Retail traders are chopping each other up in contracts, and BlackRock is starting to package $BTC into a version that can generate monthly yields.
BITA resonates with the high-dividend narrative: interest rates haven't dropped back to low levels, and institutions find pure crypto volatility too intense, so they're going with spot + selling calls to turn it into a "yield-generating volatile asset" story. Meanwhile, $BTC is sitting at 65813, down 2.01% over the last 24 hours, yet the funding rate is only at -0.0002%, so shorting here isn't too aggressive.
I haven't chased the short, placed a 5% long around 65300, and I'll bail if it breaks. The increase in yield-bearing ETFs shows that the crypto space is starting to learn how traditional asset management sells volatility. $BTC #BitcoinETF
BITA resonates with the high-dividend narrative: interest rates haven't dropped back to low levels, and institutions find pure crypto volatility too intense, so they're going with spot + selling calls to turn it into a "yield-generating volatile asset" story. Meanwhile, $BTC is sitting at 65813, down 2.01% over the last 24 hours, yet the funding rate is only at -0.0002%, so shorting here isn't too aggressive.
I haven't chased the short, placed a 5% long around 65300, and I'll bail if it breaks. The increase in yield-bearing ETFs shows that the crypto space is starting to learn how traditional asset management sells volatility. $BTC #BitcoinETF