Monat: November 2024

Veröffentlicht am

BlackRock’s Bitcoin ETF options brings in nearly $2b in trade on day one

  • Bitcoin hit a record of more than $94,000 following the launch of options contracts on BlackRock’s IBIT
  • 289,000 contracts were Calls and 65,000 were Puts, meaning investors were bullish on a Bitcoin price rise
  • Joe Constori said the market is bullish that Bitcoin’s price will reach $100,000 by the end of 2024

Options contracts on BlackRock’s iShares Bitcoin Trust (IBIT) saw “unheard-of” notional exposure levels, helping push Bitcoin to a record of over $94,000.

Taking to X, Bloomberg ETF analyst James Seyffart, said:

“Final tally of $IBIT’s 1st day of options is just shy of $1.9 billion in notional exposure traded via 354k contracts. 289k were Calls & 65k were Puts. That’s a ratio of 4.4:1. These options were almost certainly part of the move to the new #Bitcoin all time highs today.”

Buying calls is bullish as investors only profit if the price of Bitcoin goes up. With the new options contract, investors can speculate on price movements by trading shares at predetermined prices.

Joe Constori, head of growth at Theya and institutional lead at the Bitcoin Layer, said on X that “TLDR; the market is bullish that Bitcoin’s price ends the year well over $100k.”

Bloomberg’s senior ETF analyst Eric Balchunas added:

“$1.9b is unheard of for Day One. For context, $BITO did $363m and that’s been around for four years. And also this is with 25,000 contract position limits.”

Increasing institutional interest

The launch of BlackRock’s options contracts comes as institutional interest in Bitcoin rises. With the IBIT options, investors can gain exposure to new avenues of investment while managing their risk through the call and put options without owning the underlying asset.

In January, the US Securities and Exchange Commission (SEC) approved the first 11 spot Bitcoin exchange-traded fund (ETFs). Since then, the market has grown with BlackRock leading the way.

At the end of October, BlackRock’s IBIT reached $30 billion in net assets in a record 293 days. Two weeks later, it reached $40 billion in net assets in 211 days, showcasing rising interest in crypto investments.

The post BlackRock’s Bitcoin ETF options brings in nearly $2b in trade on day one appeared first on CoinJournal.

Veröffentlicht am

Elixir, Securitize launch DeFi vaults for BlackRock’s BUIDL

  • Elixir and Securitize have partnered to unlock $1 billion in tokenized real-world assets (RWA) to DeFi.
  • The platforms have launched DeFi vaults for BlackRock’s BUIDL fund, with Elixir’s decentralized dollar deUSD core to the project.

Elixir, the network powering the decentralized yield-bearing synthetic dollar deUSD, has teamed up with BlackRock’s tokenization partner Securitize to launch a liquid staking token for tokenized securities.

The partnership seeks to bring billions of dollars in gated capital to the decentralized finance market, Elixir said in an announcement on Nov. 19.

Elixir, Securitize launch DeFi vaults for BUIDL

According to the platform, users will leverage deUSD to access Blackrock’s tokenized fund BUIDL and other RWA assets for DeFi across the market. deUSD will be the primary currency of the “deUSD RWA Institutional Program.”

In a comment, Elixir founder & chief executive officer Philip Forte said:

“Elixir is excited to partner with Securitize to bring this 0 to 1 innovation to DeFi. The Elixir Network is a purpose-built stack powering exchange orderbooks and deUSD (“Decentralized US Dollar”). For the first time ever, holders of tokenized real-world assets can natively use their assets onchain in DeFi, accessing unified liquidity via deUSD.”

The collaboration seeks to use deUSD to unlock yield-opportunities for the over $1 billion real world assets that Securitize has issued across DeFi. The offering is via the sToken and the new ERC-4626 vault technology in partnership with Elixir’s “deUSD RWA Institutional Program.”

“With the launch of this innovative sToken functionality, Securitize is enabling a new frontier in DeFi by making it possible to leverage any Real World Asset token issued using the DS Protocol,” Securitize co-founder & chief executive officer Carlos Domingo said in a statement.

“This functionality not only provides liquidity options but also bridges the gap between traditional assets and the digital asset economy, offering investors more ways to manage and optimize their portfolios,” he added.

The RWA onchain market is currently valued at over $13 billion, while tokenized US Treasuries account for over $2.4 billion. On Nov. 19, Bitfinex Securites announced the launch of the first tokenized US T-bill in El Salvador.

The post Elixir, Securitize launch DeFi vaults for BlackRock’s BUIDL appeared first on CoinJournal.

