The U.S. Securities and Exchange Commission (SEC) recently (9/20) approved the Nasdaq Exchange’s listing application for BlackRock Bitcoin ETF ($IBIT) option trading. According to the official announcement, the $IBIT option will be traded in physical form. Settlement and follow American exercise rules.
With the help of IBIT, will Bitcoin options be approved in large numbers?
Bloomberg ETF analyst Eric Balchunas said that more spot Bitcoin ETF option transactions may soon be approved, but before officially commencing trading, they still need to go through the Office of the Comptroller of the Currency (OCC) and the Commodity Futures Trading Commission (CFTC) review, so the timing of approval cannot yet be estimated.
Source: X/@EricBalchunas Bloomberg analysts expect massive approval of Bitcoin options
BlackRock CEO: Bitcoin will hit 100,000!
On the other hand, prior to the approval of the $IBIT option (9/18), BlackRock CEO Larry Fink predicted on CNBC that Bitcoin would eventually be worth $100,000. He pointed out that although Bitcoin has potential abuse concerns like other assets, when a country faces economic difficulties, such as the devaluation of legal currency due to huge debts, the government will increase its dependence on Bitcoin.
Source: X/@bitcoinlfgo BlackRock CEO predicts Bitcoin will hit $100,000
In practical terms, Bitcoin also provides people with a different way of holding assets that is different from the existing financial system. This is particularly helpful for countries with imperfect legal currency systems and can protect people from government control. Larry Fink’s remarks have always represented one of the mainstream opinions in traditional finance. Now, his strong support may encourage more institutional investors to include Bitcoin in their portfolios.
The impact of Bitcoin options on the market
The approval of the listing of Bitcoin spot ETF options not only symbolizes the expansion of trading opportunities for Bitcoin investors, but also highlights the increasing acceptance of Bitcoin by traditional finance; in addition, Nasdaq is also seeking Ethereum spot The approval of ETF options trading is a series of moves that demonstrate the increasing demand for cryptocurrencies from institutional investors.
According to Dune Analytics, Bitcoin spot ETFs saw net inflows of $535 million last week, the largest net inflow in the past eight weeks, pushing the price of Bitcoin from $59,132 to $63,578, a weekly gain of nearly 6%.
Chart source: Dune Analytics Bitcoin spot ETF weekly trading volume
[Disclaimer] There are risks in the market, so investment needs to be cautious. This article does not constitute investment advice, and users should consider whether any opinions, views or conclusions contained in this article are appropriate for their particular circumstances. Invest accordingly and do so at your own risk.
