The spot Bitcoin exchange-traded funds (ETFs) that started trading earlier this month now collectively hold 95,000 BTC after just six full trading days, with their assets under management (AUM) now nearing $4 billion.

The U.S. Securities and Exchange Commission (SEC) has acknowledged proposals from Nasdaq and Cboe to initiate option trading on Bitcoin ETFs, reflecting growing interest in cryptocurrency-based financial products.

Brazil’s leading stock exchange B3 is set to introduce night trading sessions later this year, in a significant step that will include Bitcoin ETFs and futures contracts on Ibovespa, the country’s flagship stock market index.

Top stories in the Crypto Roundup today:

• Spot Bitcoin ETFs See AUM Rise to Near $4 Billion
• Nasdaq and Cboe Seek SEC Approval for Options Trading on Bitcoin Funds
• Brazil’s Leading Exchange to Launch Night Trading Sessions for Bitcoin ETFs and Ibovespa Futures
• Stablecoins Witness Fourth Consecutive Month of Growth

Spot Bitcoin ETFs See AUM Rise to Near $4 Billion

The spot Bitcoin exchange-traded funds (ETFs) that started trading earlier this month now collectively hold 95,000 BTC after just six full trading days, with their assets under management (AUM) now nearing $4 billion.

Market data shows that these ETFs have drawn in more capital than the outflows experienced by the Grayscale Bitcoin Trust (GBTC), which saw a $2.8 billion reduction in AUM.

Leading the pack are Fidelity’s FBTC and BlackRock's iShares Bitcoin Trust (IBIT), with FBTC seeing a slight edge in inflows, and IBIT boasting a higher AUM of $1.4 billion, compared to Fidelity’s nearly $1.3 billion.

Invesco’s spot Bitcoin ETF ranks third, drawing in $63 million in inflows on January 19, while its assets under management sit below the $200 million mark. VanEck’s ETF also saw its highest inflow on the same day, pushing its total AUM over $100 million

Nasdaq and Cboe Seek SEC Approval for Options Trading on Bitcoin Funds

The U.S. Securities and Exchange Commission (SEC) has acknowledged proposals from Nasdaq and Cboe to initiate option trading on Bitcoin ETFs, reflecting growing interest in cryptocurrency-based financial products.

Nasdaq has filed for a rule change with the regulator to allow the listing and trading of options on BlackRock’s iShares Bitcoin Trust, while Cboe has set its sights on trading options on exchange-traded products (ETPs) that hold Bitcoin. The firm launched six of the 10 BTC ETFs the SEC approved.

Cboe executive vice president Catherine Clay has said the options on Bitcoin funds were the “next logical step” as these will offer added flexibility and risk management features.

According to Nasdaq's filing, these options would bring cost efficiencies and enhanced hedging strategies. Options are derivatives that provide the right, but not the obligation, to buy or sell an asset at a set price at a predetermined time.

The public will have 21 days to comment on these proposals once they are published in the Federal Register.

Brazil’s Leading Exchange to Launch Night Trading Sessions for Bitcoin ETFs and Ibovespa Futures

Brazil’s leading stock exchange B3 is set to introduce night trading sessions later this year, in a significant step that will include Bitcoin ETFs and futures contracts on Ibovespa, the country’s flagship stock market index.

Trading hours are set to be extended until 9:45 PM local time in response to growing demand from individual investors for more flexible trading times. B3’s President Gilson Finkelsztain explained there has been “a certain pent-up demand for such an operation.”

Finkelsztain added that this is a test that “increases cost, increases risk” and that the exchange needs to test “whether it will be good or bad for liquidity.”

Brazil has been at the forefront of cryptocurrency adoption, and is currently home to the most cryptocurrency funds in the Americas, having approved its first cryptocurrency ETF back in 2021.

Stablecoins Witness Fourth Consecutive Month of Growth

The stablecoin market has experienced remarkable growth as of January 16th, with its total market capitalization rising 2.45% to hit $134 billion. This marks the highest value recorded since February 2023 and represents the fourth straight month of growth.

Stablecoin trading volumes have seen a significant boost, jumping 27.6% to $995 billion in December, the highest monthly figure for 2023. Trading volumes on centralized exchanges (CEXs) are on track to exceed this in January, having already hit $579 billion midway through the month.

Dig deeper into the stablecoin sector through CCData’s latest Stablecoins & CBDCs report.

State of the Crypto by Top Tier Exchange Volume

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