Bitcoin-ETF
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SEC delays ruling on Ethereum-ETF options until December
The U.S. Securities and #exchange Commission (SEC) has once again delayed a decision and the ability to list options associated with spot #EthereumETFs .
The SEC has postponed the deadline for a decision on a proposed rule change that would allow the #Cboe Exchange to list options associated with several popular spot $ETH
funds. According to the document, the deadline for the regulator to issue a ruling has been moved from Oct. 19 to Dec. 3.
In August, Cboe filed a request with the SEC for permission to pour options on nine ETFs, including BlackRock's iShares Ethereum Trust ETF, Fidelity Ethereum Fund, #GRAYSCALE Ethereum Trust and Grayscale Mini Ethereum Trust.
In September, the SEC deferred consideration of a similar rule change proposal from the Nasdaq Electronic Exchange seeking permission to list options on the iShares Ethereum Trust.
On Sept. 20, the SEC allowed Nasdaq to list options related to BlackRock's Bitcoin-ETF, the iShares Bitcoin Trust (IBIT). The bitcoin-ETF options are awaiting final approval from the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC) before listing.
According to James Seyffart, an analyst at Bloomberg Intelligence, #Bitcoin-ETF options are likely to launch in the U.S. by the first quarter of 2025. “I think an options launch is possible before the end of the year, but it's more likely to happen in the first quarter of 2025,” Seyffart said Oct. 9.
Options are contracts that give the right to buy or sell - a “call” or “put” in traders' parlance - an underlying asset at a certain price. In the U.S., if one party fails to honor the agreement, the OCC (U.S. Office of the Comptroller of the Currency) steps in and settles the transaction.
The listing of spot crypto options on regulated U.S. exchanges, where the OCC protects traders from counterparty risk, marks progress in the cryptocurrency markets and creates “extremely attractive opportunities” for investors, said Jeff Park, head of alpha strategy at Bitwise Invest.
Financial advisers, who control up to half of the investment flows in the $9 trillion ETF market, rely on options to protect against sharp market moves. According to a survey by The Journal of Financial Planning, more than 10% of advisors were actively using options to manage client portfolios as of 2023.
The SEC's delayed decision on Ethereum-ETF options is indicative of the regulator's continued cautious approach to cryptocurrency products. Despite the approval of bitcoin-ETF options, the SEC continues to scrutinize the potential risks and implications of introducing such instruments for Ethereum. This decision may affect the pace of development and adoption of cryptocurrency financial products in traditional markets.
The SEC has postponed the deadline for a decision on a proposed rule change that would allow the #Cboe Exchange to list options associated with several popular spot $ETH
funds. According to the document, the deadline for the regulator to issue a ruling has been moved from Oct. 19 to Dec. 3.
In August, Cboe filed a request with the SEC for permission to pour options on nine ETFs, including BlackRock's iShares Ethereum Trust ETF, Fidelity Ethereum Fund, #GRAYSCALE Ethereum Trust and Grayscale Mini Ethereum Trust.
In September, the SEC deferred consideration of a similar rule change proposal from the Nasdaq Electronic Exchange seeking permission to list options on the iShares Ethereum Trust.
On Sept. 20, the SEC allowed Nasdaq to list options related to BlackRock's Bitcoin-ETF, the iShares Bitcoin Trust (IBIT). The bitcoin-ETF options are awaiting final approval from the Commodity Futures Trading Commission (CFTC) and the Options Clearing Corporation (OCC) before listing.
According to James Seyffart, an analyst at Bloomberg Intelligence, #Bitcoin-ETF options are likely to launch in the U.S. by the first quarter of 2025. “I think an options launch is possible before the end of the year, but it's more likely to happen in the first quarter of 2025,” Seyffart said Oct. 9.
Options are contracts that give the right to buy or sell - a “call” or “put” in traders' parlance - an underlying asset at a certain price. In the U.S., if one party fails to honor the agreement, the OCC (U.S. Office of the Comptroller of the Currency) steps in and settles the transaction.
The listing of spot crypto options on regulated U.S. exchanges, where the OCC protects traders from counterparty risk, marks progress in the cryptocurrency markets and creates “extremely attractive opportunities” for investors, said Jeff Park, head of alpha strategy at Bitwise Invest.
