Reflexivity squared: How Bitcoin ETF options could lead to explosive price movements.
Bitcoin ETF news
Bitcoin continues its march toward $100,000, and several altcoins could be poised to hit new all-time highs.
As a result of the reverse share splits, the Grayscale Bitcoin Mini Trust ETF and Grayscale Ethereum Mini Trust ETF are set to see 5x and 10x price increases, respectively.
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.
Bitcoin analysts and traders have long dreamed of a $100,000 BTC price, but what would the achievement mean for derivatives markets?
“The floodgates for Bitcoin’s next evolution in financial markets are about to open,” says Bitcoin custody firm Theya Head of Growth Joe Consorti.
Bitcoin is witnessing a tough battle between the bulls and the bears, but the buyers remain in control as long as the price remains above $85,000.
Some experts suggested that options trading for shares of BlackRock’s iShares Bitcoin Trust could launch on the Nasdaq as early as Nov. 19.
The latest inflows bring spot Bitcoin ETFs’ total net assets to $95.4 billion, or 5.27% of Bitcoin’s $1.8 trillion market capitalization.
ETF analyst Eric Balchunas says “the ball” is now with the Options Clearing Corporation, forecasting that spot Bitcoin ETF options will “list very soon.”