By Kapil Rajyaguru
BlackRock Bitcoin ETF Options See ‘Unheard Of’ $1.9bn Traded On First Day.
BlackRock’s spot Bitcoin exchange-traded fund (ETF), the iShares Bitcoin Trust ETF (IBIT), saw nearly $2 billion in total exposure traded in options contracts, potentially pushing Bitcoin to a new high of over $94,000.
“Final tally of IBIT’s first day of options is just shy of $1.9 billion in notional exposure traded via 354,000 contracts,” Bloomberg ETF analyst James Seyffart reported on Nov. 20.
The put/call ratio for IBIT’s first day of trading was 0.225, meaning investors buying calls that bet Bitcoin would rise far outweighed those wagering on puts and those contracts betting it wouldn’t.
Trump Said to Consider Crypto Lawyer Teresa Goody Guillén to Lead SEC.
The Trump transition team is considering Teresa Goody Guillén, partner at law firm BakerHostetler and co-lead of its blockchain team, among several candidates to become the next SEC chair, industry sources said.
Goody Guillén is a seasoned securities lawyer with experience serving the SEC and opposing the agency on behalf of blockchain companies and traditional businesses.
President-elect Trump is seeking a pro-crypto non-bureaucrat to drastically overhaul the SEC with light-touch regulation, the sources said.
Michael Saylor To Pitch Microsoft Board On Bitcoin Buying Strategy.
Bitcoin bull and MicroStrategy Chairman Michael Saylor says he has agreed to give a three-minute presentation to Microsoft’s board of directors about investing in Bitcoin.
In October, Microsoft disclosed that one of its voting items for December will be about whether to conduct an assessment on investing in Bitcoin.
Microsoft’s board of directors currently consists of 12 members, including Nadella, who also serves as chairman, along with high-ranking executives from The Walt Disney Company, Citigroup, Wells Fargo, and GSK.
PayPal Taps Xoom For Cross-Border Stablecoin Payments.
PayPal has tapped Xoom to enable cross-border payments using its stablecoin, PayPal USD, the payments giant said on Nov. 19.
According to PayPal, the partnership aims to increase PYUSD access in Asian and African markets and enable cross-border transaction settlement outside of regular banking hours.
Xoom is working with Cebuana Lhuillier and Yellow Card to handle PYUSD disbursements.
Paxos Trust Company, a US-regulated crypto custodian, launched PYUSD in 2023 and backed it 1:1 with US dollars.
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