Blockchain Bites: Canada Approves Bitcoin ETF, Options Markets Not Pricing for $100K BTC – Yahoo Finance

Blockchain Bites: Canada Approves Bitcoin ETF, Options Markets Not Pricing for $100K BTC – Yahoo Finance

Editor’s Note: Welcome to the year of the Ox. Blockchain Bites will not publish on President’s Day, Monday, Feb. 15.

Three stories

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. 

Related: Deutsche Bank Quietly Plans to Offer Crypto Custody, Prime Brokerage

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.

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