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Grayscale Unveils Game-Changing Bitcoin ETF Options Strategy 

Bitcoin.com
Grayscale Unveils Game-Changing Bitcoin ETF Options Strategy 
bitcoin.com
Grayscale Unveils Game-Changing Bitcoin ETF Options Strategy 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 […]
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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

BlackRock Bitcoin ETF options see ‘unheard of’ $1.9B traded on first day

Coin Telegraph
BlackRock Bitcoin ETF options see ‘unheard of’ .9B traded on first day
Bitcoin

Bloomberg’s senior ETF analyst Eric Balchunas said that “$1.9 billion is unheard of for day one” as the debut day for options on BlackRock’s spot Bitcoin ETF saw huge volumes.

Options contracts on BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust ETF (IBIT), saw nearly $2 billion in total exposure traded, which could have pushed Bitcoin to its new high of over $94,000.

“Final tally of IBIT’s first day of options is just shy of $1.9 billion in notional exposure traded via 354,000 contracts,” Bloomberg ETF analyst James Seyffart reported on Nov. 20. 

“These options were almost certainly part of the move to the new Bitcoin all-time highs today,” he added. Bitcoin (BTC) hit a new peak of $94,105 on Coinbase on Nov. 19, per TradingView.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

Bitcoin to $100K: What will milestone mean for derivatives markets?

Coin Telegraph
Bitcoin to 0K: What will milestone mean for derivatives markets?
Adoption

Bitcoin analysts and traders have long dreamed of a $100,000 BTC price, but what would the achievement mean for derivatives markets? 

Bitcoin’s (BTC) potential climb to the $100,000 price level has captivated investors for years. While retail participants often celebrate such psychological milestones, the key impact should come from institutional adoption and advancements in the Bitcoin derivatives markets. 

Bitcoin futures aggregate open interest, BTC. Source: CoinGlass

Futures open interest on Bitcoin presently totals 626,520 BTC ($58 billion), a 15% increase in two months, signaling growing interest in derivatives. If Bitcoin reaches $100,000, this open interest would hit $62.5 billion, representing 3.1% of its $2 trillion market cap. This contrasts with the S&P 500, where $817 billion in futures open interest equals only 1.9% of its $43 trillion market cap.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

Hitting and holding $100K Bitcoin price depends on $11.8B end-of-year BTC options expiry

Coin Telegraph
Hitting and holding 0K Bitcoin price depends on .8B end-of-year BTC options expiry
Bears

Bitcoin’s ability to reach and hold the $100,000 level will be influenced by the upcoming $11.8 billion options expiry.

Bitcoin’s (BTC) market is preparing for the year-end $11.8 billion options expiry, set for Dec. 27 at 8:00 am UTC. Recent data reveals a strong advantage for call (buy) options, though bears could significantly limit their losses by keeping Bitcoin’s price below $75,000.

Aggregate Bitcoin options open interest for Dec. 27. Source: Laevitas.ch

As of now, the total open interest for call options is $7.9 billion, while put (sell) options lag at $3.92 billion—underscored by Bitcoin’s 29% rise since October, which has likely rendered most put options worthless.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

What happens to Bitcoin price if Microsoft shareholders vote to buy BTC?

Coin Telegraph
What happens to Bitcoin price if Microsoft shareholders vote to buy BTC?
Coin Telegraph

Microsoft’s upcoming vote on whether or not to build a Bitcoin position is just another sign of corporations’ and institutional investors’ growing interest in BTC.

On Oct. 24, a filing by Microsoft Corp. (MSFT) with the United States Securities and Exchange Commission (SEC) revealed an unexpected item on the agenda for its upcoming annual shareholder meeting on Dec. 10. 

Alongside routine votes—such as the election of directors, the ratification of its independent auditor, and reports on AI misinformation—one proposal stood out: an "Assessment of Investment in Bitcoin." Interestingly, Microsoft's board recommended shareholders vote against it. 

As of its second-quarter 2024 financial report, Microsoft held $76 billion in cash and equivalents. If shareholders pushed the company to allocate even 10% of that to Bitcoin, it would represent a massive $7.6 billion investment.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

SEC Greenlights Bitcoin Options ETFs for New York Stock Exchange and CBOE

The Daily Hodl
SEC Greenlights Bitcoin Options ETFs for New York Stock Exchange and CBOE
Bitcoin
SEC Greenlights Bitcoin Options ETFs for New York Stock Exchange and CBOE

The U.S. Securities and Exchange Commission (SEC) is greenlighting Bitcoin (BTC) options exchange-traded funds (ETFs) for two major US exchanges. In separate statements, the regulatory agency says it’s approving the bids from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list options contracts for BTC-based ETFs. According to the […]

The post SEC Greenlights Bitcoin Options ETFs for New York Stock Exchange and CBOE appeared first on The Daily Hodl.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

SEC approves NYSE, CBOE listings of Bitcoin options ETFs

Coin Telegraph
SEC approves NYSE, CBOE listings of Bitcoin options ETFs
bitcoin etf

Traders believe that the approval of options for Bitcoin exchange-traded funds will inject much-needed liquidity into the markets.

