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  • BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

    BlackRock’s spot Bitcoin ETF hits $30 billion, sets new record in 293 days

    BlackRock launches Ethereum ETF on the B3 stock exchange in Brazil
    • BlackRock takes the lead reaching $30 billion in 293 days. JEPI took 1,272 days and Gold managed it in 1,790 days
    • Spot Bitcoin ETFs could reach one million Bitcoin, surpassing Satoshi Nakamoto by mid-December

    BlackRock’s spot Bitcoin exchange-traded fund (ETF) has hit $30 billion in assets setting a new record of 293 days, showcasing rising interest in crypto investments.

    The milestone from BlackRock comes 10 months after the company launched its spot Bitcoin ETF in January. Then, it was reported that BlackRock had traded $7.5 million shares within the first 10 minutes of launching.

    Now, BlackRock holds more than 417,000 Bitcoin, valued at $30.4 billion, according to iShares data.

    Taking to X, Bloomberg analyst Eric Balchunas, said what BlackRock has achieved is an “all-time record,” adding “the old record was $JEPI which did it in 1,272 days. $GLD took 1,790 days. Unreal.”

    Balchunas also noted that Bitcoin ETFs could reach one million Bitcoin soon. At the time of publishing, the number sits around 983,000. If such a milestone is reached Balchunas believes that the combined spot Bitcoin ETFs could surpass Satoshi Nakamoto’s wallet, which holds 1.1 Bitcoin, by mid-December.

    “That said, anything can happen, eg a violent selloff and all this is delayed albeit still inevitable,” he added. “On flip, if prices keep going up, Trump wins, we could see FOMO could kick in and it all happens faster. Stay tuned.”

    Decentralized prediction market platform, Polymarket, and, more recently, Robinhood, an investment app, have launched data predicting who will win the US Presidential election on November 5.

    At the time of publishing, Polymarket shows former US president Donald Trump in the lead at 67% with Vice President Kamala Harris behind at 33.1%.

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  • Grayscale wants to convert its mixed-crypto fund into an ETF

    Grayscale wants to convert its mixed-crypto fund into an ETF

    Grayscale wants to convert its mixed-crypto fund into an ETF
    • Grayscale filed to convert its $524M Digital Large Cap Fund into an ETF
    • The fund includes BTC, ETH, Solana, XRP, and Avalanche among its holdings
    • This is Grayscale’s third ETF conversion after its Bitcoin and Ethereum funds

    Grayscale Investments has taken a significant step toward expanding its suite of cryptocurrency-based financial products by filing with the US Securities and Exchange Commission (SEC) to convert its Digital Large Cap Fund (GDLC) into an exchange-traded fund (ETF).

    The GDLC, which currently trades over the counter, offers diversified exposure to several leading digital assets, including Bitcoin (BTC), Ether (ETH), Solana (SOL), Ripple (XRP), and Avalanche (AVAX).

    Grayscale’s move marks a continued effort by Grayscale to make cryptocurrency investments more accessible to traditional investors.

    Grayscale’s Digital Large Cap Fund (GDLC)

    According to the company’s report, the fund has $524 million in assets under management, with a significant concentration in Bitcoin and Ethereum, making up nearly 75% and 19% of the holdings, respectively.

    The remaining portion is allocated to Solana, XRP, and Avalanche, providing investors with a balanced exposure to established and emerging cryptocurrencies.

    The third time Grayscale is converting a fund into an ETF

    If approved, the ETF would represent Grayscale’s third conversion of a fund into an ETF, following its previous transitions of Bitcoin and Ethereum funds earlier this year.

    A spokesperson from Grayscale emphasized that the filing reflects the firm’s commitment to enhancing the accessibility of the crypto asset class for mainstream investors.

    The company aims to leverage the regulatory structure of an ETF to offer a more efficient and widely accepted investment vehicle, which could attract additional interest from institutional and retail investors.

    In parallel with Grayscale’s move, the market has seen a surge in ETF filings for various crypto assets.

    Recently, Bitwise submitted an application to the SEC seeking permission to list a spot XRP ETF and Canary Capital submitted applications to list XRP and Litecoin ETFs. However, these filings have yet to receive approval, underscoring the regulatory uncertainty surrounding crypto-based ETFs in the United States.

