{ "schemaVersion": 3, "reportDate": "2026-08-31", "generatedAt": "2026-08-31T21:03:05+00:00", "currentSnapshotAt": "2026-08-31T20:58:00+00:00", "previousSnapshotAt": "2026-08-30T20:58:00+00:00", "windowHours": 24.0, "currency": "ETH", "methodology": { "source": "Derivasys proprietary historical SVI surface and canonical ETH index databases", "comparison": "Nearest successful surface snapshots approximately 24 hours apart", "rrConvention": "25-delta call IV minus 25-delta put IV", "bfConvention": "Average 25-delta wing IV minus ATM forward IV", "greeks": "Black forward Greeks for a normalized one-ETH ATM-forward call, zero rate, fitted SVI IV", "commentary": "Metrics and takeaways are deterministic. Daily headlines and introductions may be model-assisted, constrained to the same stored facts; weekly prose is deterministic.", "fixedTenors": "Fixed-tenor measures are interpolated independently at 1W, 2W, 1M, 3M, 6M, 9M and 1Y; headline rankings prioritise 1W, 2W, 1M, 3M, 6M and 1Y.", "smileReconstruction": "Listed-expiry smiles are reconstructed from stored SVI total-variance parameters on a fixed log-moneyness grid.", "ultraShortExpiry": "Expiries with fewer than 2 full days remaining stay in detailed tables but are excluded from headline rankings. Settlement proximity, time decay, changing liquidity and fewer quotes can exaggerate their changes.", "causalClaims": "The report describes observed surface and realised-volatility changes only and does not infer unsupported market drivers, flows or forecasts.", "realisedVolatility": "Annualised root-mean-square of one-minute canonical ETH-USD index log returns using a 365-day basis; all windows end at the current snapshot." }, "realisedVolatility": { "source": "canonical/ETH-USD-INDEX (DERIBIT and OKX indexes)", "fallbackObservations": 13, "fallbackPolicy": "Missing canonical minutes use the stored Deribit index first, then the stored OKX index; canonical bars always take precedence.", "samplingInterval": "1 minute", "annualizationBasis": "365 days", "windowEnd": "2026-08-31T20:58:00+00:00", "spotMove24hPercent": -0.75, "rv24hPercent": 56.0, "rv7dPercent": 45.71, "rv30dPercent": 49.72, "observations": { "24h": 1440, "7d": 10080, "30d": 43200 }, "oneWeekAtmIvPercent": 46.87, "oneWeekIvMinus7dRvPoints": 1.16, "oneWeekIvMinus24hRvPoints": -9.13, "oneWeekIvMinus30dRvPoints": -2.85 }, "fitQuality": { "currentObjective": 0.08371741, "previousObjective": 0.04037688, "currentLiveError": 34.61702377, "previousLiveError": 10.82423746 }, "coverage": { "currentListedExpiries": 12, "previousListedExpiries": 13, "comparedListedExpiries": 12, "addedExpiries": [], "removedExpiries": [ "31AUG26" ], "fixedTenors": [ "1W", "2W", "1M", "3M", "6M", "9M", "1Y" ] }, "commentary": { "source": "codex", "model": "gpt-5.6-terra", "headline": "ETH front-end IV gains as longer maturities soften", "executiveSummary": "ETH\u2019s main surface development was a 0.74-point increase in 2W ATM IV to 47.90%, while the long end averaged 0.22 points lower.", "evidenceIds": [ "largest-standard-tenor", "front-atm", "back-atm", "rr25", "realised-vol" ], "newsSummary": "The retained ETH news item was BitMine\u2019s update on its staked ETH balance and treasury growth.", "marketContextSummary": "The treasury update was followed by only small timed ETH IV changes and a low-confidence observational reaction assessment; it does not directly explain the final front-end firming and long-end easing.", "marketContext": [ { "title": "BitMine update and ETH surface", "explanation": "ETH ATM IV rose 0.01 points