TechFlow news, on November 19, QCP Capital's latest analysis pointed out that NASDAQ has started listing options trading for BlackRock's Bitcoin spot ETF (ticker: IBIT) today. The derivatives market size of traditional assets is typically 10 to 20 times that of the underlying asset's market capitalization, and this move will bring significant opportunities to the Bitcoin derivatives market. Institutional investors may focus on yield generation from their long-term spot ETF holdings, which could lead to further compression in implied volatility.
Q3 13F filings show that MicroStrategy’s institutional holders increased from 667 to 738, with Vanguard adding nearly 16 million shares—an increase of 1,000%. Meanwhile, Goldman Sachs is planning to spin off its digital asset platform, further highlighting the integration of cryptocurrency with traditional finance. On the options front, the $100,000 strike price for December remains the highest open interest. With the spot price stabilizing above $90,000, the implied volatility butterfly spread declined by one point compared to last week, potentially laying the foundation for further Bitcoin upside.
