New Options Expand Bitcoin ETF Market
Grayscale Investments has announced the launch of options trading on its spot Bitcoin ETFs, GBTC and BTC, starting Wednesday. This move follows BlackRock’s record-breaking debut of Bitcoin ETF options, which saw $1.9 billion in notional exposure traded on its first day, pushing Bitcoin to an all-time high of $94,041.Covered Call Strategy for Income
Grayscale’s Bitcoin Covered Call ETF aims to generate income by writing and buying options contracts on Bitcoin ETFs while holding Bitcoin or GBTC as collateral. Bloomberg ETF analyst Eric Balchunas praised the rapid deployment of this tool, noting the significant growth in Bitcoin ETF-related activity. Grayscale’s options debut comes after the OCC cleared Bitcoin ETF options trading, highlighting growing market demand.Market Trends and Growth
The call-to-put ratio for BlackRock’s IBIT was 4.4:1, showing strong investor bets on Bitcoin’s price rise. Grayscale’s launch comes a year after its legal victory against the SEC, which marked a turning point for crypto ETFs. With increasing investor interest in Bitcoin ETFs and their derivatives, Grayscale’s new offerings aim to deepen the market ecosystem.
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