Kategorie: Crypto News

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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.

The post Grayscale applies for a covered call Bitcoin ETF appeared first on CoinJournal.

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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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Novogratz foresees Bitcoin ETF Battle: does fractional vacation home ownership offer an alternative?

The recent regulatory green light for 11 Bitcoin spot exchange-traded funds (ETFs) has triggered fierce competition among asset management giants. Mike Novogratz, CEO of Galaxy Digital, anticipates a showdown between Invesco, Fidelity, and BlackRock, whose IBIT traded $7.5M shares in the first 10 minutes of the launch

Amidst this crypto turbulence, Everlodge, a disruptor in fractional vacation home ownership, is making waves with its ongoing ELDG token presale.

Bitcoin ETF war unleashed

The approval of 11 Bitcoin spot ETFs has set the stage for a high-stakes battle among industry behemoths. According to Mike Novogratz, a prominent figure in the crypto sphere, the ETF landscape is becoming a hotbed of competition. In a recent CNBC interview, Novogratz highlighted that success in this emerging market depends on execution, liquidity, and hidden fees, rather than just focusing on expense ratios.

Novogratz’s insights stem from his experience, as Galaxy Digital, his firm, has partnered with Invesco to launch its cryptocurrency ETF. He predicts a fierce struggle for dominance, emphasizing that the ETF market is not one-size-fits-all. The recent regulatory approvals have ignited a race for customers, with Invesco, BlackRock, and Fidelity emerging as key contenders in the crypto showdown.

Everlodge: unlocking vacation home ownership

In a parallel narrative, Everlodge is disrupting the vacation home industry with its ongoing ELDG token presale. This innovative platform allows users to invest fractionally in hotels, luxury villas, and vacation homes on the blockchain. Everlodge’s approach to fractional investing eliminates the complexities associated with traditional real estate investment, providing a seamless experience for users.

The ELDG token, designed as a genuine utility token, incentivizes and benefits the Everlodge community and investors. Early adopters stand to gain from features such as passive income through staking, exclusive monthly rewards, and eligibility for the Everlodge private members club. Token holders can also leverage their ELDG tokens for discounts on trading fees and purchases within the Everlodge ecosystem.

Is Everlodge a good investment?

The question on many minds is whether Everlodge and its ELDG token represent a sound investment opportunity. Everlodge’s unique approach to democratizing vacation home ownership, coupled with the integration of blockchain technology, positions it as a disruptor in the industry. The ongoing ELDG token presale provides early investors with a chance to participate in this groundbreaking venture.

Investors looking for an alternative asset class may find Everlodge appealing. The platform’s emphasis on providing passive income, discounts, and exclusive rewards adds an attractive layer to the investment proposition.

However, as with any investment, potential participants should conduct thorough research, considering factors like market trends, Everlodge’s roadmap, and broader economic conditions.

Conclusion

The cryptocurrency landscape is witnessing macro-level battles among industry giants like Invesco, BlackRock, and Fidelity, and micro-level disruptions through innovative platforms like Everlodge. The regulatory approval of Bitcoin spot ETFs has not only intensified competition but also highlighted the evolving nature of the crypto market.

As investors navigate this dynamic environment, Everlodge is a testament to the ongoing transformation in how people invest and engage with emerging technologies in the digital age.

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Hedera and Algorand forge an alliance for crypto recovery

  • Hedera and Algorand jointly launch Decentralized Recovery (DeRec) protocol for robust digital asset security.
  • DeRec protocol uses trusted entities, secret sharing, and automatic confirmations for enhanced recovery.
  • The Hedera and Algorand alliance aligns with industry needs for improved safety standards.

In a groundbreaking collaboration, blockchain ecosystems Hedera and Algorand, including the HBAR Foundation and Algorand Foundation, have united forces to address the challenges of decentralized wallet recovery.

The newly formed Alliance, consisting of key figures from both ecosystems, introduces an innovative Decentralized Recovery (DeRec) protocol. This protocol sets out to enhance digital asset security and recovery, offering a robust solution to a critical need in the blockchain industry.