Financial advisers, who control up to half of the investment flows in the $9 trillion ETF market, rely on options to protect against sharp market moves. According to a survey by The Journal of Financial Planning, more than 10% of advisors were actively using options to manage client portfolios as of 2023.
The SEC's delayed decision on Ethereum-ETF options is indicative of the regulator's continued cautious approach to cryptocurrency products. Despite the approval of bitcoin-ETF options, the SEC continues to scrutinize the potential risks and implications of introducing such instruments for Ethereum. This decision may affect the pace of development and adoption of cryptocurrency financial products in traditional markets.
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#Bitcoin-ETF 🚨 BIG NEWS 🚨
This Friday the 17th Nov is the date
we will know if Bitcoin spot ETF will
get approved in 2023 if not, the ETF
decision will be pushed to 2024.
So Pray for Bitcoin spot ETF in 2023.....!
This Friday the 17th Nov is the date
we will know if Bitcoin spot ETF will
get approved in 2023 if not, the ETF
decision will be pushed to 2024.
So Pray for Bitcoin spot ETF in 2023.....!
Why #Bitcoin is Going Up From Few Days...?
The selling pressure from #Bitcoin-ETF investors eased this week as #BTC prices experienced an increase in the charts. The development indicates there’s a good demand for Bitcoin ETF, as selling pressure decreased due to its sustainable price rise. Bitcoin ETF holders and miners have now started taking ‘long positions’ and that’s the reason behind BTC prices driving up.
#Write2Earn #The_Bitcoinbull
The selling pressure from #Bitcoin-ETF investors eased this week as #BTC prices experienced an increase in the charts. The development indicates there’s a good demand for Bitcoin ETF, as selling pressure decreased due to its sustainable price rise. Bitcoin ETF holders and miners have now started taking ‘long positions’ and that’s the reason behind BTC prices driving up.
#Write2Earn #The_Bitcoinbull
How bitcoin price reacted to institutional events 👇
And after that, did anyone expect growth right after the spot BTC ETFs started trading?
#btcbear #ETFBitcoin #Bitcoin-ETF $BTC
And after that, did anyone expect growth right after the spot BTC ETFs started trading?
#btcbear #ETFBitcoin #Bitcoin-ETF $BTC
I think this cryptocurrency cycle has a characteristic anatomy that is different from the previous cycle.
Technically speaking, the last cycle rose quickly and inefficiently and also then fell on the Covid-19 news, overriding all inefficiencies.
In this cycle, we have somewhat gradual and efficient growth, which provides slow but steady growth.
Based on this distinction, I dare to suggest that the discount prices are the following drawdown values from the local high:
On $BTC from -20% to -30%.
On $ALTS from -30% to -50%.
How I use this on altcoins, I show with an example:
1. $ARB set a local high at $2.425, there was a partial fix of the position.
2. After that, the price started a pullback. We have an interesting range, which I marked above: from -30 to -50.
3. We find the necessary zones in this area from -30 to -50, in this case the SSL lows are marked.
4. When this area is reached, buy the asset with the available cache, or overflow from others.
For example, in this case I bought $ARB with the cache, and also poured from $ETH and $SUI, because there was a strong divergence with these assets, due to the strong fall of $ARB .
All the best. Take advantage, spread the word.
#btcbear #Bitcoin-ETF #TradingTactics #ARB
Technically speaking, the last cycle rose quickly and inefficiently and also then fell on the Covid-19 news, overriding all inefficiencies.
In this cycle, we have somewhat gradual and efficient growth, which provides slow but steady growth.
Based on this distinction, I dare to suggest that the discount prices are the following drawdown values from the local high:
On $BTC from -20% to -30%.
On $ALTS from -30% to -50%.
How I use this on altcoins, I show with an example:
1. $ARB set a local high at $2.425, there was a partial fix of the position.
2. After that, the price started a pullback. We have an interesting range, which I marked above: from -30 to -50.
3. We find the necessary zones in this area from -30 to -50, in this case the SSL lows are marked.
4. When this area is reached, buy the asset with the available cache, or overflow from others.
For example, in this case I bought $ARB with the cache, and also poured from $ETH and $SUI, because there was a strong divergence with these assets, due to the strong fall of $ARB .
