Bitcoin has soared to new all-time highs, approaching US$98,000, buoyed by a pro-crypto stance from the incoming Trump’s. administration and the highly anticipated launch of Bitcoin ETF options this week. Dubbed the “Trump Trade,” the trend has seen an increasing number of public companies adding Bitcoin to their balance sheets. Notably, MicroStrategy expanded its holdings by acquiring an additional 51,780 BTC for US$4.6 billion, bringing its total to 331,200 Bitcoin. Meanwhile, BlackRock’s IBIT options debuted to tremendous demand, accumulating nearly US$2 billion in notional exposure. As the trading volume of options on spot Bitcoin ETFs increases, liquidity will improve, potentially leading to a reduction in Bitcoin’s volatility.