    Grayscale’s initiative to convert GDLC into an ETF aligns with its broader strategy of offering products that bridge the gap between traditional finance and the evolving digital asset landscape.

    Alongside its proposed conversion, the firm has also introduced funds that provide exposure to XRP and the AAVE governance token, reflecting its proactive approach to navigating the competitive and regulatory dynamics of the crypto market.

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  • Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts

    Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts

    Ark Invest sells $2.8M of its own Spot Bitcoin ETF amid market shifts
    • Ark Invest sold 44,609 shares of its ARKB Spot Bitcoin ETF for $2.8 million as part of a rebalancing strategy.
    • The firm retains $139.7 million in ARKB, making it the second-largest holding in ARKW.
    • US spot Bitcoin ETFs saw $4.5 million in inflows, while Ethereum ETFs faced outflows.

    Cathie Wood’s Ark Invest has made headlines by offloading 44,609 shares of its ARKB Spot Bitcoin ETF, valued at $2.8 million. The sale, which took place on Monday, is part of Ark’s ongoing rebalancing strategy to adjust its fund weightings.

    However, the move is not the first of its kind, with the firm having sold $6.9 million worth of ARKB shares in early August and $7.8 million in July. In total, Ark Invest has divested $17.5 million from its Bitcoin ETF.

    Ark Invest avoiding overexposure to any one asset

    Despite these sales, Ark Invest continues to hold a significant $139.7 million in the ARKB ETF, positioning it as the second-largest holding in its Next Generation Internet ETF (ARKW). The ETF still maintains a notable 9.93% weighting within ARKW’s portfolio.

    Tesla remains the largest asset in the ARKW fund, with a 10.15% weighting, worth approximately $142.9 million.

    Ark’s recent sales align with its overarching strategy of preventing any single holding from exceeding 10% of an ETF’s portfolio. By capping weightings, the firm aims to ensure adequate diversification, avoiding overexposure to any one asset.

    Ark has actively adjusted its asset allocation to maintain balance across its funds seeing that ARKB’s value has surged up 26.5% year-to-date.

    As of Monday, ARKB traded at $63.25, reflecting a 0.8% gain for the day. This rise mirrors broader optimism in the Bitcoin market, with Bitcoin itself trading flat but holding steady at around $63,676.

    US spot Bitcoin ETFs see strong inflows

    While Ark continues to manage its Bitcoin exposure, US spot Bitcoin ETFs are experiencing strong inflows, with a net addition of $4.5 million on Monday alone, extending their positive streak to three consecutive days.

    In contrast, US spot Ethereum ETFs have seen outflows, with $79.3 million exiting the funds.

    Ark Invest’s strategic rebalancing underscores its commitment to diversification while navigating the ever-evolving landscape of digital assets.

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  • SEC delays decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF

    SEC delays decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF

    SEC delays decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF
    • SEC postpones decision on 7RCC Spot Bitcoin and Carbon Credit Futures ETF to June 24, 2024.
    • The ETF plans to invest 80% in Bitcoin and 20% in Carbon Credit Futures-linked financial instruments.
    • Gemini has been named custodian for the ETF.

    The United States Securities and Exchange Commission (SEC) has announced a delay in its decision regarding the 7RCC Spot Bitcoin and Carbon Credit Futures ETF, a proposed exchange-traded fund focused on carbon credit futures contracts and Bitcoin (BTC).

    The delay was announced in a filing made on Thursday and it extends the timeline for the U.S. SEC to evaluate the proposed exchange-traded fund until June 24, 2024.

    During the extended timeline, the SEC aims to thoroughly review the proposal before making a final determination, citing the need for sufficient time to consider the potential impacts of the proposed rule change.

    The 7RCC Spot Bitcoin and Carbon Credit Futures ETF

    The 7RCC Spot Bitcoin and Carbon Credit Futures ETF plans to allocate 80% of its assets to Bitcoin and the remaining 20% to financial instruments linked to Carbon Credit Futures. This unique investment strategy aims to provide investors with a diversified portfolio that encompasses both digital assets and environmental sustainability.

    The ETF’s approach is aligned with the evolving landscape of finance, offering a single-trade solution for those seeking exposure to both innovative technologies and progressive environmental initiatives. Gemini, a leading crypto exchange, has been named as the custodian for the ETF, signalling a significant partnership in the burgeoning digital asset space.

