Editor’s Note: Welcome to the year of the Ox. Blockchain Bites will not publish on President’s Day, Monday, Feb. 15.
Bull market buzz
The first bitcoin exchange-traded fund in North America has been approved by Canada’s securities regulator, a move some commenters see as opening the door for the U.S. to follow. The U.S. government has been hesitant to approve a bitcoin ETF product, which tracks the price of bitcoin and is traded on a stock exchange, due to bitcoin’s supposedly shallow liquidity and risks the asset could be manipulated.
Bitcoin miners earned a record $4.06 million in just 60 minutes yesterday, according to Glassnode data. The majority of those proceeds came from the bitcoin subsidy – 6.25 BTC issued roughly every 10 minutes – though some $47,000 was collected in network fees.
Bitcoin options market sees a 12% probability of prices rising above $100,000 by the end of December, according to a mathematical metric called the Black Scholes formula. It looks at strike prices, call option prices, the actual asset and U.S. Treasurys to determine the fair price of an option’s contract.
Everybody wants in?
PayPal CEO Dan