PANews reported on November 20 that Singapore's crypto investment institution QCP Capital published an article stating that cryptocurrencies may eventually become a key part of the macroeconomy. BlackRock's Bitcoin ETF (IBIT) options market made a strong debut, with 73,000 contracts traded in the first hour on Tuesday, and the ratio of call options to put options was 4.4:1. This activity has put IBIT among the top 20 most active non-index options, highlighting the growing confidence of institutions in Bitcoin as a mainstream asset class. This market reaction may attract new investor groups and promote the implementation of diversified trading strategies, which will help reduce volatility and downside risks and consolidate Bitcoin's position in the mainstream market. Other Bitcoin spot ETFs, such as Grayscale Bitcoin Trust (GBTC) and Fidelity Smart Origin Bitcoin Fund (FBTC), are also expected to launch options products soon.
On the other hand, Trump's cabinet selections are attracting a lot of attention, especially crypto-friendly figures such as Musk, who was selected as the Secretary of the newly formed Department of Government Efficiency (DOGE), and Pete Hegseth, who was nominated as Secretary of Defense. Hegseth is a strong advocate of the decentralized value of Bitcoin and has even promised to hold rather than sell his Bitcoin holdings. With the Republicans securing control of the Senate, most nominees are expected to be confirmed smoothly. Trump plans to finalize his cabinet selections with only a week left before Thanksgiving. These selections show the alignment between the new administration and the growing influence of digital assets in the policy and financial fields.