    The postponement news reflects the ongoing scrutiny and evaluation by regulatory bodies like the SEC in navigating the intersection of traditional finance and emerging technologies.

    As the deadline approaches, stakeholders eagerly await the SEC’s decision, which will have implications for the future of investment opportunities in both the digital asset and environmental sectors.

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  • Bitcoin ETF inflows surge, threatening gold’s reign as store-of-value

    Bitcoin ETF inflows surge, threatening gold’s reign as store-of-value

    • Bitcoin ETF inflows surge, threatening gold’s dominance.
    • Divergence in fund flows: Bitcoin gains, gold loses.
    • Bitcoin acts as a ‘risk-on’ investment and a safe-haven asset.

    In a seismic shift within the financial landscape, Bitcoin is rapidly gaining ground as a store-of-value asset, challenging its traditional counterpart, gold. Recent data reveals a substantial surge in spot Bitcoin ETF inflows, particularly in the United States, setting the stage for a potential challenge to gold’s historical dominance.

    This shift not only signals a changing tide in investment preferences but also prompts speculation about Bitcoin’s long-term disruptive potential.

    Bitcoin ETFs vs gold: the growing divergence

    The past week has witnessed an impressive surge in spot Bitcoin ETF inflows, culminating in a near 10% increase in Bitcoin’s price. Notably, the lion’s share of these new investments is pouring into US-based ETFs, reflecting the increasing importance that these funds play in shaping Bitcoin’s overall performance. Analysts suggest that this uptrend is beginning to reveal a growing divergence between global fund flows into Bitcoin and those into gold.

    The data from ETC Group demonstrates a stark contrast in the year-to-date net flows, with Bitcoin ETPs experiencing a substantial increase since the start of February. Concurrently, gold has faced net negative flows, signalling a shift in investor sentiment. BlackRock’s iShares Bitcoin ETF, securing a significant share of last week’s inflows, exemplifies this trend, underlining the rising prominence of Bitcoin in the investment landscape.

    Bitcoin’s dual role: ‘risk-on’ investment and safe-haven asset

    According to analysts, the top 14 gold ETFs have witnessed a considerable outflow of nearly $2.4 billion since the beginning of the year. 

    In stark contrast, the ten leading Bitcoin ETFs have collectively attracted a robust $3.89 billion in inflows. This trend underscores Bitcoin’s dual nature as both a ‘risk-on’ investment and a reliable safe-haven asset.

    Market experts anticipate that this trend will persist, with Bitcoin poised to disrupt gold’s role as the primary store of value over the long term. Despite Bitcoin’s current ETP and ETF market cap being dwarfed by gold’s market cap, there’s speculation that driven by price appreciation, Bitcoin could potentially surpass gold’s market cap in the next two years. While Bitcoin currently stands as the newcomer challenging gold’s reign, its growing influence is undeniable, posing a potential threat to the precious metal’s long-standing supremacy.

    As Bitcoin continues its ascent, the financial world watches with keen interest, curious to see if this disruptive force will indeed reshape the future of store-of-value assets, signalling a broader evolution in investment preferences on a global scale.

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  • Immutable and InQubeta altcoins to watch; Invesco and Galaxy slash fee in Spot Bitcoin ETF race

    Immutable and InQubeta altcoins to watch; Invesco and Galaxy slash fee in Spot Bitcoin ETF race

    Following the SEC decision on Bitcoin ETFs and the launch of the market on January 11, the race between asset managers continues to heat up. Invesco, a leading global provider of ETFs, in partnership with Galaxy Asset Management, launched the Invesco Galaxy Bitcoin ETF (BTCO). This move was intended to offer efficient exposure to spot Bitcoin—a different approach to other Bitcoin ETF issuers.

    To capture a greater share of the Bitcoin ETF market and climb up the ladder—currently ranked 6th—Invesco and Galaxy said on Monday that they are cutting the sponsor fee. The fund’s fee will be slashed from 0.39% to 0.25%, putting it on par with most rivals.

    At the same time, altcoins sharing the spotlight are Immutable (IMX) and InQubeta (QUBE). These top altcoins have been stirring up quite a buzz thanks to their staggering upside potential. Poised to skyrocket, these are the best cryptos to buy now and altcoins plays not to miss out on.