All the best. Take advantage, spread the word.
#btcbear #Bitcoin-ETF #TradingTactics #ARB
✅Grayscale has made (https://twitter.com/JSeyff/status/1727454611794006121) updates to their application for a spot bitcoin-ETF, now they want a BTC ticker. They think no one will notice the catch? 🤨
✅BlackRock also went (https://twitter.com/JSeyff/status/1727341988436209903) to a meeting with the SEC regarding the launch of a bitcoin-ETF. It doesn't give any guarantees for a positive decision, but the process is definitely moving 😎
✅U.S. Attorney's Office has changed its mind and wants to ban Changpeng Zhao from leaving the country, they say CZ may flee 🏃♂️
✅DEX KyberSwap hacked (https://twitter.com/KyberNetwork/status/1727475235342217682) for $46 million, users are advised to withdraw funds. The hacker promised (https://twitter.com/OlimpioCrypto/status/1727478326766322175) to get in touch soon and negotiate with the project team, probably wants to make a refund, keeping some of the cryptocurrency as a bonus 😳
✅Director Carl Erik Rinsch took money from Netflix for a new TV series and first spent it on stock market speculation, then paid back on Dogecoin, earning $27 million. Now the parties are deciding in court whose money it is and who owes who 🐶
#Bitcoin-ETF #BinanceSquareTalks #DeFi #Dogecoin $BTC
✅BlackRock also went (https://twitter.com/JSeyff/status/1727341988436209903) to a meeting with the SEC regarding the launch of a bitcoin-ETF. It doesn't give any guarantees for a positive decision, but the process is definitely moving 😎
✅U.S. Attorney's Office has changed its mind and wants to ban Changpeng Zhao from leaving the country, they say CZ may flee 🏃♂️
✅DEX KyberSwap hacked (https://twitter.com/KyberNetwork/status/1727475235342217682) for $46 million, users are advised to withdraw funds. The hacker promised (https://twitter.com/OlimpioCrypto/status/1727478326766322175) to get in touch soon and negotiate with the project team, probably wants to make a refund, keeping some of the cryptocurrency as a bonus 😳
✅Director Carl Erik Rinsch took money from Netflix for a new TV series and first spent it on stock market speculation, then paid back on Dogecoin, earning $27 million. Now the parties are deciding in court whose money it is and who owes who 🐶
#Bitcoin-ETF #BinanceSquareTalks #DeFi #Dogecoin $BTC
Totals of the week
Binance has a new CEO, the bitcoin-ETF is getting closer, and AI could destroy humanity. Let's summarize the results of the week:
💎 Cryptocurrencies
1️⃣ Changpeng Zhao pleaded (https://www.wsj.com/finance/currencies/binance-ceo-changpeng-zhao-step-down-plead-guilty-01f72a40) guilty and resigned, Binance will pay a $4.3 billion fine and will give US authorities access to monitor all transactions for 5 years.
The US authorities have delivered a very direct message to the crypto industry - follow our rules or get out of the market 👀
2️⃣ Grayscale and the SEC discussed (https://twitter.com/JSeyff/status/1727110861196849256) the process of converting a BTC trust into a spot ETF. BlackRock held a similar meeting with (https://twitter.com/JSeyff/status/1727341988436209903) BlackRock.
The story of the soon-to-be ETF continues to be spun, expect a continuation next week 🤑
3️⃣ Bitcoin supporter Javier Milay won (https://www.bbc.com/news/world-latin-america-67470549) Argentina's presidential election. The crypto community is waiting for El Salvador 2.0.
We get a strange deja vu with the fall of 2021: first rising to $51k on BTC adoption in El Salvador, then flying to $69k on the approval of the first futures ETF in the US. They say history doesn't repeat itself, but it rhymes well 🤨
Finance
1️⃣ Sam Altman returns (https://twitter.com/sama/status/1727206691262099616) to the CEO chair of OpenAI, after a short but extremely interesting resignation. The company's investors and staff were not in favor of the CEO change that the board of directors decided to make.