On Oct. 18, the United States Securities and Exchange Commission (SEC) approved applications from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list the long-anticipated options for spot Bitcoin (BTC) exchange-traded funds (ETFs).

Options trading will now be available for the 11 approved ETF providers on the NYSE, including Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Franklin Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree's Bitcoin Fund, Grayscale's Bitcoin Trust, Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, BlackRock's iShares Bitcoin Trust ETF, and the Valkyrie Bitcoin Fund.

The Chicago Board Options Exchange also filed an application to list options for the spot Bitcoin ETF providers in August 2024 through a proposed rule change. This change in regulatory policy puts Bitcoin ETF options in the same category as other commodity-based ETFs, which the SEC approved to be listed on the CBOE, with the exception of Grayscale's Bitcoin Mini Trust.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

Bitcoin price fell 24%+ the last time this metric turned negative — Will it happen again? 

Coin Telegraph
Bitcoin price fell 24%+ the last time this metric turned negative — Will it happen again? 
Coin Telegraph

Bitcoin derivatives metrics shifted as BTC price fell under $59,000 today. Are lower prices incoming?

Bitcoin (BTC) declined by 5.3% between Oct. 9 and Oct. 10, reaching a three-week low of $58,900. The market correction began after the United States reported higher-than-anticipated consumer inflation data, suggesting traders are concerned that the Federal Reserve has less incentive to continue cutting interest rates in the near future.

The reaction from Bitcoin price reflects investors’ view that there is an increased chance of a recession. The US Bureau of Labor Statistics reported a 0.2% increase in the Consumer Price Index (CPI) for September compared to the prior month, which triggered concerns of 'stagflation' among investors, according to Yahoo News. In this scenario, prices continue to rise despite economic stagnation, a situation that runs contrary to the central bank's objectives of stimulating growth while controlling inflation.

Meanwhile, US jobless claims rose to a 14-month high, according to data released on Oct. 10. Initial filings for unemployment benefits unexpectedly increased, reaching a seasonally adjusted 258,000 by Oct. 5. Although part of the rise can be attributed to a labor strike at Boeing, the broader negative impact on the economy remains a significant concern for policymakers, as reported by CNBC.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

Ethereum bulls and bears fight to win this week’s $2.8B ETH options expiry

Coin Telegraph
Ethereum bulls and bears fight to win this week’s .8B ETH options expiry
Call

Ethereum price showed strength in September, but data suggests holding above $2,600 will be a challenge.

Ether (ETH) is trying to maintain its position above the $2,600 resistance level following a 15.1% gain between Sept. 18 and Sept. 23. Recent macroeconomic data indicating a weakening economy has fueled a rally in the stock market, increasing demand for short-term government bonds. In this context, traders are betting that the upcoming $2.78 billion monthly Ether options expiry on Sept. 27 could solidify the current bullish momentum.

The surge in Ether’s price has been primarily driven by a cut in US Federal Reserve interest rates, signaling a shift toward a more accommodative monetary policy. As a result, the S&P 500 index hit an all-time high on Sept. 24. Further bolstering this outlook, a drop in the S&P Global Manufacturing PMI on Sept. 23 heightened investor concerns about the health of the economy.

Ether/USD (blue) vs. US 2-year Treasury yield (magenta). Source: TradingView

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

$8.1B in Bitcoin options expire this month — Do bulls or bears have the upper hand?

Coin Telegraph
.1B in Bitcoin options expire this month — Do bulls or bears have the upper hand?
Bitcoin Price

Will this week’s $8.1 billion Bitcoin options expiry fuel a rally to $70,000 or should traders anticipate a correction? 

Bitcoin (BTC) is about to experience its second-largest monthly options expiry of 2024, totaling $8.1 billion in aggregate exposure. The question is: will this be enough to fuel a robust rally toward $70,000, or are the bearish incentives too strong to ignore?

The current Macroeconomic environment favors risk-on assets, including Bitcoin and the Sept. 27 options expiry will be a pivotal event. The neutral-to-bullish options holders are well-positioned to capitalize if Bitcoin stays above $63,000. However, bears have enough motivation to curb this advantage by pushing Bitcoin’s price below $60,000. Thus, analyzing the options market's positioning and the potential net impact of the monthly expiry is crucial.

On Sept. 24, the Chinese stock market surged following the People's Bank of China’s (PBOC) announcement of plans to lower borrowing costs and inject liquidity into the economy, including reduced mortgage repayment programs. Additionally, the PBOC pledged $113.8 billion to support the stock market, including measures for share purchases and buybacks. Lynn Song, chief economist for Greater China at ING, commented, “There is still room for further easing in the months ahead,” according to Yahoo Finance.

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MicroStrategy completes billion convertible notes offering to buy more Bitcoin

MicroStrategy completes $3 billion convertible notes offering to buy more Bitcoin

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