Odaily星球日报讯 美国证券交易委员会上周五批准了贝莱德上市和交易其现货比特币 ETF 期权的提议，分析师表示，美国证券交易委员会批准现货比特币 ETF 期权，标志着机构投资者参与比特币方式的重大转变，可能对标的资产的需求产生影响。（TheBlock）

分析师：比特币现货ETF期权可能会影响标的资产的需求

Odaily Odaily News: The U.S. Securities and Exchange Commission approved BlackRock&#39;s proposal to list and trade its spot Bitcoin ETF options last Friday. Analysts said that the U.S. Securities and Exchange Commission&#39;s approval of spot Bitcoin ETF options marks a major shift in the way institutional investors participate in Bitcoin, which may have an impact on the demand for the underlying asset. (TheBlock)

Analyst: Bitcoin spot ETF options may affect demand for underlying assets

The Federal Reserve lowered interest rates by 50 basis points for the first time in more than four years, and the FedWatch tool at the Chicago Mercantile Exchange shows that traders expect the Federal Reserve to lower interest rates again at its next meeting on November 7, with the current betting trend being another 50 basis point cut. Analysts believe that the breakthrough of Bitcoin above $65,000 this Thursday may have been catalyzed by the domestic economic stimulus policy, and as Bitcoin prices have risen, there has been renewed interest in the recently sluggish US spot Bitcoin ETF. According to Farside Investors data, BlackRock's iShares Bitcoin Trust (IBIT) saw huge inflows on Wednesday, with investors injecting nearly $185 million in new capital into the fund, compared to $98.9 million the previous day, while in the previous few weeks, with Bitcoin prices performing poorly, inflows were flat or even negative.

Analysis: BTC breaks through $65,000 to stimulate U.S. spot Bitcoin ETF investment interest

Odaily News: With the Federal Reserve's 50-basis-point rate cut, Bit has risen 5.4% in the past 7 days. However, industry analysts remain divided on Bit's development direction in the coming weeks of the fourth quarter. 

MV Global partner Tom Dunleavy believes the current macroeconomic environment is the "perfect setup" for risk assets like cryptocurrencies. He pointed out that most signals from the US economy are neutral to expansionary, rather than recessionary.

Dunleavy also emphasized that the market has already digested the impact of the expected 250-basis-point rate cut in the US. He added that aggressive rate cuts, combined with an expected 18% earnings growth over the next 12 months, is a "never-before-seen" phenomenon.

Meanwhile, VanEck's digital asset head Matthew Sigel said the recent short-term spending bill in the US Congress (which proposes to keep the federal government running in the fourth quarter) will be "favorable" for Bit, as it directly implies a "lack of meaningful fiscal reform" in the next three months.

He added that if the bill is passed, it may reduce "downside volatility".

Bitget Research's chief analyst Ryan Lee also stated that the improvement in the macroeconomic environment, MicroStrategy's continued accumulation, and the inflow of funds into spot Bit ETFs are bullish signs.

However, he also warned that the Fed's rate cuts have led to high market volatility, and any pessimistic macroeconomic developments could push the Bit price back to the $58,000 level.

In a recent report, Nansen's chief analyst Aurelie Bathere said positive US economic data indicates resilient growth, driving the current rebound in risk assets. However, she pointed out that there is still room for further downside.

She explained that this vulnerability stems from the expensive valuation of US stocks, with their forward price-to-earnings ratio exceeding 20 times.

Analysis: The current macroeconomic environment, the US short-term spending bill and other factors are favorable to risk assets such as Bitcoin

According to market information, the U.S. Securities and Exchange Commission (SEC) has filed a lawsuit against Merrill Lynch, accusing it of profiting from market volatility in client transactions. According to previous related news, Merrill Lynch's brokerage department is providing Bitcoin spot ETF trading services to wealth management clients, and the bank is first providing the approved ETF products to some wealth management clients with brokerage accounts, as requested by clients.