Citing a lack of clarity on how major economies are regulating crypto assets, government officials have remained cautious of declaring cryptocurrencies as legal tender, instead choosing to wait and see how other countries are moving forward.
A range of option strategies, from covered calls to protective puts, are available for a variety of Bitcoin-tracking funds
Bitcoin Crosses $100,000: Bitcoin has stormed past the $100,000 mark, marking a historic milestone fuelled by a mix of political and economic developments in the United States. The cryptocurrency‘s recent rally comes amid growing institutional confidence and a pro-crypto policy shift under the leadership of US President-Elect Donald Trump.
Despite the rally, Bitcoin remains about 5% below its all-time high of around $73,700, reached in early March this year.
The company in a memo told its 15,000-strong adviser base they can offer some clients to buy either BlackRock Inc.’s iShares Bitcoin Trust (ticker IBIT) or the Fidelity Wise Origin Bitcoin Fund (FBTC), the person said.
“The iShares Spot Bitcoin ETF application is still under review by the SEC,” a spokesperson said. Bitcoin was up about 3% to $28,000 as of 10:12 a.m. in New York on Monday after briefly jumping to $30,000.
Bitcoin ETFs can be a great way for risk-averse investors to participate in the largest cryptocurrency through traditional markets.