Bitcoin ETF options marks new chapter for the asset class

This is a segment from the Forward Guidance newsletter. To read full editions, subscribe.

A new crypto-related financial tool is finally here. 

Spot bitcoin ETFs hit US exchanges in January, and more than 10 months later, investors are able to trade options on the biggest of those products (and others very soon).

As you probably know, an option is a contract representing the right to buy or sell a financial product at a certain price for a specific period of time.

Industry watchers have told Blockworks that options would lead to a more robust ecosystem around the spot ETFs, enhancing liquidity and price discovery.

CK Zheng, CIO of crypto hedge fund ZX Squared…

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US Strategic Bitcoin Reserve FOMO Is Being Horribly Oversold

Let’s get one thing out of the way – The United States already holds more bitcoin than any government in the world.

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While this data is true, you wouldn’t exactly know this from the obscene amounts of FOMO being generated by industry lobbyists on social media.

On X, BTC Inc CEO David Bailey, has been pushing for an Executive Order by President Donald Trump that would put this in place on day one, while Satoshi Action Fund founder Dennis Porter has been stoking state-level enthusiasm,…

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Solana is excited about new stablecoin infrastructure provider Perena

This is a segment from yesterday’s Lightspeed newsletter. To read full editions, subscribe.

When I talk to Solana ecosystem people, I’ll sometimes ask what new projects they’ve been hearing about. One such project that’s been catching apparent buzz is Perena, a stablecoin infrastructure protocol.

Perena is built on the premise that as stablecoins proliferate, liquidity could fragment, and stablecoins aren’t useful if they aren’t liquid. The platform offers a Solana-based stablecoin liquidity pool, and it plans to offer an asset-backed stablecoin in the future.

The project was founded by Anna Yuan, who started the Solana Foundation’s stablecoin arm during her…

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Good Riddance, Martin Gruenberg

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Martin Gruenberg, Chairman of the U.S. Federal Deposit Insurance Corp. (FDIC), announced today that he’ll be stepping down on January 19, 2025, one day before Trump takes office.

I’d like to take this opportunity to tell Mr. Gruenberg not to let the door hit him on the way out.

The FDIC chair was one of the key players behind Operation Chokepoint 2.0 (as well as the first Operation Chokepoint), which included the unlawful debanking of a…

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Stablecoins Are Not Your Friends

Stablecoins are often pitched as a stopgap method, or a friendly tool for people in the developing world who cannot handle the volatility of Bitcoin. They are framed as something complementary to Bitcoin, not in competition with it. Nothing could be further from the truth.

Bitcoiners have commonly used the meme of a trojan horse to justify many things over the years, rationalizing many shortcomings and compromises made over time as what is necessary to sneak…

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Daily US Bitcoin ETFs Net Flow Analysis (As of November 19, 2024)

On November 19, 2024, the daily net flow of U.S. Bitcoin ETFs showed a substantial overall increase, adding a total of 919 BTC across various funds. BlackRock’s Bitcoin ETF (Ticker: IBIT) led with a significant inflow, adding 978 BTC to its holdings. Fidelity’s Bitcoin ETF (Ticker: FBTC) also reported a robust increase, contributing an additional 656 BTC.

Other funds saw smaller but positive changes; Bitwise’s Bitcoin ETF (Ticker: BITB) gained 267 BTC, and ARK’s Bitcoin ETF (Ticker: ARKB) added 144 BTC to its portfolio. However, not all funds experienced growth. Grayscale’s BTC fund (Ticker: BTC) saw a notable decrease, losing 515 BTC, and Invesco Galaxy’s (Ticker: BTCO) decreased by 253 BTC. VanEck’s (Ticker: HODL) also recorded a decline, shedding 85 BTC.

Valkyrie’s (Ticker: BRRR) and Franklin Templeton’s (Ticker: EZBC) holdings remained stable with no changes reported for the day.

Overall, the total Bitcoin holdings of these ETFs amounted to 1,045,118 BTC, reflecting a net increase in market value of approximately $84.7 million. This day’s trading activity underscores a generally positive market trend with significant inflows into several major Bitcoin ETFs, contrasting with selective outflows from others.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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The AI agent invasion: How crypto is leading the charge

This is a segment from the 0xResearch newsletter. To read full editions, subscribe.

Crypto is in love with AI agents now. Firstly, AI agent sentiment is at an all-time high, as captured by Kaito.

Secondly, we’ve witnessed AI agents in the last few months integrated into memecoins (GOAT), social media influencers (Luna), venture funds (ai16z), launchpads (Virtual) and trading (Spectral).

Third, ETHGlobal hosted its largest hackathon post-Devcon (about 713 projects submitted), and the use of AI agents absolutely dominated the competition. I don’t know exactly how many teams used AI agents, but at least four judges pointed out its prevalence at the hackathon.

I should…

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Bitcoin Treasury Adoption Surges: Meet the New MicroStrategies

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MicroStrategy’s corporate Bitcoin treasury strategy is taking off. Public companies are FOMO’ing into bitcoin. It’s almost as if Trump’s pro-Bitcoin stance is giving companies the green light to stack BTC.

Yesterday alone, seven public companies announced that they have bought or plan to buy bitcoin for their treasury reserves, with one new company committing to purchasing $1 million in BTC today. Crazy, right? It has felt…

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