over one hour and 0.07 points over four hours after the report, while 3M RR25 increased 0.19 points over four hours. Those associations are insufficient to explain the closing surface move.", "relationship": "no-clear-link", "confidence": "low", "surfaceEvidenceIds": [ "front-atm", "rr25" ], "newsEvidenceIds": [ "a9d63129-ad4f-4c9f-8466-ae11f204c086" ] } ], "newsEvidenceIds": [ "a9d63129-ad4f-4c9f-8466-ae11f204c086" ], "takeaways": [ { "id": "realised-vol", "label": "Implied versus realised", "text": "At the 20:58 UTC cutoff, 1W ATM IV was 46.87%, 1.16 volatility points above seven-day realised volatility of 45.71%; 24-hour realised volatility was 56.00% and 30-day realised volatility was 49.72%." }, { "id": "front-atm", "label": "Front end", "text": "Front-end ATM IV increased, averaging +0.57 volatility points to 48.10% across 1W, 2W and 1M." }, { "id": "back-atm", "label": "Long end", "text": "Long-dated ATM IV decreased, averaging -0.22 volatility points to 55.03% across 6M and 1Y." }, { "id": "rr25", "label": "Skew", "text": "RR25 moved towards calls, averaging +0.22 volatility points to 0.82% across the six headline tenors." }, { "id": "bf25", "label": "Convexity", "text": "BF25 decreased, averaging -0.19 volatility points to 2.55% across the six headline tenors." }, { "id": "largest-standard-tenor", "label": "Largest standard-tenor move", "text": "The largest standard-tenor ATM IV move was +0.74 volatility points at 2W, to 47.90%.", "tenor": "2W", "value": 0.74 } ] }, "newsEvidence": { "schemaVersion": 1, "source": "local-news-mcp", "generatedAt": "2026-08-31T20:58:00+00:00", "window": { "startAt": "2026-08-30T20:58:00+00:00", "endAt": "2026-08-31T20:58:00+00:00", "endExclusive": true }, "collectorWindow": { "startAt": "2026-08-30T20:58:00+00:00", "endAt": "2026-08-31T20:58:00+00:00", "endExclusive": true }, "coverage": { "configuredSources": 1, "successfulSources": 1, "failedSources": 0 }, "selection": { "feedsQueried": 1, "publishersQueried": 3, "feedEntriesScanned": 41, "articlesPassingTimeFilter": 4, "articlesPassingSourceRelevanceRules": 4, "articlesPassingSelectionThreshold": 1, "storiesSelected": 1, "selectedPublishers": 1, "maximumStories": 3, "maximumStoriesPerPublisher": 2, "minimumSelectionScore": 0, "eventsSelected": 1 }, "items": [ { "id": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "sourceId": "the_defiant", "publisher": "The Defiant", "title": "BitMine\u2019s Staked ETH Holds at 5.07 Million as Treasury Grows", "url": "https://thedefiant.io/news/tradfi-and-fintech/bitmine-s-staked-eth-holds-at-5-07-million-as-treasury-grows", "publishedAt": "2026-08-31T16:24:16+00:00", "summary": "BitMine's staked ETH balance was reported unchanged over four weekly readings, while the company added 53,501 ETH and reported annualised staking revenue.", "matchedTerms": [ "BitMine", "ETH", "Ethereum" ], "topics": [ "institutional", "institutional_adoption" ], "sourceKind": "media", "rightsStatus": "link-and-summary", "selectionScore": 0, "relevanceReasons": [ "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation." ], "selectionReason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "canonicalEventId": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "reactionHorizon": "4h", "marketReaction": { "event_id": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "asset": "ETH", "calculated_at": "2026-08-31T20:43:14.466025Z", "complete_through": "2026-08-31T20:24:16Z", "spot_return_5m": -0.006087, "spot_return_1h": 0.108349, "spot_return_4h": 0.678908, "spot_return_24h": null, "atm_iv_change_5m": 