ChainCatcher news shows that according to SoSoValue data, BlackRock's Bitcoin spot ETF (IBIT) had a total of 354,000 options contracts traded this Tuesday, with a nominal trading volume of $1.86 billion, indicating extremely high market enthusiasm on its first day of listing. The options also drove a 32% month-over-month increase in IBIT trading volume. Among all traded contracts, 288,700 were call options and 65,000 were put options, resulting in a call/put ratio of 4.44, reflecting a generally optimistic market sentiment.Data shows that market trading is concentrated on bullish options expiring on January 17, 2024, with a price range of $55-$60. Corresponding to Tuesday's closing price of IBIT, there is an increase of 4.4%-13.9%, and SoSoValue analysts stated, "This roughly corresponds to a Bitcoin price of $97,000-$105,000, indicating that the market expects Bitcoin to reach $100,000 before Trump officially takes office." Notably, the implied volatility for January options is between 68%-69%, compared to IBIT's 60-day historical volatility in the 55% range, with implied volatility exceeding historical volatility, indicating that investors prefer to hold options rather than sell them.Additionally, Grayscale's spot Bitcoin ETF GBTC and BTC options trading will also begin its debut trading this Wednesday.

ChainCatcher news, QCP Capital's latest analysis points out that NASDAQ has started trading options for the BlackRock Bitcoin Spot ETF (ticker: IBIT) today. The derivatives market for traditional assets is typically 10-20 times the market capitalization of the underlying asset, and this move will bring significant opportunities to the Bitcoin derivatives market. Institutional investors may focus on the yield generation from their long spot ETF positions, which could lead to further compression of implied volatility.The Q3 13F filings show that MicroStrategy's institutional holders have increased from 667 to 738, with Vanguard increasing its holdings by nearly 16 million shares, a growth of 1000%. Meanwhile, Goldman Sachs is planning to divest its digital asset platform, further highlighting the integration of cryptocurrency with traditional finance.In the options market, the $100,000 strike price for December still maintains the highest open interest. As the spot price stabilizes above $90,000, the implied volatility butterfly spread has decreased by 1 point compared to last week, which may lay the foundation for further Bitcoin price increases.

ChainCatcher news, Matrixport released daily charts, indicating that the current actual volatility of Bitcoin is relatively low compared to the bull markets of 2020/2021. This may be due to the rise of high-volatility alternative assets (such as meme coins) or the gradual replacement of more volatile retail traders by institutional investors, who are becoming the dominant force in the market.Currently, Bitcoin spot ETF options have officially launched, providing a new window for observing market dynamics. Against the backdrop of Bitcoin's 30-day actual volatility being at a moderate level, traders may push up implied volatility by buying call options or profit from attractive volatility premiums by selling options.The addition of an active options market is another important milestone for Bitcoin's financialization, expected to enhance market liquidity and attract more participation from professional investors.

ChainCatcher news reports that the Options Clearing Corporation (OCC) has announced on its official website that it is preparing to launch spot Bitcoin ETF options. According to the disclosed notice, the OCC is preparing for the clearing, settlement, and risk management of spot Bitcoin ETF options, which will comply with the new options listing process outlined in the options listing program.Previously, ChainCatcher reported in October that the U.S. Securities and Exchange Commission (SEC) approved the listing of multiple Bitcoin ETF options products on the Cboe Exchange and NYSE American. Cboe was approved to list options for the Fidelity Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB); NYSE American was approved to list options for the Grayscale Bitcoin Trust ETF (GBTC), Grayscale Bitcoin Mini Trust (BTC), and Bitwise Bitcoin ETF (BITB). Earlier, the SEC had approved options trading for the iShares Bitcoin Trust (IBIT) under BlackRock.According to the documents, both exchanges have set a single-side position limit of 25,000 contracts for each Bitcoin ETF option, which is lower than that of other ETF options products. As of August 30, 2024, GBTC has issued approximately 367 million shares, with a market value exceeding $13.4 billion; BITB has issued approximately 68.7 million shares; FBTC has issued over 201 million shares, with a six-month trading volume exceeding 1.1 billion shares; ARKB has issued approximately 45.5 million shares, with a six-month trading volume exceeding 297 million shares.

ChainCatcher news, Bloomberg analyst Eric Balchunas posted on social media that the CFTC has just released a notice clearing the way for the listing of spot Bitcoin ETF options.This is the second obstacle that needs to be cleared after the SEC. Now we just need to wait for the OCC (Options Clearing Corporation) to list it.

ChainCatcher news, Galaxy posted on platform X stating that the U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of spot Bitcoin ETF options on Nasdaq. However, it still requires approval from the U.S. CFTC (Commodity Futures Trading Commission) and OCC (Office of the Comptroller of the Currency), and there is currently no definitive timeline, so the exact start date for trading remains uncertain.It is reported that there are certain restrictions on spot Bitcoin ETF options trading, such as strict monitoring of market manipulation and clear position limits. Nasdaq ISE plans to collaborate with other exchanges to integrate these requirements with existing monitoring systems. Galaxy added that in the long term, spot Bitcoin ETF options could stabilize Bitcoin's volatility, enhance investor confidence, and deepen market liquidity. Coupled with the recent launch of digital asset custody services by BNY Mellon, the institutionalization of Bitcoin is accelerating.

ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) has recently approved BlackRock to list and trade its spot Bitcoin options. CryptoQuant analysts pointed out that "the launch of options on the IBIT ETF may increase the 'paper' supply of Bitcoin, as institutional investors can gain exposure to Bitcoin without directly purchasing it. Options on a spot Bitcoin ETF mean that the 'paper' supply of Bitcoin will increase, allowing institutional investors to gain exposure to Bitcoin by buying and selling options without investing in the spot market. They can hold long positions in Bitcoin through options without actually buying Bitcoin, or short options without first purchasing Bitcoin."Derivatives trader Gordon Grant discussed the impact of this trend and drew an analogy with the gold market. He emphasized that while "paper" trading accounts for a significant portion of total trading volume, physical demand is still needed to support this supply. He stated, "Although paper gold trading occupies a significant share of the total daily trading volume, spot trading does as well. While the open interest in the paper market may increase significantly, at some point, the paper supply will inevitably require paper demand, which involves physical support."

ChainCatcher news, according to The Block Pro, the SEC has delayed its decision on the listing and trading of Bitcoin spot ETF options until May 29.

ChainCatcher News: The U.S. SEC has postponed its decision on BlackRock's Bitcoin spot ETF options trading application to April 24, when it will decide whether to "approve or disapprove, or continue discussions."

ChainCatcher news, according to a report by Reuters, cryptocurrency asset management company Grayscale Investments is urging the U.S. Securities and Exchange Commission (SEC) to approve options trading for its Bitcoin spot exchange-traded fund (ETF), a move that would open the door for a new class of investors. Grayscale CEO Michael Sonnenshein stated in a letter to the SEC on Wednesday that denying options trading for the Grayscale Bitcoin Trust (GBTC.P) would "unfairly discriminate" against its shareholders, noting that the regulator had previously approved options for ETFs related to Bitcoin futures.Sonnenshein emphasized, "It is crucial for investors in GBTC and all Bitcoin spot 'exchange-traded products' to have access to exchange-listed options on GBTC and other Bitcoin spot ETPs." Bitcoin is on track for over 47% monthly growth, the largest monthly increase since December 2020, and the opening of the ETF has introduced cryptocurrency to more investors. Asset management firms are seizing this momentum to submit a second wave of more complex cryptocurrency product proposals to the SEC, including some that will use options to amplify Bitcoin volatility.It is reported that options give holders the right to buy or sell an asset (such as stocks or exchange-traded products) at a predetermined price before a set date. Regulatory approval for these new Bitcoin ETF product options may take months. The SEC is responsible for reviewing the technical rule changes that exchanges must make to list options and typically approves them a few days after the ETF begins trading. However, since the regulator views Bitcoin as a commodity, Bitcoin spot ETF options may also require approval from the Commodity Futures Trading Commission (CFTC), which oversees commodity derivatives, complicating the approval process.Experts say that without options, large investors face risk management issues, which could hinder many from participating; analysts have suggested this could help drive up to $100 billion in inflows into the ETF. Sonnenshein stated that options would facilitate price discovery for new ETF shares, helping investors navigate market conditions, hedge, and generate income. Options will also "further bring Bitcoin into the regulatory fold by allowing more regulated market participants (such as contract traders and brokers) to trade the products."

ChainCatcher news, according to Bitcoinist, the U.S. Securities and Exchange Commission (SEC) has invited the public to comment on the potential introduction of Bitcoin spot ETF options trading. Experts predict that the regulatory agency may approve as early as March.The New York Stock Exchange (NYSE) sent a letter to the SEC on Friday, requesting a rule change to allow options trading for Bitwise Bitcoin ETF (BITC), Grayscale Bitcoin Trust (GBTC), and "any trust holding Bitcoin." The NYSE stated that under U.S. trading law, Bitcoin spot ETFs are eligible for options trading because they are commodity-backed exchange-traded products (ETPs). It also mentioned that all standard exchange rules and regulations will govern various aspects of the listing and trading of spot ETF options, including listing standards, expiration dates, strike prices, minimum increments, and more.Additionally, Bitcoin spot ETF options will also be subject to the NYSE's continued listing standards. If the underlying ETF fails to meet certain standards set forth in Section 916 of the U.S. Securities Act, as well as many other conditions, Bitcoin spot ETF options may be delisted. The SEC has officially acknowledged the NYSE's latest submission, incorporating the proposal into its official register and inviting public feedback within the next 21 days.

ChainCatcher news, according to Reuters, several industry insiders have stated that the options products for the new U.S. spot Bitcoin ETF may take months to receive regulatory approval, which could diminish the attractiveness of the underlying products.Insiders indicated that the options products for the Bitcoin spot ETF have been delayed due to the lack of an established regulatory process for their approval. According to them, the U.S. SEC is responsible for overseeing the technical rule changes that exchanges must undergo to launch options products, and typically approves them a few days after the ETF begins trading.One informed source revealed that products related to the spot Bitcoin ETF could raise jurisdictional and regulatory issues, which the CFTC is still working to resolve. MarketVector Indexes digital asset product strategist Martin Leinweber expects the approval process could take anywhere from two to ten months. Another insider disclosed that some exchange executives will soon meet with CFTC officials to discuss this issue.

ChainCatcher news, according to Cointelegraph, the U.S. Securities and Exchange Commission stated on January 19 that it has received applications for BTC ETF options trading from Nasdaq and the Chicago Board Options Exchange.It is reported that Nasdaq has applied to amend its rules to allow the listing and trading of options on BlackRock's iShares Bitcoin Trust. The Chicago Board Options Exchange (CBOE) has applied to list and trade options applicable to "holding Bitcoin ETPs (exchange-traded products)." Currently, CBOE has listed 6 out of the 10 spot BTC ETFs approved by the U.S. Securities and Exchange Commission.