Efforts to launch Bitcoin spot ETFs are intensifying, with Hong Kong's government officials, including the Financial Secretary, actively pushing for its establishment, as witnessed by individuals in meetings facilitated by @BitcoinMagazine. The Hong Kong Securities and Futures Commission has received its first application for a spot Bitcoin ETF. Concurrently, in the U.S., YieldMax has applied to the SEC for a Bitcoin options income strategy ETF, YBIT, to be listed on the NYSE, employing a synthetic covered call strategy based on other spot Bitcoin ETFs. Following the U.S. approval of spot-bitcoin ETFs, analysts anticipate similar approvals in Asia, with Australia and Hong Kong as frontrunners. The market has seen mixed reactions, with some large crypto investors increasing their Bitcoin holdings in anticipation of billions of dollars in inflows into ETFs, while others note net outflows and price fluctuations. Additionally, there has been a record drop in Bitcoin's yearly volatility as ETFs contribute to market stability. The Roundhill Bitcoin Covered Call Strategy ETF (YBTC) aims to generate monthly income using a covered call strategy on Bitcoin and has announced an initial distribution yield of 33%.
With the introduction of spot Bitcoin ETFs, various yield plays have emerged, including The Roundhill Bitcoin Covered Call Strategy ETF (“YBTC”). It aims to generate monthly income using a covered call strategy on Bitcoin. 👀 The initial distribution yield for YBTC is 33% 😮 https://t.co/4I4lDnv1kk
The first distribution is coming for $YBTC. The covered call #Bitcoin etf. It was announced last week. Yield is on pace to be over 30% hahaha https://t.co/FrgSokwd3Z
More bitcoin ETFs offer yield — but where is it coming from? https://t.co/XfxATiagZj
Record drop in Bitcoin yearly volatility as ETFs present further stability, analysts say https://t.co/ZWPC4zGozs
Recent market developments around BTC ETFs show mixed results, including net outflows and price fluctuations. What's next? https://t.co/hczK41Aewu
Large crypto investors boosted their $BTC stash, looking past short-term price volatility as observers anticipate billions of dollars in inflows into ETFs. reports @godbole17. https://t.co/1WgTabaJx9
NEWS: Hong Kong Securities and Futures Commission has reportedly received its first spot #Bitcoin ETF application. 📰 https://t.co/iJVTndtwvR https://t.co/6LNSGHyb1Y
The U.S. approval of spot-bitcoin ETFs has given momentum to similar approvals in Asia, with Australia and Hong Kong apparent frontrunners, analysts told CoinDesk. By @amitoj. https://t.co/lMNA2nppeL
Was in hk for the past few weeks, been talk to a lot of government officials, council members , Financial Secretary ect ect , you would be amazed at how hard HK is pushing to get the Bitcoin Spot ETF off the ground! https://t.co/oIz11zucjp
YieldMax has submitted an application to the U.S. SEC and plans to launch a Bitcoin options income strategy ETF (YBIT) listed on the New York Stock Exchange. This ETF is a synthetic covered call strategy ETF based on other spot Bitcoin ETFs. https://t.co/jIhqwNg0zc
Just wrapped up a few weeks in HK, meeting with government officials alongside @BitcoinMagazine . Really amazed at how hard HK is pushing to get Bitcoin spot ETF off the ground. Big moves happening here! https://t.co/bZaCbNs0Wt