0.01, "atm_iv_change_1h": 0.01, "atm_iv_change_4h": 0.07, "atm_iv_change_24h": null, "rr25_change_5m": 0.01, "rr25_change_1h": 0.03, "rr25_change_4h": 0.19, "rr25_change_24h": null, "bf25_change_5m": -0.01, "bf25_change_1h": -0.01, "bf25_change_4h": -0.01, "bf25_change_24h": null, "realised_vol_pre": 57.025795809721835, "realised_vol_post_5m": 57.066955825482424, "realised_vol_post_1h": 55.907948595618706, "realised_vol_post_4h": 56.3261343091438, "realised_vol_post_24h": null }, "status": "selected", "relevance": "broader crypto", "relationship": "neutral", "causal_confidence": "low", "matched_signals": [ "Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD", "ATM IV 2W: up 0.74 points to 47.90%" ], "selection_reason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "event_cluster_id": "market-event-5eea87d9cdb7" } ], "events": [ { "event_cluster_id": "market-event-5eea87d9cdb7", "status": "selected", "relevance": "broader crypto", "relationship": "neutral", "causal_confidence": "low", "matched_signals": [ "Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD", "ATM IV 2W: up 0.74 points to 47.90%" ], "selection_reason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "primary_article": { "id": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "sourceId": "the_defiant", "publisher": "The Defiant", "title": "BitMine\u2019s Staked ETH Holds at 5.07 Million as Treasury Grows", "url": "https://thedefiant.io/news/tradfi-and-fintech/bitmine-s-staked-eth-holds-at-5-07-million-as-treasury-grows", "publishedAt": "2026-08-31T16:24:16+00:00", "summary": "BitMine's staked ETH balance was reported unchanged over four weekly readings, while the company added 53,501 ETH and reported annualised staking revenue.", "matchedTerms": [ "BitMine", "ETH", "Ethereum" ], "topics": [ "institutional", "institutional_adoption" ], "sourceKind": "media", "rightsStatus": "link-and-summary", "selectionScore": 0, "relevanceReasons": [ "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation." ], "selectionReason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "canonicalEventId": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "reactionHorizon": "4h", "marketReaction": { "event_id": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "asset": "ETH", "calculated_at": "2026-08-31T20:43:14.466025Z", "complete_through": "2026-08-31T20:24:16Z", "spot_return_5m": -0.006087, "spot_return_1h": 0.108349, "spot_return_4h": 0.678908, "spot_return_24h": null, "atm_iv_change_5m": 0.01, "atm_iv_change_1h": 0.01, "atm_iv_change_4h": 0.07, "atm_iv_change_24h": null, "rr25_change_5m": 0.01, "rr25_change_1h": 0.03, "rr25_change_4h": 0.19, "rr25_change_24h": null, "bf25_change_5m": -0.01, "bf25_change_1h": -0.01, "bf25_change_4h": -0.01, "bf25_change_24h": null, "realised_vol_pre": 57.025795809721835, "realised_vol_post_5m": 57.066955825482424, "realised_vol_post_1h": 55.907948595618706, "realised_vol_post_4h": 56.3261343091438, "realised_vol_post_24h": null }, "status": "selected", "relevance": "broader crypto", "relationship": "neutral", "causal_confidence": "low", "matched_signals": [ "Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD", "ATM IV 2W: up 0.74 points to 47.90%" ], "selection_reason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "event_cluster_id": "market-event-5eea87d9cdb7" }, "additional_coverage": [] } ] }, "newsContext": { "outcome": "Relevant context found; no confirmed catalyst", "highest_causal_confidence": "low", "section_heading": "Relevant market event", "events": [ { "event_cluster_id": "market-event-5eea87d9cdb7", "status": "selected", "relevance": "broader crypto", "relationship": "neutral", "causal_confidence": "low", "matched_signals": [ "Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD", "ATM IV 2W: up 0.74 points to 47.90%" ], "selection_reason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "primary_article": { "id": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "sourceId": "the_defiant", "publisher": "The Defiant", "title": "BitMine\u2019s Staked ETH Holds at 5.07 Million as Treasury Grows", "url": "https://thedefiant.io/news/tradfi-and-fintech/bitmine-s-staked-eth-holds-at-5-07-million-as-treasury-grows", "publishedAt": "2026-08-31T16:24:16+00:00", "summary": "BitMine's staked ETH balance was reported unchanged over four weekly readings, while the company added 53,501 ETH and reported annualised staking revenue.", "matchedTerms": [ "BitMine", "ETH", "Ethereum" ], "topics": [ "institutional", "institutional_adoption" ], "sourceKind": "media", "rightsStatus": "link-and-summary", "selectionScore": 0, "relevanceReasons": [ "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation." ], "selectionReason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "canonicalEventId": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "reactionHorizon": "4h", "marketReaction": { "event_id": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "asset": "ETH", "calculated_at": "2026-08-31T20:43:14.466025Z", "complete_through": "2026-08-31T20:24:16Z", "spot_return_5m": -0.006087, "spot_return_1h": 0.108349, "spot_return_4h": 0.678908, "spot_return_24h": null, "atm_iv_change_5m": 0.01, "atm_iv_change_1h": 0.01, "atm_iv_change_4h": 0.07, "atm_iv_change_24h": null, "rr25_change_5m": 0.01, "rr25_change_1h": 0.03, "rr25_change_4h": 0.19, "rr25_change_24h": null, "bf25_change_5m": -0.01, "bf25_change_1h": -0.01, "bf25_change_4h": -0.01, "bf25_change_24h": null, "realised_vol_pre": 57.025795809721835, "realised_vol_post_5m": 57.066955825482424, "realised_vol_post_1h": 55.907948595618706, "realised_vol_post_4h": 56.3261343091438, "realised_vol_post_24h": null }, "status": "selected", "relevance": "broader crypto", "relationship": "neutral", "causal_confidence": "low", "matched_signals": [ "Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD", "ATM IV 2W: up 0.74 points to 47.90%" ], "selection_reason": "Retained as contemporaneous price context alongside Forward 3SEP26: -20.95 USD (-0.84%) to 2472.81 USD; the surface data does not establish a causal relationship. MCP-measured 4h post-publication reaction: BTC spot +0.68%, ATM IV +0.07 points and RR25 +0.19 points; this is a timed association, not proof of causation.", "event_cluster_id": "market-event-5eea87d9cdb7" }, "additional_coverage": [] } ] }, "marketRead": { "text": "2W ATM IV rose 0.74 volatility points to 47.90%, a routine move at the 46th percentile. At the cutoff, realised volatility measured 56.00% over 24 hours, 45.71% over seven days and 49.72% over 30 days. Front-end ATM IV averaged 48.10%, +0.57 points from the prior snapshot, while the long end averaged 55.03%, -0.22 points. The 1Y-minus-1W ATM slope flattened 0.53 points to 9.16 points. 