A crypto investment firm backed by financial giant Citadel is reportedly eyeing a $1 billion valuation after launching its latest round of fundraising. According to a new Bloomberg report, anonymous people familiar with the matter say that Hidden Road Partners, a startup prime brokerage focused on digital assets, is raising funds in a Series B […]
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Newly created Bitcoin whales reportedly hold a record amount of BTC to the point of controlling 9% of the total supply of coins. Ki Young Ju, CEO of blockchain analytics firm CryptoQuant, shares data showing that short-term holder Bitcoin whales have become one of the primary cohorts of entities. Short-term holders are defined as those […]
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A venture capital firm co-founded by an executive of Coinbase is reportedly looking to raise between $750 million and $850 million for a new fund. According to a new report by Bloomberg, anonymous sources familiar with the matter say that crypto venture capital firm Paradigm – founded by Coinbase Global co-founder Fred Ehrsam and ex-Sequoia […]
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A prominent Bloomberg analyst says that Bitcoin (BTC) exchange-traded funds (ETFs) – which only launched in January – are seeing more individual trades than the top two ETFs in the equities markets. In a new thread, Bloomberg senior ETF analyst Eric Balchunas tells his 243,600 followers on the social media platform X that BTC ETFs […]
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Coinbase’s (COIN) stock is rising after multiple reports of being upgraded to “outperform” by a prominent investment brokerage and bank. According to a new report by Yahoo Finance, financial services giant Oppenheimer expects the top US-based crypto exchange platform’s stock to outperform expectations and reach a price tag of $160. In an accompanying research note, […]
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A Bloomberg intelligence analyst is estimating that top US-based crypto exchange platform Coinbase has a 70% chance of winning a motion to toss out the U.S. Securities and Exchange Commission’s (SEC) lawsuit against it. In a new thread, Bloomberg analyst Elliott Stein says that before going into a court hearing on the matter, he believed […]
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Bloomberg Intelligence’s senior macro strategist Mike McGlone is warning that Bitcoin (BTC) is topping out and about to undergo a market correction. In a new discussion with crypto influencer Scott Melker, McGlone predicts that Bitcoin will start to decline after a months-long rally leading up to the possible approval of a spot Bitcoin exchange-traded fund […]
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The president of crypto clearing house CBOE Digital is reportedly optimistic that the greenlighting of the first Bitcoin (BTC) exchange-traded fund in the US will fuel institutional interest in the crypto markets. According to a new report from Bloomberg, John Palmer anticipates new institutional investors, including pension and registered investment advisor (RIA)-based funds, will flock […]
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The biggest asset management firm in the world is naming banking giant JPMorgan and trading firm Jane Street as authorized participants for its spot market Bitcoin (BTC) exchange-traded fund (ETF) bid. According to Bloomberg analyst Eric Balchunas, BlackRock updated its S-1 filing to the U.S. Securities and Exchange Commission (SEC) – the form for the […]
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Institutional investor interest soars as Bitcoin options open interest hits record high.
Bitcoin (BTC) options open interest reached an unprecedented milestone, surging to a staggering $20.5 billion on Dec. 7. This remarkable achievement signifies the active involvement of institutional investors in the cryptocurrency space. Unlike futures contracts, BTC options come with predetermined expiration prices, offering valuable insights into traders’ expectations and the markets’ sentiment.
At the forefront of the Bitcoin options market stands Deribit, boasting an impressive 90% market share. The exchange currently holds a substantial $2.05 billion open interest for options expiring on Jan. 26. However, it's worth noting that a significant portion of these bets may lose their value as the deadline approaches.
Nonetheless, with the prospect of a spot exchange-traded fund (ETF) gaining regulatory approval, previously sidelined bullish bets are reentering the playing field.
