The U.S. Securities and Exchange Commission has approved the listing of options on BlackRock’s spot Bitcoin ETF.

Bitwise Head of Alpha Strategies @dgt10011 wrote up his view on why options on Bitcoin ETFs are a major unlock.

Post went viral. Take a look — https://t.co/17U0l9YHo9

— Hunter Horsley (@HHorsley) September 22, 2024

Love this from @dgt10011 on bitcoin ETF options. In particular, the section about bitcoin's volatility smile and "negative vanna" is really important. The "banana zone" just got even more slippery. https://t.co/MrZY9cCGX0

— Matt Hougan (@Matt_Hougan) September 22, 2024

Once options trading is live, next milestone for spot btc ETFs will be in-kind creation & redemption… https://t.co/ClW0Ksb7fh

— Nate Geraci (@NateGeraci) September 20, 2024

The approval of options on Blackrock's Bitcoin ETF will bring more institutional adoption of the asset, which will lower volatility & limit explosive upside of bitcoin.

Bitcoin will be a great asset going forward.

Just don't expect the same returns as in past years.

— Anthony Pompliano 🌪 (@APompliano) September 20, 2024

1/ sorry for the long thread: I’ve had many convos around the SEC approval of IBIT options. my smart colleagues in the industry (h/t @dgt10011) have written great commentary around it…

my own views are more nuanced and tempered, but as always expect the unexpected in crypto: pic.twitter.com/bGHuNHVRI9

— Joshua Lim (@joshua_j_lim) September 23, 2024