According to Zhitong Finance APP, Alex Thorn, the research director at cryptocurrency financial services institution Galaxy Digital, stated that with relevant options for the Blackrock iShares bitcoin ETF (IBIT.US), which has an asset scale of up to 43 billion dollars, officially entering the US stock market, it is likely to significantly reduce bitcoin's volatility and expand the investor base of the original bitcoin entity. Cryptos like bitcoin have long been tagged with "high volatility," which is also the important reason why Wall Street investment institutions are reluctant to hold physical cryptos like bitcoin directly, and instead choose to allocate to bitcoin ETFs and ethereum ETFs, which have relatively lower volatility.

However, with the official launch of options for the world's largest asset scale bitcoin ETF—the Blackrock iShares bitcoin ETF—bitcoin is expected to shake off the long-held high-risk negative label of "high volatility" and gradually align with the "low volatility" trading attributes of traditional major assets (such as gold, US bonds, and commodities), thereby attracting more investors to participate in investing in bitcoin or other cryptos.

According to reports, the Nasdaq Stock Exchange began offering options trading for the iShares bitcoin ETF on Tuesday. In 2024 so far, the value of the largest market cap cryptocurrency, bitcoin, has doubled, currently hovering above 0.09 million dollars, near its historical peak. On Tuesday, the price of bitcoin significantly rebounded under the bullish frenzy following the launch of ETF options, breaking through 94,000 dollars to set a new historical high, surpassing the previous high set on November 13.

"As time goes on, the bitcoin ETF is expected to be more widely held, volatility will significantly decrease, and options will help suppress volatility. As the downward trend in volatility takes shape, people will be able to take larger position sizes," Thorn from Galaxy Digital stated in a media interview on Tuesday.

On Tuesday, Nasdaq Inc. began offering options for the iShares bitcoin ETF for the first time. Thorn stated that if volatility decreases, more investors will view bitcoin as a major asset with inherent use value, rather than just a high-risk bet. He mentioned that options strategies would enable financial institutions, such as hedge funds, to better hedge against the high volatility risks of bitcoin and increase the liquidity of bitcoin as well as bitcoin ETFs, while also influencing retail trading patterns during a bull market. He added that as bitcoin gradually approaches traditional financial assets, the cryptocurrency industry must also consider how to maintain control over its development.

Although Soane predicts that in the long run, options will help reduce the volatility of bitcoin, the volatility continues to attract some speculators to gamble on bitcoin.

The US Securities and Exchange Commission (SEC) officially approved the trading of bitcoin exchange-traded funds (i.e., bitcoin ETF) in the US stock market this January, serving as the initial catalyst for the significant surge in cryptocurrency prices this year. After the world's largest asset management institution, BlackRock Inc., successfully launched the bitcoin ETF into the market in collaboration with the nasdaq for 10 months and cleared obstacles with the Commodity Futures Trading Commission (CFTC), it ultimately successfully introduced options trading around the BlackRock iShares bitcoin ETF.

'Can the wild bitcoin continue to surge?'

In 2022, digital assets such as bitcoin suffered a catastrophe, exposing some sharp practices and fraudulent behavior, leading to significant negative events, including the collapse of Sam Bankman Fried's FTX exchange empire. However, for now, the fervent enthusiasm of market participants for Trump supporting cryptocurrencies overshadows memories of these risks.

Statistics show that the cumulative market cap of the global cryptocurrency market, including bitcoin, ethereum, and solana, has surpassed 3.2 trillion dollars. With Trump elected as the President of the USA, making a return to the White House after four years, cryptocurrency enthusiasts are collectively betting that the new US government led by Trump will imply a more friendly and relaxed regulatory expectation, which may bring new prosperity to this risk asset class. During his campaign, Trump fully embraced digital assets, stating that he aims to make the USA a 'cryptocurrency capital' and a 'bitcoin superpower'.