    InQubeta (QUBE): aiming for a surge after launch

    InQubeta (QUBE) is one of the new ICOs quickly gaining investors’ confidence. For starters, it is one of the most bullish narratives, standing at the intersection of AI and blockchain. Additionally, other token features like deflationary tokenomics, governance, and staking further make it stand out.

    Given the above, the presale selling outcomes as no surprise. To date, an astounding $8.6 million has been raised in early funding, with the $10 million fundraising milestone eyed next. In the seventh stage of the ICO, a token costs only $0.0224, and analysts tip it for a 6,000% rally after launch.

    Positioned as the best new crypto to invest in, other appeals of InQubeta involve the role it is designed to play. It aims to primarily address the fundraising challenge within the burgeoning AI sector. To this end, it will build the first crowdfunding platform that will allow tech startups to raise funds through crypto on its NFT marketplace.

    Invesco and Galaxy reduce Bitcoin ETF fee

    Spot Bitcoin ETFs continue to be the talk of the financial town—a buzz not likely to recede anytime soon. Investor sentiment post BTC ETF has also been on the rise as the market soars, with asset managers competing to get a significant slice.

    A piece of exciting news that is stirring up quite a buzz is Invesco and Galaxy deciding to cut the sponsor fee on their Bitcoin ETF, BTCO. On Monday, they announced reducing their fund’s fee from 0.39% to 0.25%, which will put BTCO on par with most rivals.

    This move came on the back of the desire to gain a competitive edge. Currently, the spot Bitcoin ETF market is dominated by BlackRock, Grayscale, and Fidelity, with Invesco and Galaxy’s ETF product ranking 6th. Hence, this new rate might see BTCO rank higher, presently boasting about $280 million in trading volume and assets under management (AUM).

    Immutable (IMX): a solid altcoin to watch out for

    Immutable (IMX) is the first layer-2 scaling solution for NFTs on Ethereum. With this, it has been able to carve out a niche and become a pioneer in the dynamic crypto landscape. As a layer-2 scaling solution, it addresses Ethereum’s limitations like illiquidity, low scalability, and poor user experience, among others.

    One of its competitive advantages is its massive scalability and zero gas fees for minting and trading NFTs. Remarkably, it does this without compromising asset or user security. Given this, Immutable is primed for massive adoption and staggering growth.

    In light of the above, it is clear why Immutable is one of the altcoins to watch for significant growth. Hence, if you wish to position yourself for substantial gains, IMX is among the best altcoins to invest in.

    Conclusion

    Invesco and Galaxy have decided to reduce their Bitcoin ETF fee from 0.39% to 0.25% as competition heats up. 

    Meanwhile, aiming to skyrocket are Immutable and InQubeta, making them altcoins to watch and investors’ favourites.

    For more information about the InQubeta presale, visit the InQubeta Presale or join the InQubeta Communities.

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  • US sanctions Bitcoin ETF, NuggetRush set to cross $1.8M in investment

    US sanctions Bitcoin ETF, NuggetRush set to cross $1.8M in investment

    • Bitcoin ETF has become a reality with the SEC approving its listing on major exchanges in the United States.
    • NuggetRush is the latest crypto sensation that has raised more than $1.8 million from eager investors.
    • As 2024 progresses, both NuggetRush and Bitcoin are expected to perform well this year.

    The United States on 10 Jan 2024 decided to include Bitcoin in major investment funds by approving 11 Bitcoin exchange-traded funds (ETFs). By doing this, the SEC has allowed Bitcoin to be bought by a wide range of investors, from big pension funds to regular people.

    Cryptocurrency fans are thrilled with this decision because Bitcoin is the best crypto investment to date. The US financial authority had previously turned down such requests, worried about the possibility of fraud and market manipulation. However, they have now given their nod and it’s finally going to be launched soon. Meanwhile, another development that has been the talk of the town is the massive presale success of an emerging altcoin called NuggetRush. It has crossed $1.8 million in investment till now and is considered a good cryptocurrency ICO for this year.

    Let’s find out more about the Bitcoin ETF sanction and the hype around the NuggetRush presale.

    Why is Bitcoin ETF news exciting for crypto fans?

