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BlackRock Bitcoin ETF Receives SEC Approval For Options Trading
Published
2 months agoon
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adminBlackRock’s spot Bitcoin ETF has received approval from the United States Securities and Exchange Commission (SEC) to allow options trading, marking a milestone in the evolving landscape of cryptocurrency investment products.
The approval permits Nasdaq to list and trade options for the iShares Bitcoin Trust under the ticker symbol IBIT, adding a new dimension to the Bitcoin ETF market that has rapidly grown since its launch in January 2024.
SEC Approves Options for BlackRock’s iShares Bitcoin Trust
The SEC’s decision, announced on September 20, allows options trading for BlackRock’s iShares Bitcoin Trust on Nasdaq. According to the official notice, these options will be traded in the same manner as other ETF options and will follow the same regulatory standards. Options contracts grant investors the right, but not the obligation, to buy or sell the underlying asset at a specified price within a set time frame.
INTEL: SEC APPROVES OPTIONS ON BLACKROCK SPOT BITCOIN ETF
NOTICE OF FILING OF AMENDMENT NOS. 4 AND 5 AND ORDER GRANTING ACCELERATED APPROVAL OF A PROPOSED RULE CHANGE, AS MODIFIED BY AMENDMENT NOS. 1, 4, AND 5, TO PERMIT THE LISTING AND TRADING OF OPTIONS ON THE ISHARES BITCOIN…
— Solid Intel 📡 (@solidintel_x) September 20, 2024
The SEC specified that options on IBIT will be physically settled with American-style exercise, meaning they can be exercised at any time before expiration. To meet the listing requirements, the underlying security must be widely held, actively traded, and characterized by a substantial number of outstanding shares. These stipulations align with the SEC’s standards for ensuring a robust and orderly market.
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Bitcoin Price Tops $90K As Analysts Predict Cycle Peak In 200 Days
Published
3 hours agoon
November 13, 2024By
adminBitcoin price recently achieved a new milestone, briefly trading above $90,000 following a period of sustained growth. This rally, attributed partly to renewed optimism within the crypto community, has marked a record-breaking period for the cryptocurrency. Analysts at Copper.co suggest that this upward trajectory could continue for the next several months, pointing to historical cycles that may see Bitcoin peaking within roughly 200 days.
Bitcoin Price Hits New High Above $90K: Analysts Eyeing Peak in 200 Days
Bitcoin price surged past the $90,000 mark, riding a wave of optimism in the crypto market following recent U.S. election results. Trading volumes have soared, contributing to this new all-time high, as investors anticipate pro-crypto regulatory shifts in the coming months. Analysts at Copper.co project that BTC market cycle is far from complete and expect the current rally could lead to a peak within 200 days, or around mid-2025.
The recent surge aligns with historical trends, where Bitcoin market cycles, averaging approximately 756 days, culminate in peak valuations before entering a correction phase. According to Copper.co’s Head of Research, Fadi Aboualfa, Bitcoin has entered day 554 of this cycle, potentially signaling a sustained upward trajectory into 2025.
Based on the analysis, the outlook of past market cycles suggests that Bitcoin price could continue to climb. This opinion is shared among many enthusiasts in the crypto market. Most recently, Andrew Tate shared insights that BTC bull run is yet to begin.
Potential Recession Timing Adds Uncertainty
Copper.co’s report also considers the potential for a U.S. economic recession in mid-2025, which may coincide with Bitcoin’s anticipated cycle peak. A JPMorgan analysis places a 45% probability on a recession occurring in the latter half of next year. This potential downturn could impact demand and price stability for digital assets.
However, Bitcoin’s resilience during past recessions provides some optimism, as investors view the crypto as a hedge against traditional market volatility.
While a recession could shift sentiment, some analysts argue that Bitcoin may benefit from economic uncertainty. Analysts note that in previous economic downturns, the asset has experienced an influx of institutional interest, positioning it as a store of value.
In this recent cycle and crypto market rally, BTC utility has attracted many institutions and countries. According to a recent report, Bhutan’s government Bitcoin holdings have reached $1 billion. This cycle, therefore, could see similar investment flows, given the strong infrastructure around Bitcoin price and crypto investment.
Realized and Implied Volatility Suggest Continued Turbulence
As Bitcoin’s valuation reaches historic highs, its market volatility remains notable. The report highlights that Bitcoin’s realized volatility currently sits at 50%, suggesting substantial fluctuations in price movement. Such levels of volatility indicate that Bitcoin’s trajectory may remain turbulent, even amid positive growth prospects. The crypto market could experience swings as investors react to volatile market conditions.
