Grayscale Investments has announced plans to introduce options trading for its spot bitcoin exchange-traded funds (ETFs), taking a page from Blackrock’s recent success with bitcoin ETF options. The options trading will begin on Wednesday morning. This initiative is designed to leverage a covered call strategy to generate additional income. Both the Bitcoin Trust (GBTC) and […] Original
Park explained on X that the exercisable risk, representing the total value of option contracts exercised or converted to actual shares, equates to less than 0.5% of IBIT’s outstanding shares. Meanwhile, the industry standard is closer to 7%, which would represent a comparative figure of 7%. To show how small the 0.5% figure is, bitcoin CME futures contracts are allowed to trade 2,000 contracts, which is the equivalent of 175,000 for IBIT. Original
Crypto firm Canaan teamed up with a West Texas Bitcoin mining firm to boost its operations in Texas, expanding its North American footprint. Bitcoin (BTC) mining Canaan has entered into a joint mining agreement with Luna Squares Texas, a Texas crypto mining firm, as part of Canaan’s aim to reach 10 EH/s capacity by mid-2025. Under the terms, both companies will share Bitcoin revenue from Canaan’s Avalon mining machines, with the revenue split dependent on the model, Canaan said in a Nov. 20 press release. For Avalon A14 Series machines,…
Microstrategy Chairman Michael Saylor has agreed to deliver a three-minute presentation to Microsoft’s board of directors regarding the potential benefits of investing in bitcoin. During a recent X Spaces event hosted by Vaneck, Saylor revealed that he was approached by the National Center for Public Policy Research (NCPPR), which has been promoting the proposal. Saylor […] Original
CoinGecko data shows XRP and DOGE have cumulatively accounted for as much as 30% of trading volumes on Upbit, the country’s biggest exchange, and nearly 20% on Bithumb in the past 24 hours. That is unusually higher than usual leader bitcoin and indicates a short-term demand for the tokens in the country. Source
MicroStrategy’s executive chairman, Michael Saylor, will give a presentation about investing in Bitcoin to Microsoft’s board in just three minutes. This announcement came after Michael Saylor joined VanEck’s X Spaces on Nov. 19. In a very limited time, he will ask the board of directors to invest their massive allocation into Bitcoin. “The activist that put that proposal together contacted to me to present to the board, and I aggreed to provide a three-minute presentation,” Saylor says on X Spaces. Microsoft is one of the biggest tech companies in the…
The bullish sentiment in the IBIT options is consistent with the noticeable activity in the $200,000 bitcoin call trading on Deribit. Original
Inflows into U.S. spot Bitcoin ETFs surged by 220% on Nov. 19 compared to the previous day, as Bitcoin reached new highs following the launch of the first Bitcoin ETF trading options. According to data from SoSoValue, the 12 spot Bitcoin ETFs recorded net inflows of $816.44 million on Tuesday—over twice the inflows recorded on Monday. Interestingly, the largest inflows of the day were contributed by ARK and 21Shares’ ARKB, which saw $267.34 million enter the fund, marking its highest inflow day since launch and surpassing the $200.7 million inflows…
Bitcoin showed resilience as the escalating tension between Ukraine and Russia signaled a shift in how investors perceive the digital gold. Ukraine attacked Russian territory with U.S. ATACMS missiles, fired at a military facility, after the Biden administration granted permission to do so on Nov. 19 — the 1,000th day of the ongoing conflict between the two countries. Bitcoin (BTC) did not witness a bearish blow, unlike the previous macro tensions. Instead, the flagship cryptocurrency rose to an all-time high of $94,000 with a market cap of $1.86 trillion. BTC…
BlackRock’s Bitcoin ETF options debut on Nasdaq is set to bring a new “wave of institutional investors” to the crypto market, analysts at QCP Capital say. Options on the iShares Bitcoin Trust could attract a new “wave of institutional investors,” seeking to generate yield on their long-term spot ETF holdings, analysts at Singapore-based trading firm QCP Capital say. In a Nov. 19 blog post, the analysts say that the introduction of IBIT options could drive an influx of high-net-worth investors, potentially leading to “further compression of implied volatility.” “This development…