By Kapil Rajyaguru
Spot Bitcoin ETF Options Could Start Trading Soon.
Options trading on spot bitcoin exchange-traded funds (ETFs)—a long-awaited tool that market participants believe will lure more institutional interest to crypto—could become available as soon as Tuesday, according to Nasdaq.
While there are currently eleven U.S.-based spot bitcoin ETFs on the market, only one of them, BlackRock’s iShares Bitcoin Trust (IBIT), is listed on Nasdaq and could therefore have options available.
Options are a type of derivative that enables investors to buy or sell an underlying asset, specifically IBIT, at a predetermined price within a specified timeframe.
MicroStrategy To Raise $1.75bn With 0% Interest Notes To Buy Bitcoin.
The largest corporate Bitcoin holder, MicroStrategy, plans to raise $1.75 billion from senior convertible notes at a 0% interest rate to purchase more BTC. The business intelligence firm’s 0% senior convertible note means it will not pay regular interest to bondholders.
MicroStrategy could buy another 19,065 Bitcoin at current prices if it were to spend the entire $1.75 billion on Bitcoin. BitcoinTreasuries data shows it currently holds 331,200 Bitcoin, worth over $30.3 billion, following its purchase of another $4.6 billion worth of Bitcoin on Nov. 18.
MicroStrategy has bought 142,050 Bitcoin this year, worth around $12.8 billion at current prices.
Semler Scientific Added 215 Bitcoin to Holdings, Bringing Stack to 1,273 BTC.
Semler Scientific (SMLR) has brought its bitcoin (BTC) holdings up to 1,273 tokens worth about $114 million at bitcoin’s current price just shy of $90,000.
The company Monday morning announced the acquisition of 215 bitcoins for $17.7 million over the ten days ending Nov. 15. That works out to an average price of $82,502 per BTC.
The share sales under SMLR’s at-the-market program, which have so far totaled $21.5 million, at least partially funded this purchase.
Goldman Sachs To Spin Out Crypto Platform.
Goldman Sachs is preparing to spin out its cryptocurrency platform to create a new company focused on creating and trading financial instruments on blockchain networks, Bloomberg reported on Nov. 18.
The investment bank is speaking to potential partners to add to the platform’s capabilities and develop new offerings, Matthew McDermott, Goldman’s global head of digital assets, told Bloomberg.
Tradeweb Markets, an electronic trading platform, will reportedly be among the new entity’s strategic partners. McDermott anticipates the completion of the spinout within the next 12 to 18 months, subject to regulatory approvals. Plans are reportedly still in the early stages.
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