I didn't really want to talk about this topic, after all, 99% of the buddies haven't read the original text, so no matter what I say, it's hard to change the majority of buddies' thoughts. If I directly say whether the launch of the #BTC spot ETF futures is positive or negative, at this stage, it is more positive.

First: It increases liquidity and reduces the volatility of BTC.

Second: It increases hedging, which can reduce the risk of price fluctuations. Some buddies may not understand this, because the current #Bitcoin spot ETF is spot trading, so-called hedging is either holding or selling. Some buddies may ask why they can't hedge on CME, which is a bit complicated.

In simple terms, IBIT options are options tools based on BTC spot ETF, allowing investors to manage risks or invest in IBIT ETF prices, suitable for investors who want to indirectly invest (hold) BTC through ETFs.

BTC futures in CME are futures contracts directly based on BTC prices, suitable for bulk traders, institutional investors, or hedge funds, especially those who want to engage in short-term speculation or hedging through leveraged trading.

Third: It reduces market manipulation.

The position and margin limit of IBIT options are based on standard rules of trading volume and number of issued shares. According to these rules, the position and margin limit can be between 25,000 and 250,000 contracts. However, the modified proposal sets the fixed position and margin limit of IBIT options to 25,000 contracts. This limit is considered "extremely conservative" and is in line with IBIT's market value, average daily trading volume, and number of issued shares.

But these are all for the current situation. With the increase in trading volume, it is very likely that the reduction in volatility will turn into an expansion, and BlackRock is very likely to reapply for larger position and margin limits.

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