Kategorie: Bitcoin News

Bitcoin news about the Bitcoin (BTC) blockchain and its crypto ecosystem.

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Cboe to launch first cash-settled Bitcoin index options

  • Cboe to launch cash-settled Bitcoin index options based on the CBTX index on Dec 2.
  • The options will offer indirect exposure to Bitcoin via US spot Bitcoin ETFs.
  • Mini options and customizable FLEX options will also be available at launch.

Cboe Global Markets, a leader in the derivatives and securities exchange network, has announced plans to launch the first cash-settled index options tied to the price of spot Bitcoin.

The new offering, set to go live on December 2, 2024, will be based on the Cboe Bitcoin US ETF Index (CBTX), marking a significant development in the world of cryptocurrency derivatives.

The CBTX index, a modified market cap-weighted benchmark developed by Cboe Labs and Cboe Global Indices, is designed to track the performance of a basket of Bitcoin exchange-traded funds (ETFs) listed on US exchanges. The index aims to offer indirect exposure to spot Bitcoin by reflecting the performance of these ETFs, providing investors with a way to gain exposure to Bitcoin’s price movements without directly holding the asset.

The upcoming options will be listed exclusively on the Cboe Options Exchange, regulated by the US Securities and Exchange Commission (SEC), and will be cash-settled at expiration. This means that positions will be closed in cash rather than requiring physical delivery of Bitcoin ETFs, simplifying the process for traders.

In addition, these options will feature European-style exercise, meaning they can only be exercised on the expiration date, eliminating the risk of early assignment.

To further broaden market access, Cboe will also offer mini options (MBTX) at launch. These options will be one-tenth the notional value of the standard options, offering greater flexibility for smaller portfolios and more granular risk management.

Additionally, Cboe plans to introduce cash-settled FLEX options for both CBTX and MBTX, allowing traders to customize key contract terms, such as exercise price, style, and expiration date.

Rob Hocking, Global Head of Product Innovation at Cboe, highlighted that the new options products are designed to meet the growing demand for efficient exposure to Bitcoin.

The launch aligns with Cboe’s broader digital assets strategy, which includes Bitcoin and Ether futures, and aims to provide both institutional and retail investors with innovative tools to capitalize on or hedge against Bitcoin price movements.

This move underscores Cboe’s commitment to expanding its crypto derivatives offerings and strengthening its position as a leading venue for crypto-related trading products.

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US spot Bitcoin ETFs hit $30 billion in combined net inflows since January launch

  • BlackRock’s IBIT attracted the most at over $600 million followed by Fidelity’s FBTC with $301 million
  • The 12 spot Bitcoin ETFs have brought in a combined $30.35 billion since launching in January

US spot Bitcoin exchange-traded funds (ETFs) took in $1 billion in daily total net inflows yesterday as Bitcoin inched closer to the $100k mark.

BlackRock’s iShares Bitcoin Trust (IBIT) saw the most inflows, attracting $608.41 million, according to SoSoValue data. Fidelity’s FBTC followed with $300.95 million. Bitwise’s Bitcoin ETF brought in $68 million and Ark and 21Shares’ ARKB attracted $17.18 million.

Grayscale’s GBTC was the only one with negative net flows, recording $7.8 million outflows.

The 12 spot Bitcoin ETFs have earned a combined $30.35 billion since launching in January following approval from the US Securities and Commission (SEC).

US Spot Bitcoin value. Source: SoSoValue

Elevated trade among the spot Bitcoin ETFs followed as Bitcoin climbed to the $100k mark on November 22, continuing its bull run.

The inflows also come after BlackRock launched its options contracts earlier this week. During trading on day one, BlackRock’s options brought in nearly $2 billion, helping to push Bitcoin to more than $94,000.

Grayscale announced this week that it was also launching Bitcoin ETF options following BlackRock’s impressive debut and a surge in investor interest.

As trade continues through spot Bitcoin ETFs, it’s becoming clear that these avenues are one of the main ways for investors to hold Bitcoin. According to Bloomberg analyst Eric Balchunas, US Bitcoin ETFs hit $100 billion in assets, adding on X:

“They’re now 97% of [the] way to passing Satoshi as [the] biggest holder and 82% of [the] way to passing gold ETFs.”

Elsewhere, in the market, Ethereum is up by more than 7% over the past week at $3,285, Solana has seen a nearly 20% increase at $253, and XRP has risen close to 60% to $1.44 in the same time, according to CoinMarketCap.

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Bitcoin gets within touching distance of $100K as rally continues

  • Bitcoin’s new price follows after it hit $98,000 yesterday
  • Analyst Skew said there is “positive market signal” and that there is “a lot of aggregate spot supply around $100k”

Bitcoin came within touching distance of $100,000 on November 22 as the asset continues its bull run since the beginning of November.

Bitcoin nears $100,000. Source: CoinMarketCap

Data from CoinMarketCap shows Bitcoin hit a high of $99,500. The record comes after Bitcoin topped $98,000 yesterday, pushed along by the launch of ETF options earlier this week.