The DeRec Alliance

The DeRec Alliance was unveiled at the Crypto Finance Conference in St. Moritz by Dr. Leemon Baird, the co-founder of Hedera, and John Woods, the CTO of the Algorand Foundation.

The centrepiece of the DeRec Alliance is the Decentralized Recovery (DeRec) protocol, a pioneering approach to managing digital secrets. This open-source protocol is grounded in the concept of secret sharing among trusted entities, such as friends or businesses. Users can recover their secrets with the assistance of these trusted entities, ensuring security without any single party having complete access to the information.

The DeRec protocol includes automatic confirmations to guarantee that helpers retain shares of secrets. Moreover, it facilitates automatic resharing in response to changes in secrets or modifications in the helper group. Crucially, the identities or the number of helpers involved in the process remain confidential, adding an extra layer of security and privacy.

Addressing DeFi security challenges

This strategic initiative by Hedera and Algorand addresses ongoing security challenges in the decentralized finance (DeFi) space. The DeRec Alliance’s efforts align with the broader industry’s need for improved security measures, echoing recent recommendations from regulatory bodies like the United States Commodity Futures Trading Commission.

Dr. Leemon Baird emphasizes the importance of collaboration across the industry to establish unified standards and open-source code, aiming to bolster safety within the Web3 environment.

With banks, credit unions, and various wallet software projects already participating, the DeRec Alliance indicates a growing interest in developing a more secure and user-friendly framework for digital asset management. This collaborative effort marks a significant leap forward in establishing a standardized, decentralized recovery protocol, potentially setting a new industry standard for wallet safety and trust in digital asset technologies.

By forming the DeRec Alliance and introducing the innovative DeRec protocol, Hedera and Algorand are laying the foundation for a more secure and user-friendly DeFi ecosystem.

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BTC surges as BlackRock’s IBIT trades $7.5M shares in first 10 minutes

  • Bitcoin (BTC) price surged to above $48,000 again on Thursday as spot Bitcoin ETFs made their market debut following SEC’s approval on January 10, 2024.
  • BlackRock’s Bitcoin ETF ($IBIT) traded $7.5M shares within the first 10 minutes as spot ETFs roared into the ecosystem.

Bitcoin’s price shot past the $48,000 level on Thursday as the market opened to welcome the first trading day of spot Bitcoin ETFs in the US.

The benchmark cryptocurrency’s price was up 8.8% to $48,875 at the time of writing, with a market capitalization of about $950 million. The price surge coincided with a stellar start to Bitcoin ETFs trading as BlackRock’s IBIT recorded an impressive $7.5 million traded shares within the first 10 minutes of going live.

BlackRock’s $IBIT on fire

With 20 minutes in, Bloomberg ETF analyst Eric Balchunas pointed out that volume was “big” and was set to outpace the record the ProShares Bitcoin Strategy ETF (BITO) set when it went live in October 2021. BlackRock’s IBIT, with over $292 million in shares at the time, was on track to surpass $1 billion, the analyst noted.

Other Bitcoin ETFs, including Grayscale’s GBTC, Ark Invest’s ARKB and Fidelity’s FBTC, were also heating up as trading showed demand could pick up as momentum builds. Balchunas added that “almost all the volume in first few days will convert to inflows.”

“While focus has been on bitcoin, a big takeaway is that ETFs continue to show they can handle just about anything,” the ETF guru noted in an earlier post on X. He explained this with a comparison chart showing the trading profile of spot Bitcoin ETFs in Europe.

“Spreads and prem/disc have tightened,” he wrote, adding that he expected the same outlook in the US over time.

As the ETFs markets heats up on the debut day, the uptick in BTC price has market observers pointing to a potential continuation. With the sell the news idea floated before the approval likely not happening, Bitcoin could retest the $50k level before accumulating at support levels for a new leg.

The upcoming BTC halving is another huge catalyst waiting in the wings, which analysts say could combine with overall bullish sentiment to catapult prices beyond $100k in 2024.

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