group A's net position minus group B's, measured in contracts. The Disagreement 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.

Disagreement Index · vs last 3 years

The two groups are pulling apart, above their usual range.

Current gap (contracts)

-5,802 contracts

Left axis: gap in contracts (positive = Leveraged funds is more net long than Asset managers). Right axis: disagreement 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 Sep 15, 2026, published Friday Sep 18, 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)	24,427	21,272	3,155	+485	69
Commercial (hedgers)	30	3,379	-3,349	-198	31
Asset managers	1,419	3,339	-1,920	-267	18
Leveraged funds	3,293	11,015	-7,722	-436	63

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 uptrendJun 30, 2026 → Sep 15, 2026price +37.2% · net position +1,118 contracts
Bearish divergenceJun 9, 2026 → Aug 11, 2026price +8.7% · net position +123 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

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.