According to the already reached total market cap of 3.2 trillion dollars, the market cap of the cryptocurrency market last week surpassed that of Microsoft (MSFT.US), one of the seven major tech giants in the USA. In the global equity rankings, it is second only to the two 'super giants', nvidia (NVDA.US) and apple (AAPL.US), which means viewing the cryptocurrency market as a stock, its market cap only trails behind nvidia and apple, far ahead of top global listed companies such as amazon, google, meta, tesla, and Saudi Aramco.

The market cap of bitcoin currently hovers around 1.8 trillion dollars, maintaining its position as the largest cryptocurrency for a long time. The Wall Street investment institution Ned Davis Research recently upgraded bitcoin to 'long-only trades' and believes that bitcoin is expected to soar to over 0.12 million dollars next spring. The Ned Davis Research strategist team stated: 'Due to the optimistic sentiment surrounding Trump's victory, cryptos are exploding, and we believe there is almost no resistance on the road to rising bitcoin prices, at least until Trump takes office.'

Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, believes that after Trump wins the U.S. presidential election, the price of bitcoin will reach 0.125 million dollars by the end of this year and could reach 0.2 million dollars by the end of 2025. Jan Van Eck, CEO of leading asset management firm VanEck, expects bitcoin prices could eventually reach 0.3 million dollars.

Market participants indicated that cryptocurrency exchange-traded funds (like bitcoin ETFs in the U.S. stock market) have been heavily purchased by investors, which may suggest that Wall Street financial institutions are making significant buy-ins, while financial institutions typically prefer to avoid directly holding cryptos, which are riskier volatile assets.

Asia's "crypto hotspot" is benefiting from a $800 billion rebound ignited by the USA.

A record-breaking cryptocurrency rebound wave born in the USA is leaving a profound mark on Asia's cryptocurrency market, including the value of bitcoin held by Bhutan jumping to over $1 billion, and a surge in the scale of digital asset trading in south korea.

Statistics show that since Trump's victory in the US elections on November 5, the overall market cap of the cryptocurrency market has surged by over $800 billion, stimulated by his commitment to transform the USA into the global center of the industry, fostering a prosperous landscape of digital asset trading worldwide.

Multiple "crypto hotspots" in asia are being permeated by optimism, as some jurisdictions in the region are at the forefront of cryptocurrency adoption, whether for investment, hedging against weak local currency, or cheaper and faster remittances.

In Bhutan, the national sovereign investment institution Druk Holding & Investments has accumulated a certain scale of bitcoin as a reward for running computer networks that support the digital currency ledger. These so-called "Bhutan bitcoin mining operations" are powered by the abundant hydroelectricity from the Himalayan kingdom.

Research institution Arkham Intelligence has reported that since the US elections, the value of Bhutan's bitcoin reserves has increased by over $0.2 billion, reaching $1.1 billion, which is about 36% of the country's GDP. Ujjwal Deep Dahal, CEO of Druk Holding & Investments, stated that the value of these cryptocurrency assets in Bhutan cannot be confirmed, as they are crucial for the "core internal asset management and diversification strategy." Druk Holding & Investments began large-scale bitcoin mining in 2019.

In south korea, speculators tend to accept smaller-scale, higher-risk tokens, not just the absolute leaders of the market like bitcoin. According to CCData, the country's largest dedicated exchange is Upbit, whose share in global cryptos trading jumped by a full two percentage points from November 5 to November 10, reaching 4.3%. This indicates that the cryptocurrency rebound driven by Trump has attracted more south koreans into the cryptocurrency trading market.

Other ripples from the super rebound led by the usa cryptocurrency market include the doubling of the price of Cronos after the election, which is the utility token of Crypto.com, headquartered in Singapore, one of the largest digital asset exchanges. In japan, Metaplanet's stock price has risen about 60% this month, due to market optimism about its strategy of accumulating bitcoin through debt and equity financing. Last week, Tokyo-based Monex Group officially announced that its cryptocurrency exchange operator Coincheck Group plans to go public in the usa through a long-pending merger with a special purpose acquisition company, with a final plan for this to take place in December.