    ETFs are collections of investments that let people invest in various assets without actually owning them. They are sold on stock markets like regular shares, and their value changes based on the performance of the assets they include. An ETF might have different assets, like gold and silver, or shares from various sectors like technology and insurance. Some ETFs already include Bitcoin indirectly. However, a spot Bitcoin ETF will purchase Bitcoin directly at its current DeFi coin price.

    Several investment firms, including big names like Blackrock and Fidelity, have been waiting for the SEC’s approval to include Bitcoin in their ETFs. After some discussion over the details, the first approvals have been granted. This has made it the best crypto for beginners who don’t have much knowledge about this industry. It means a new group of investors can now get into Bitcoin without the hassle of digital wallets or crypto exchanges. It’s expected that a lot of money will flow into the Bitcoin market as these financial firms begin to invest.

    Some experts think this won’t greatly change Bitcoin’s price, as spot Bitcoin ETFs exist in other countries. However, with big US players entering the market, many believe Bitcoin’s value will go up due to increased demand.

    Some people think this decision marks a significant moment, showing that Bitcoin is being taken seriously, at least as the top crypto to invest in.

    NuggetRush looking strong as it crosses $1.8M in investment

    NuggetRush is a popular play-to-earn gaming cryptocurrency which is considered the best crypto coin for investment. It has been showing impressive strength as it has gathered an investment of over $1.8 million. For those who might not be familiar, play-to-earn (P2E) games are a type of online game where players can earn real money by playing. NuggetRush is one such game that’s catching a lot of attention in the gaming communities.

    The price of each NuggetRush token is currently set at $0.018. This is quite affordable and offers a good opportunity for those interested in how to get into cryptocurrency without a huge investment. NuggetRush’s pre-sale is divided into five rounds, and right now, it’s in the fifth round. This means there’s still an opportunity to get in before the presale ends.

    One of the exciting aspects of NuggetRush is its expected launch price, which is projected to be $0.020 per token. This suggests that those who invest now during the presale could potentially see a profit when the token goes live. It’s always good to see a potential for profit in any investment, and NuggetRush seems to offer that. This makes it one of the best altcoins to watch out for this year.

    In addition to the play-to-earn aspect, NuggetRush also offers something called NFT staking. NFTs, or non-fungible tokens, are a kind of digital asset that represents ownership of a unique item or piece of content. By staking NFTs in NuggetRush, players can earn an extra 20% return. This is an attractive feature for those who are into the trending NFT market and are looking for additional ways to increase their earnings.

    Another notable feature of NuggetRush is that it has zero tax on buying and selling tokens. In the world of cryptocurrency, it’s common to see some taxes or fees associated with transactions. The fact that NuggetRush doesn’t impose any tax on transactions makes it one of the best NFT cryptos for youngsters. It means that players and investors can buy and sell tokens without worrying about additional costs eating into their profits.

    Conclusion

    As the SEC has approved Bitcoin ETF in the United States, a lot of people are now happy. Another milestone is also achieved by a notable crypto coin called NuggetRush in the world of gaming and cryptocurrency. With its entry price of $0.018 per token and the bonus of NFT staking, it’s easy to see why it’s drawing significant investment.

    For more information on the NuggetRush presale, visit the NuggetRush Presale Website.

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  • Nasdaq and Cboe eyeing Bitcoin ETF Options, Pullix’s PLX presale nears $4M

    Nasdaq and Cboe eyeing Bitcoin ETF Options, Pullix’s PLX presale nears $4M

    • SEC nods propel Bitcoin ETF options trading by Nasdaq and Cboe, marking a significant leap in crypto investment avenues.
    • Nasdaq’s BTC ETF options promise cost efficiency, advanced hedging; Analysts foresee hedge fund influx.
    • Pullix’s PLX token presale gains traction, introducing a game-changing “Trade-to-Earn” concept, reshaping crypto engagement.

    Just when everyone thought that 2024 had seen the most after the recent spot Bitocin ETFs approval by the US SEC, excitement is rippling through the crypto community again as Nasdaq and Cboe gear up for Bitcoin ETF options trading. The two have already filed applications with the SEC and the regulatory authority has recognized the applications.

    Simultaneously, Pullix, a hybrid trading platform is promising a new era in decentralized finance.