3M RR25 moved 0.68 volatility points toward calls to 0.94%, leaving calls richer than puts. 1W BF25 fell 0.26 volatility points to 2.36%. The nearest eligible forward, 3SEP26, fell $20.95 (-0.84%) to $2,472.81. Relevant context found; no confirmed catalyst; the strongest assessed relationship has low causal confidence.", "wordCount": 111, "source": "deterministic structured report facts", "evidenceFields": [ "summaryMetrics.largestAtmMove", "realisedVolatility.rv24hPercent", "realisedVolatility.rv7dPercent", "realisedVolatility.rv30dPercent", "summaryMetrics.frontEndAverageAtm", "summaryMetrics.longEndAverageAtm", "summaryMetrics.oneYearMinusOneWeekAtmSlope", "summaryMetrics.largestRr25Move", "summaryMetrics.largestBf25Move", "summaryMetrics.nearestEligibleForwardMove", "newsContext.outcome", "newsContext.highest_causal_confidence" ] }, "facts": [ { "id": "realised-vol", "label": "Implied versus realised", "text": "At the 20:58 UTC cutoff, 1W ATM IV was 46.87%, 1.16 volatility points above seven-day realised volatility of 45.71%; 24-hour realised volatility was 56.00% and 30-day realised volatility was 49.72%." }, { "id": "front-atm", "label": "Front end", "text": "Front-end ATM IV increased, averaging +0.57 volatility points to 48.10% across 1W, 2W and 1M." }, { "id": "back-atm", "label": "Long end", "text": "Long-dated ATM IV decreased, averaging -0.22 volatility points to 55.03% across 6M and 1Y." }, { "id": "rr25", "label": "Skew", "text": "RR25 moved towards calls, averaging +0.22 volatility points to 0.82% across the six headline tenors." }, { "id": "bf25", "label": "Convexity", "text": "BF25 decreased, averaging -0.19 volatility points to 2.55% across the six headline tenors." }, { "id": "largest-standard-tenor", "label": "Largest standard-tenor move", "text": "The largest standard-tenor ATM IV move was +0.74 volatility points at 2W, to 47.90%.", "tenor": "2W", "value": 0.74 } ], "summaryMetrics": { "basis": "Fixed-tenor endpoint comparison", "unit": "volatility points", "atmIvChange": 0.12, "rr25Change": 0.22, "bf25Change": -0.19, "largestAtmMove": { "tenor": "2W", "current": 47.9, "previous": 47.16, "change": 0.74, "historicalSignificance": { "absoluteMove": 0.74, "movePercentile30d": 22.2, "movePercentileFullHistory": 46.2, "currentLevelPercentileFullHistory": 25.0, "classificationPercentile": 46.2, "label": "routine", "observations30d": 9, "observationsFullHistory": 13, "levelObservationsFullHistory": 16 } }, "frontEndAverageAtm": { "current": 48.1, "previous": 47.53, "change": 0.57 }, "longEndAverageAtm": { "current": 55.03, "previous": 55.25, "change": -0.22 }, "oneYearMinusOneWeekAtmSlope": { "current": 9.16, "previous": 9.69, "change": -0.53 }, "largestRr25Move": { "tenor": "3M", "current": 0.94, "previous": 0.26, "change": 0.68, "historicalSignificance": { "absoluteMove": 0.68, "movePercentile30d": 55.6, "movePercentileFullHistory": 53.8, "currentLevelPercentileFullHistory": 68.8, "classificationPercentile": 55.6, "label": "routine", "observations30d": 9, "observationsFullHistory": 13, "levelObservationsFullHistory": 16 }, "direction": "toward calls", "currentSign": "call-rich" }, "largestBf25Move": { "tenor": "1W", "current": 2.36, "previous": 2.62, "change": -0.26, "historicalSignificance": { "absoluteMove": 0.26, "movePercentile30d": 33.3, "movePercentileFullHistory": 30.8, "currentLevelPercentileFullHistory": 25.0, "classificationPercentile": 33.3, "label": "routine", "observations30d": 9, "observationsFullHistory": 13, "levelObservationsFullHistory": 16 } }, "nearestEligibleForwardMove": { "label": "3SEP26", "daysToExpiry": 2.46, "current": 2472.81, "previous": 2493.76, "change": -20.95, "percentChange": -0.84 } }, "tenors": [ { "tenor": "1W", "targetExpiry": 1788814680206, "availability": "available", "unavailableReason": null, "atmIv": { "current": 46.87, "previous": 46.33, "change": 0.54, "percentChange": 1.17 }, "rr25": { "current": 1.28, "previous": 