Veröffentlicht am

Injective offers users the ability to create their own AI agents with new SDK

  • Injective’s iAgent SDK enables on-chain AI agents using natural language commands.
  • Users can automate payments, trades, and market analysis with tailored AI agents.
  • iAgent combines AI and blockchain, simplifying tasks for both experts and novices.

Injective, a prominent blockchain protocol for finance, has unveiled a groundbreaking software development kit (SDK) called iAgent.

This innovative toolkit empowers users to build on-chain AI agents capable of automating blockchain tasks through natural language commands, heralding a new era of AI-driven blockchain interactions.

Announced at the Injective Summit 2024, iAgent integrates seamlessly with large language models such as OpenAI’s ChatGPT.

The SDK simplifies complex blockchain operations by allowing users to perform tasks like instant payments, order placement across decentralized exchanges, wallet balance checks, and predictive trend analysis—all through conversational commands in everyday English.

The flexibility of iAgent allows users to create multiple agents tailored for specific purposes. For instance, one agent can monitor market data in real-time, while another can handle automated trade execution. The system ensures transparency by tracking transactions with details such as hash codes and block heights, making it both user-friendly and secure.

Injective has positioned iAgent as a key solution for combining artificial intelligence with on-chain infrastructure, aiming to redefine the possibilities of AI in the financial sector. The toolkit also enables AI agents to interact with APIs, databases, and applications, further enhancing automation capabilities.

The launch aligns with a growing trend in the crypto industry where AI agents are becoming increasingly popular. Venture capital funds like ai16z and projects such as Virtuals Protocol are championing this narrative, pushing for the integration of AI agents capable of autonomous decision-making in blockchain ecosystems.

Injective’s innovation comes amid bullish market predictions for 2025, with factors like pro-crypto sentiment under Donald Trump’s presidency expected to drive the adoption of AI-powered blockchain solutions.

With features such as natural language processing, real-time market analysis, and predictive analytics, iAgent offers a comprehensive solution for both developers and non-technical users.

By automating and simplifying blockchain interactions, Injective is paving the way for AI-enabled finance, solidifying its position as a leader in the decentralized finance (DeFi) space.

The post Injective offers users the ability to create their own AI agents with new SDK appeared first on CoinJournal.

Veröffentlicht am

Coinbase will delist Wrapped Bitcoin (WBTC) next month

  • Coinbase will delist WBTC on December 19, 2024, due to unmet listing criteria.
  • WBTC will be moved to limit-only mode, with withdrawals still accessible.
  • Coinbase’s cbBTC, launched in September, has been gaining market share in wrapped Bitcoin.

Coinbase, one of the largest cryptocurrency exchanges, has announced it will delist Wrapped Bitcoin (WBTC) from its platforms on December 19, 2024.

The decision will affect all Coinbase services, including Coinbase.com, Coinbase Exchange, and Coinbase Prime, and comes amid ongoing assessments of the exchange’s listing standards.

As part of the transition, WBTC order books have been switched to limit-only mode. This allows users to place, cancel, and match limit orders but restricts other trading functionalities.

Despite the suspension of trading, Coinbase assured users that WBTC holdings would remain accessible, and withdrawals could be made at any time.

WBTC doesn’t meet Coinbase listing criteria

In its statement, Coinbase noted that the move was a result of its latest review, which suggested Wrapped Bitcoin (WBTC) no longer meets its listing criteria.

While no specific reasons were disclosed, the announcement emphasizes Coinbase’s commitment to maintaining regulatory compliance and providing high-quality assets for trading.

Notably, the delisting comes just months after Coinbase launched its own wrapped Bitcoin token, Coinbase Wrapped Bitcoin (cbBTC).

Introduced in September 2024, cbBTC is an ERC-20 token fully backed 1:1 by Bitcoin held in Coinbase’s custody. It offers integration with decentralized applications (dApps) across networks like Ethereum, Base, and Solana.

CbBTC has quickly gained traction, reaching a market capitalization of $1.3 billion and a circulating supply of over 15,000 tokens. The majority of cbBTC tokens—82%—are on Coinbase’s Base network, with the rest distributed across Ethereum and Solana.

The rising popularity of cbBTC positions it as a strong competitor to WBTC in the DeFi ecosystem.

Wrapped Bitcoin (WBTC) team surprised by the move

In response the WBTC team has expressed surprise and disappointment over Coinbase’s decision to delist the asset, reaffirming their dedication to compliance, transparency, and decentralization.

In a statement, they emphasized the robust governance, secure custody processes, and regulatory adherence of their product, positioning WBTC as the most decentralized wrapped BTC solution available.

The WBTC team urged Coinbase to reconsider its decision, offering to provide additional information or clarification to resolve any concerns.

The post Coinbase will delist Wrapped Bitcoin (WBTC) next month appeared first on CoinJournal.