    Nasdaq and Cboe Bitcoin ETF Options trading move

    In a screenshot posted on X by James Seyffart, the SEC has already acknowledged the 19b-4s requesting the ability to trade options on spot Bitcoin ETFs.

    Nasdaq’s proposal centres around listing options for BlackRock’s iShares Bitcoin Trust, while Cboe aims to trade options on exchange-traded products (ETPs) holding Bitcoin. Notably, Cboe’s prominent role in launching six of the SEC-approved spot BTC ETFs positions it as a key player in shaping the crypto market.

    With positive market responses and efficient tracking of Bitcoin’s price since ETF trading initiation on January 11, options trading is considered the “next logical step,” offering enhanced utility and risk management for investors.

    Options trading in BTC ETFs, as proposed by Nasdaq, is hailed for bringing cost efficiencies and advanced hedging strategies to investors. Derivatives provide the right to buy or sell an asset within a specified timeframe, enhancing utility for a broader investor base, including traditional finance sectors.

    Analyst Dave Nadig from VettaFi in an interview with CNBC predicted that the introduction of BTC ETF options will attract hedge fund players, fostering increased speculation and diversified investment approaches in the crypto market.

    The regulatory waiting game is on, with options approval potentially by the end of February, pending SEC decisions and a 21-day public comment period.

    Pullix: unveiling Trade-to-Earn model 

    Amidst the crypto fervour surrounding Biotin ETFs, The upcoming Pullix trading platform takes centre stage with its innovative model. Pullix introduces a unique “Trade-to-Earn” concept, allowing users holding its native token, the PLX, to earn instant rewards for trading on the platform.

    The PLX token’s main USP lies in its revenue-sharing mechanism, enabling holders to profit from the daily revenues generated by the trading exchange. This game-changing approach combines active trading with a guaranteed fixed income, setting Pullix apart in the rapidly evolving crypto space.

    The token is currently in its sixth presale stage and is already showing signs of massive support from crypto enthusiasts. At press time, the presale had raised close to $4 million with only five stages sold out.

    To participate in the presale and acquire the PLX token ahead of the Pullix platform launch, which is scheduled for before the end of January, you can visit the official Pullix Website.

    Conclusion

    As the crypto market witnesses a transformative phase with Nasdaq and Cboe expediting options trading on Bitcoin ETFs, Pullix’s PLX presale adds another layer of excitement, introducing a “Trade-to-Earn” model that could redefine user engagement in decentralized finance.

    Investors and enthusiasts alike are closely watching these developments, eagerly anticipating the impact on investment strategies and the broader adoption of cryptocurrencies. The convergence of innovative trading platforms and tokenomics marks a significant chapter in the evolving narrative of digital assets.

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  • Grayscale applies for a covered call Bitcoin ETF

    Grayscale applies for a covered call Bitcoin ETF

    • Grayscale Investments files for covered call Bitcoin ETF post-SEC’s GBTC approval.
    • Covered call strategy leverages options on Grayscale Bitcoin Trust, targeting income.
    • Grayscale’s legal triumph shapes the evolving regulatory landscape for cryptocurrency.

    Cryptocurrency asset manager Grayscale Investments continues its strategic moves in the crypto market, recently applying for a covered call Bitcoin ETF.

    This comes hot on the heels of the successful launch of its spot Bitcoin ETF, the Grayscale Bitcoin Trust (GBTC). The move signifies Grayscale’s commitment to diversifying its offerings and expanding its presence in the cryptocurrency landscape.

    Grayscale continues crypto market forays

    Grayscale Investments’ bold move follows the approval of its spot Bitcoin ETF, GBTC, by the US Securities and Exchange Commission (SEC). The covered call ETF is designed to allow investors to generate income from options on Grayscale’s Bitcoin Trust.

    The Grayscale Bitcoin Trust Covered Call ETF will involve the strategic sale of call options, enhancing investor yield by combining asset purchases with option writing.

    The covered call strategy incorporated in Grayscale’s ETF suits investors anticipating minimal movement in the underlying Bitcoin price over the long term. Investors employing the covered call strategy often have a long-term asset retention plan while seeking to generate income through options trading.