The main intrigue of this story was the rumors (https://www.reuters.com/technology/sam-altmans-ouster-openai-was-precipitated-by-letter-board-about-ai-breakthrough-2023-11-22/) about the creation of a brand new AI inside OpenAI, capable of recognizing humanity as a threat. And if it's true, and if it's an AI, tried to get Altman fired.... 🤖
2️⃣ Argentina's new President Javier Milay has confirmed (https://www.reuters.com/world/americas/argentinas-milei-says-shutting-central-bank-non-negotiable-2023-11-24/) his plans to close the Central Bank. The good news is that this will solve the problem of the Argentine peso depreciating. The bad news is that the government will lose a powerful tool for creating the appearance of its own prosperity.
There are countries that have abandoned their national currencies and Argentina will not be the first. They usually switch to USD 💸
3️⃣ Since the beginning of 2023, the share of oil and gas revenues in the Russian budget has fallen (https://www.forbes.ru/finansy/500995-dola-neftegazovyh-dohodov-rossijskogo-budzeta-opustilas-do-minimal-noj-za-16-let) to its lowest level in 16 years. Keeping the price high by cutting production, and increasing oil revenues are not always the same thing.
This is also bad news for anyone expecting the ruble to appreciate in 2024. In the current conditions of the oil market, only devaluation can save the Russian budget 🙄
#cryptonewstoday #BinanceSquareInsight #Bitcoin-ETF #BinanceCommunity #BTC🔥🔥 $BTC
💎 Cryptocurrencies
1️⃣ Changpeng Zhao pleaded (https://www.wsj.com/finance/currencies/binance-ceo-changpeng-zhao-step-down-plead-guilty-01f72a40) guilty and resigned, Binance will pay a $4.3 billion fine and will give US authorities access to monitor all transactions for 5 years.
The US authorities have delivered a very direct message to the crypto industry - follow our rules or get out of the market 👀
2️⃣ Grayscale and the SEC discussed (https://twitter.com/JSeyff/status/1727110861196849256) the process of converting a BTC trust into a spot ETF. BlackRock held a similar meeting with (https://twitter.com/JSeyff/status/1727341988436209903) BlackRock.
The story of the soon-to-be ETF continues to be spun, expect a continuation next week 🤑
3️⃣ Bitcoin supporter Javier Milay won (https://www.bbc.com/news/world-latin-america-67470549) Argentina's presidential election. The crypto community is waiting for El Salvador 2.0.
We get a strange deja vu with the fall of 2021: first rising to $51k on BTC adoption in El Salvador, then flying to $69k on the approval of the first futures ETF in the US. They say history doesn't repeat itself, but it rhymes well 🤨
Finance
1️⃣ Sam Altman returns (https://twitter.com/sama/status/1727206691262099616) to the CEO chair of OpenAI, after a short but extremely interesting resignation. The company's investors and staff were not in favor of the CEO change that the board of directors decided to make.
The main intrigue of this story was the rumors (https://www.reuters.com/technology/sam-altmans-ouster-openai-was-precipitated-by-letter-board-about-ai-breakthrough-2023-11-22/) about the creation of a brand new AI inside OpenAI, capable of recognizing humanity as a threat. And if it's true, and if it's an AI, tried to get Altman fired.... 🤖
2️⃣ Argentina's new President Javier Milay has confirmed (https://www.reuters.com/world/americas/argentinas-milei-says-shutting-central-bank-non-negotiable-2023-11-24/) his plans to close the Central Bank. The good news is that this will solve the problem of the Argentine peso depreciating. The bad news is that the government will lose a powerful tool for creating the appearance of its own prosperity.
There are countries that have abandoned their national currencies and Argentina will not be the first. They usually switch to USD 💸
3️⃣ Since the beginning of 2023, the share of oil and gas revenues in the Russian budget has fallen (https://www.forbes.ru/finansy/500995-dola-neftegazovyh-dohodov-rossijskogo-budzeta-opustilas-do-minimal-noj-za-16-let) to its lowest level in 16 years. Keeping the price high by cutting production, and increasing oil revenues are not always the same thing.
This is also bad news for anyone expecting the ruble to appreciate in 2024. In the current conditions of the oil market, only devaluation can save the Russian budget 🙄
#cryptonewstoday #BinanceSquareInsight #Bitcoin-ETF #BinanceCommunity #BTC🔥🔥 $BTC