Bitcoin has surged toward $100,000, driving the crypto market near $3 trillion, fueled by Bitcoin predictions from Donald Trump and Elon Musk.
In recent weeks, Bitcoin has reemerged in the public eye as U.S. president Donald Trump and Elon Musk continue to make significant predictions regarding its price.
Bitcoin Prediction in Crypto Market
For the first time since 2021, the combined crypto market has rebounded to approximately $3 trillion as a result of the bitcoin price’s ascent to $100,000 per bitcoin, amid rumors that the United States may be outpaced by nation-state bitcoin adoption.
The bitcoin price is currently braced for a significant U.S. spot bitcoin exchange-traded fund (ETF) earthquake as a senior Federal Reserve official abruptly reverses his stance on bitcoin.
After the Commodity Futures Trading Commission (CFTC) issued an advisory notice, Bitcoin spot ETFs, which have ascended to become some of the fastest-growing ETFs of all time following their January debut led by BlackRock’s $42 billion bitcoin fund, may be about to be approved for options trading.
“[I]n light of relevant precedents in the courts, it is substantially likely these spot commodity ETF shares would be held to be securities,” a CFTC spokesperson wrote. “Therefore, [the Division of Clearing and Risk’s] DCR position is the listing of these shares on [Security and Exchange Commission] SEC-registered national securities exchanges does not implicate the CFTC’s jurisdiction, and therefore, the clearing of these options by OCC would be undertaken in its capacity as a registered clearing agency subject to SEC oversight.”
In September, the U.S. SEC approved Bitcoin spot ETF options, with the CFTC notice serving as the “second hurdle” required to be overcome, according to Bloomberg Intelligence analyst Eric Balchunas.
As institutions and market regulators become more accustomed to the technology, the trading of options for the fleet of a dozen U.S. spot bitcoin ETFs is anticipated to “attract more liquidity, which will in turn attract more big fish” to the market.
Balchunas informed X that the CFTC had recently published a notice that would facilitate the listing of spot bitcoin ETF options. He also predicted that the options would be listed “in the near future.”