    Grayscale’s move to introduce a covered call Bitcoin ETF aligns with the broader industry trend of expanding investment avenues in the cryptocurrency market.

    Background: Grayscale’s journey to Bitcoin ETFs

    Grayscale’s foray into the covered call ETF space comes on the heels of a complex regulatory journey. The asset management firm had initially faced hurdles when the SEC rejected its application to convert the existing Grayscale Bitcoin Trust into an ETF.

    However, a federal appeals court ruled in Grayscale’s favour in August 2023, prompting optimism and paving the way for the recent SEC approval.

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  • Bitbot gears up for presale amid uncertainty ahead of first BTC options expiry post ETF approval

    Bitbot gears up for presale amid uncertainty ahead of first BTC options expiry post ETF approval

    • BTC options expiry reveals short-term volatility post ETF approval.
    • Bitbot’s presale on Jan 17 promises unprecedented excitement with self-custodial solutions.
    • With a total supply of 1 billion tokens, Bitbot aims for a $1B market cap and top listings.

    As 2024 signals the potential start of a new bull run, the crypto market is buzzing with excitement. The recent Bitcoin ETF approval sparks short-term volatility, while Bitbot, a revolutionary Telegram trading bot, gears up for its token presale on January 17.

    In this article, we delve into the first anticipated Bitcoin options expiry post Bitcoin ETF approval and the upcoming Bitbot presale, exploring the potential for exhilarating opportunities in the evolving crypto landscape.

    First BTC Options expiry post Bitcoin ETF approval

    The approval of the Bitcoin Spot ETF on Wall Street has set the stage for unprecedented market movements. Despite the historical significance, Bitcoin’s price exhibits a muted response, currently trading at $46,080.

    According to Greeks.Live, as of January 12, 36,000 Bitcoin options are on the verge of expiration, presenting a Put Call Ratio of 0.9. With a Maxpain point at $45,000 and a notional value of $1.68 billion, the market anticipates a short-term rollercoaster ride.

    Crypto market post-Bitcoin ETF approval

    While the adoption of the Bitcoin Spot ETF promises long-term benefits, short-term uncertainties persist. Short-term implied volatilities (IVs) experienced a peak before declining, creating an environment of caution and anticipation among investors.

    Santiment’s data suggests a potential shift post-ETF approval, with a slight decrease in active Bitcoin (BTC) wallets. Although this might not significantly impact prices, traders may explore transitioning to ETF exposure, adding a layer of intrigue to market dynamics.

    Bitbot’s presale buzz

    As the crypto community braces for potential market shifts, Bitbot, a Telegram bot, emerges as a disruptive force, offering a self-custodial trading solution on Telegram. The Bitbot token presale, set to launch on January 17, introduces a new wave of excitement and investment opportunities.

    The Telegram bot boasts a total supply of 1,000,000,000 tokens. The presale, spanning eight stages, will see 30% of the tokens distributed. An additional 20% is allocated to the Bitbot development team to fund ongoing innovation, ensuring long-term utility.

    Bitbot’s ultra-flexible wallet management, powered by MPC custodial API technology, sets it apart. The MPC system replaces private keys with individual key shares, enhancing privacy and accuracy. Knightsafe, Bitbot’s custody partner, adds an extra layer of security with an open-source and decentralized digital asset self-custody service.

    Is Bitbot a good investment?

    Well, any cryptocurrency investment move is up to the investor. However, a thorough background check and market analysis are required due to the volatile nature of the cryptocurrency market.

    As Bitbot’s presale launch approaches, it is important to note that the Telegram bot introduces an Anti MEV Bot, preventing monitoring by MEV bots and anti-rug features to thwart potential scams. Additionally, Bitbot users can copy trades of top traders, enjoy a built-in referral program, and sign up with ease, creating an enticing user experience.

    Bitbot allocation strategy, focusing on development, marketing, and liquidity provision, aims to achieve a $1B market cap and secure listings on top exchanges. In addition, the upcoming $100K competition adds a layer of excitement, making Bitbot a potential gem in the evolving crypto landscape.

    Conclusion

    In the midst of evolving market trends and the potential for a crypto Bull Run, Bitbot and Bitcoin stand as key players.

    The BTC options expiry and Bitbot’s presale create a dynamic landscape, offering traders and investors a myriad of opportunities.

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