Options for spot Bitcoin ETFs Coming Soon
The U.S. Securities and Exchange Commission (SEC) has acknowledged the 19b-4s requesting permission to trade options on spot Bitcoin exchange-traded funds (ETFs). This process is notably faster than the SEC’s usual pace. Options trading could receive approval as early as the end of February if the SEC opts for an expedited review. However, the absolute earliest timeframe for a decision is approximately 27 days away, while the latest decision could be expected around September 21, 2024.
Day 5 of the BTC ETFs Going Live
In a recent update, Bloomberg’s ETF strategist reflects on the fifth day of trading. The total rolling net flows for the week stand at +$1.2 billion, experiencing a slight downturn following $GBTC’s substantial -$582 million, surpassing the Nine’s +$447 million. The $GBTC’s decline has contributed to a significant bloodbath, now totaling -$2.2 billion, compared to the Nine’s robust +$3.3 billion, accompanied by a notable $6.6 billion in volume. Balchunas notes the inclusion of $FBTC, which has joined $IBIT in the Billy Club.
Total Inflows of Spot Bitcoin ETFs
Balchunas added: “After five days of existence, the Newborn Nine have about 40% of the bitcoin holdings of MicroStrategy.” Here’s a look into the total inflows of the spot Bitcoin ETFs within the initial five days of trading: BlackRock: $1.23 billion, Fidelity: $1.06 billion, Bitwise: $393 million, ARK 21Shares: $319 million, Invesco Galaxy: $194 million.
Bitcoin Price Bounces Back
After some selling pressure on Thursday, January 18, the BTC price has bounced back above $42,000 levels as of press time.
Hot Take: Options for Spot Bitcoin ETFs Could Be Approved Soon
The U.S. Securities and Exchange Commission (SEC) has acknowledged the request to trade options on spot Bitcoin ETFs. If the SEC opts for an expedited review, options trading could receive approval by the end of February. While a decision could take up to September 21, 2024, this process is faster than usual. In other news, after five days of trading, the total inflows for spot Bitcoin ETFs have reached impressive figures, with some decline due to $GBTC’s substantial loss. Despite this, the BTC price has bounced back above $42,000 levels.
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