The rally follows after Bitcoin dipped to $95,000 yesterday afternoon before rallying into the green.

Taking to X, analyst Skew said: “Price did see a brief LTF dip before higher thereafter. Still seeing limit bids moving higher with underlying spot buyers ~ positive market signal,” adding:

“A lot of aggregate spot supply around $100k. Price currently is chewing away at this supply, before this has preceded a pretty violent breakout.”

Joe Constori, head of growth at Theya and institutional lead at the Bitcoin Layer, said on X that Bitcoin at $100,000 is going to happen.

“Its properties have always destined it to be a multi-trillion dollar base layer monetary asset. It just took the price 15 years to catch up.”

Market analyst Ali mentioned that “the TD Sequential presents a sell signal on the #Bitcoin $BTC 4-hour chart, anticipating a brief correction to $97,085,” adding:

“A candlestick close above $100,470 will invalidate the bearish formation and potentially push #BTC to $102,656 or $104,343.”

Pro-crypto

The continued surge follows since Donald Trump won his re-election into the White House on November 5.

Trump, now considered pro-crypto, made several promises regarding the crypto market during his election campaign, one of which is to make the US the “crypto capital of the world.”

Earlier this week, it was reported that Trump’s transition team was considering its first-ever White House crypto office.

If established, this position would serve as a liaison between the digital assets sector, Congress, and key regulatory agencies such as the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

At the time of publishing, Bitcoin is trading at $98,600.

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Bitcoin tops $98,000 as rally gains momentum

  • Bitcoin has jumped to $98,370, its highest-ever price as bulls target $100,000.
  • The flagship cryptocurrency has rallied higher since Donald Trump’s re-election on Nov. 5

Bitcoin’s march towards $100,000 continued Thursday as the benchmark crypto asset broke past $98,000 for the first time ever.

Having hit $97k earlier in the day, BTC showed no mercy to the bears as its price stormed to a record high of $98,370 on Coinbase. At the time of writing, the cryptocurrency traded higher by 5.5% in 24 hours, pushing the asset’s market cap to above $1.94 trillion.

Analysts: “parabolic” phase begins after Bitcoin breaks $100k

Market conditions, helped by the demand for spot Bitcoin ETFs and the just launched ETF options, are suggesting the digital asset’s value is poised for a major breakout above $100k. Analyst Ali Martinez shared the chart below suggesting a bull flag pattern breakout.

Overall, Bitcoin price has jumped more than 30% in two weeks and by more than 46% in the past month. Notably, the world’s largest cryptocurrency has been on a tear since early November, when it began to rise as the US election neared.

On Nov. 5, BTC broke above $69,000 amid projections for a Donald Trump win. The decisive results only fueled bulls further, with the president-elect’s pro-crypto stance adding to the optimism.

In recent days, its Trump’s picks for his cabinet that have fueled fresh belief that the US crypto space is set for a complete flip from the last four years’ outlook.

With interest in BTC just getting onto the mainstream stage, analysts are saying the big FOMO begins when Bitcoin breaks out above $100k.

Read more: Donald Trump’s transition team considering first-ever White House crypto office

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Fundraising platform JustGiving accepts over 60 cryptocurrencies including Bitcoin, Ethereum

  • JustGiving now accepts over 60 cryptocurrencies for people to donate with
  • 94% of crypto users are Millennials and Generation Z
  • More than $2 billion has been donated to charitable causes over the past five years

UK-based fundraising platform JustGiving is teaming up with The Giving Block, a digital asset company, to start accepting crypto donations.

JustGiving now allows users to donate in more than 60 cryptocurrencies, including Bitcoin, Ethereum, Tether, and Doge, according to a report from UK Fundraising. The move comes as the crypto market is experiencing a surge in value, with Bitcoin recording a new all-time high of over $94,000 yesterday on CoinMarketCap.

According to JustGiving’s website, over the past 24 years, the fundraising platform has raised $7.2 billion (£6 billion) and is trusted by thousands of charities worldwide, including the Alzheimer’s Society, the British Heart Foundation, Macmillan Cancer Support, and Mind.

Pascale Harvie, President and General Manager of JustGiving, said:

“In recent years there has been a surge in the use of cryptocurrencies and our decision to enable cryptocurrency donations is the latest demonstration of our commitment to forward-thinking innovation.”

Tapping into a tech-savvy demographic is also key. According to JustGiving, 94% of crypto users are Millennials and Gen Z.

Alex Wilson, co-founder of The Giving Block, said that “charities need to tap into this new donor demographic,” adding:

“580 million people now use cryptocurrency around the world and the market is worth nearly $3 trillion. Our goal is to make accepting cryptocurrency donations just as easy as taking any other online donations.”

In a 2024 Annual Report from The Giving Block, it noted that more than $2 billion has been donated to charitable causes over the past five years.

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