1.06, "change": 0.22, "percentChange": 20.75 }, "bf25": { "current": 2.36, "previous": 2.62, "change": -0.26, "percentChange": -9.92 }, "historicalSignificance": { "atmIv": { "absoluteMove": 0.54, "movePercentile30d": 0.0, "movePercentileFullHistory": 7.7, "currentLevelPercentileFullHistory": 50.0, "classificationPercentile": 7.7, "label": "routine", "observations30d": 9, "observationsFullHistory": 13, "levelObservationsFullHistory": 16 }, "rr25": { "absoluteMove": 0.22, "movePercentile30d": 0.0, "movePercentileFullHistory": 7.7, "currentLevelPercentileFullHistory": 62.5, "classificationPercentile": 7.7, "label": "routine", "observations30d": 9, "observationsFullHistory": 13, "levelObservationsFullHistory": 16 }, "bf25": { "absoluteMove": 0.26, "movePercentile30d": 33.3, "movePercentileFullHistory": 30.8, "currentLevelPercentileFullHistory": 25.0, "classificationPercentile": 33.3, "label": "routine", "observations30d": 9, "observationsFullHistory": 13, "levelObservationsFullHistory": 16 } } }, { "tenor": "2W", "targetExpiry": 1789419480206, "availability": "available", "unavailableReason": null, "atmIv": { "current": 47.9, "previous": 47.16, "change": 0.74, "percentChange": 1.57 }, "rr25": { "current": 1.16, "previous": 1.28, "change": 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The largest standard-tenor movement was a routine 2W increase, and 3M RR25 moved toward relative call-side volatility. A BitMine treasury update was published within the window, but its timed reaction does not demonstrate that it caused the observed end-of-window surface configuration.", "days": [ { "reportDate": "2026-08-31", "headline": "ETH front end rises modestly", "summary": "Two-week ATM IV rose as longer-dated volatility eased and call-side skew strengthened.", "macro": { "summary": "No qualifying macro event was retained for ETH.", "events": [] }, "crypto": { "summary": "BitMine reported an unchanged staked balance and treasury growth.", "events": [ { "eventId": "a9d63129-ad4f-4c9f-8466-ae11f204c086", "title": "BitMine\u2019s Staked ETH Holds at 5.07 Million as Treasury Grows", "publisher": "The Defiant", "url": "https://thedefiant.io/news/tradfi-and-fintech/bitmine-s-staked-eth-holds-at-5-07-million-as-treasury-grows", "publishedAt": "2026-08-31T16:24:16+00:00" } ] } } ] }, "crossAssetMarketContext": { "schemaVersion": 1, "source": "market-context-mcp", "status": "available", "asset": "ETH", "sessionDate": "2026-08-28", "asOfTimestamp": "2026-08-28T20:00:00+00:00", "summary": "Latest completed common context available before the report cutoff. Crypto and SPX realised volatility use different annualisation clocks: sqrt(365) and sqrt(252), respectively.", "metrics": { "cryptoAtmIv30d": 48.81, "vix": 14.430000305175781, "vix9d": 11.22, "vix3m": 17.48, "ivSpread": 34.37999969482422, "ivRatio": 3.3825363110001274, "cryptoRealisedVol20d": 60.969866135641645, "spxRealisedVol20": 10.580898229376473, "rvSpread": 50.38896790626517, "rvRatio": 5.76225806296547, "rvSpreadPercentile": 46.81818181818182, "rvSpreadPercentileSampleCount": 220, "rvRatioPercentile": 62.27272727272727, "rvRatioPercentileSampleCount": 220, "returnCorrelation30": -0.006708887348323387, "returnCorrelation30SampleCount": 30, "returnCorrelation60": 0.4415705667112447, "returnCorrelation60SampleCount": 60 }, "methodology": "Persisted common US session. ETH realised volatility is annualised on sqrt(365); SPX realised volatility is annualised on sqrt(252). Null IV percentiles are preserved because no eligible prior observations were available." } }