QCP: BlackRock IBIT option trading goes live today, MicroStrategy institutional holders increase significantly

The latest QCP report indicates that Nasdaq will begin listing options trading for BlackRock's Bit coin spot ETF (IBIT) today. This development is expected to attract a new group of institutional investors who may focus on generating yield from long-term spot ETF positions, potentially further compressing implied volatility. This trend is similar to the way institutions have indirectly invested in Bit coin through MicroStrategy. The filing shows that MicroStrategy's institutional holders have surged from 667 to 738, with Vanguard increasing its stake by nearly 16 million shares, a 1000% increase. Meanwhile, Goldman Sachs also plans to spin off its digital asset platform, further highlighting the growing integration of crypto assets and traditional finance. Additionally, the $100,000 Bit coin option strike price for December remains the most concentrated level of open interest. The spot price is currently stabilizing above $90,000, as evidenced by the 1-point decline in the implied volatility skew from last week. This may lay the groundwork for further Bit coin appreciation.