Adding to the volatility, technical indicators suggest that Bitcoin price may have more room to grow. Copper.co points to Bitcoin’s Relative Strength Index (RSI), currently at 60, which is lower than previous bull market peaks. This indicator, when measured against past cycles, implies that Bitcoin has not yet reached an overbought status. These indicators align with the recent BTC price prediction of reaching the $100 mark.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Donald Trump Appoints Elon Musk & Ramaswamy To Lead D.O.G.E, Dogecoin Price To $2.4?
Published
6 hours agoon
November 13, 2024By
adminUS President Donald Trump revealed that Elon Musk and Vivek Ramaswamy will lead a newly created Department of Government Efficiency, or “DOGE.” This initiative, aimed at streamlining government operations and reducing bureaucratic waste, aligns with Trump’s “Save America” movement and promises to reshape federal spending and regulatory practices.
Following the announcement, Dogecoin (DOGE) experienced a surge in trading, with analysts predicting further growth in its value, fueled by renewed interest in the cryptocurrency market.
Donald Trump Appoints Elon Musk & Ramaswamy To Lead D.O.G.E
According to Donald Trump’s statement, the Department of Government Efficiency (DOGE) will focus on cutting down unnecessary regulations, reducing wasteful expenditures, and restructuring federal agencies.
Elon Musk and Ramaswamy will lead this effort from outside the federal government, partnering with the White House and the Office of Management and Budget (OMB) to drive large-scale reform. Trump described the project as potentially “The Manhattan Project” of modern government, emphasizing the ambitious nature of the initiative.
The DOGE initiative has been positioned as a patriotic mission to improve government accountability and efficiency, making the federal system more responsive to “We the People.” Trump expressed confidence that this effort would create a “leaner” and “more accountable” government by July 4, 2026, in time for the United States’ 250th anniversary. Musk echoed the sentiment, suggesting that the changes would send “shockwaves through the system.”
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Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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Shibarium Crosses 500 Mln Transaction Milestone, SHIB Reacts
Published
10 hours agoon
November 12, 2024By
adminShibarium, the Ethereum-based Layer-2 scaling solution backed by the Shiba Inu (SHIB) ecosystem has recorded a huge mainnet milestone. According to data from Shibarium scan, the total transactions processed on the platform has crossed the 500 million milestone. As of writing, the total transaction is pegged at 500,623,178.
Shibarium and the Obvious Growth Catalyst
The Shiba Inu-backed layer-2 scaling solution launched in August 2023. For a protocol with a largely rocky start, the new milestone has sparked series of debates on X. Shibarium got a major boost less than a month ago when Shiboshi-linked NFT update triggered enhanced ecosystem adoption.
With the NFT bridge feature on the mainnet, transaction count jumped to millions per day from a few thousands. At the time of writing, the daily transaction count comes in at 4.69 million. Despite this figure, the protocol records at least 2,227 transctions in hours. The new milestone has triggered a comment from Kaal Dhairya, one of the ecosystem’s lead developers.
PAW-some news! 🐾 Shibarium just fetched 500M transactions—proof of pack is unstoppable! 🚀 Here’s to more tail-wagging milestones ahead. #ShibArmy #Shibarium https://t.co/1gBzGyY85E
— Kaal (@kaaldhairya) November 12, 2024
Per the Shibariumscan data, the protocol now have a total block of 7,849,660 with wallet adresses coming in at 1,889,496. With the consistent growth, the protocol hopes to match with some of its peers like Base and Optimism soon.
Shiba Inu Reacts, Will This Boost Market Value?
The memecoin has reacted to the update within the ecosystem as it underscore the relative growth overall. At the time of writing, SHIB price was changing hands for $0.0000264, down by 3.39% in 24 hours. Within this period, the token has traded within a low price of $0.00002457 and a high of $0.0000303.
While the token ought to print a rally, SHIB has recorded an extreme growth trend amid the boom in the price of Bitcoin. In the past week, the token has retained a more than 48% rally overall. With the token’s price largely linked to the broader market trend, it’s recovery might come faster than projected.
Meanwhile, lead developer Shytoshi Kusama has set his sight on his SH.I.B proposal to create the Silicon Valley destination for crypto. He recently pitched this idea to Elon Musk in a bid to get the Donald Trump administration to consider the prospects.
Godfrey Benjamin
Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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