Bitcoin options traders are setting their sights on a new all-time high for BTC, after the recent surge that saw the leading cryptocurrency break above $50,000 for the first time in over two years.

Ripple announced the acquisition of Standard Custody & Trust Co. on Tuesday, aiming to secure a New York trust charter and bolster its US regulatory standing.

Cryptocurrency hardware wallet manufacturer Ledger has partnered with Nasdaq-listed cryptocurrency exchange Coinbase to simplify the process of buying cryptocurrencies and transferring them to a self-custody wallet.

Top stories in the Crypto Roundup today:

• Bitcoin Options Traders Eye Record Highs
• Ripple Expands U.S. Footprint with Standard Custody & Trust Co. Acquisition
• Ledger Partners with Coinbase to Move Crypto to Self-Custody Easier

Bitcoin Options Traders Eye Record Highs

Bitcoin options traders are setting their sights on a new all-time high for BTC, after the recent surge that saw the leading cryptocurrency break above $50,000 for the first time in over two years.

Data from leading cryptocurrency options trading platform Deribit shows there was a surge in open interest for call options expiring on March 29, with strike prices of $60,000, $65,000, and even $75,000. The data suggests traders are betting on BTC hitting new highs.

The surge in demand for these higher strike price call options comes shortly after Bitcoin ended its most prolonged winning streak in a year, dipping slightly after surpassing $50,000 amid a wider market pullback caused by hotter-than-expected inflation data in the U.S.

Nonetheless, the $50,000 strike price calls remain with the most open interest by the end of March, with these out-of-the-money call options trading at significantly higher premiums than puts, highlighting a bullish outlook among traders.

Call options give investors the option, but not the obligation. buy an asset at a set price at a certain date. These out-of-the-money call options are likely being fueled by expectations surrounding Bitcoin’s upcoming halving event and anticipation of potential interest rate cuts.

Ripple Expands U.S. Footprint with Standard Custody & Trust Co. Acquisition

Ripple announced the acquisition of Standard Custody & Trust Co. on Tuesday, aiming to secure a New York trust charter and bolster its US regulatory standing.

Despite Ripple’s legal battle with the U.S. Securities and Exchange Commission (SEC), which sued the firm and two of its executives alleging securities law violations, the firm is determined to enhance its presence in the U.S.

The acquisition grants Ripple access to Standard Custody & Trust’s New York limited purpose trust charter, allowing the fintech firm to offer a broader range of in-house services, including asset tokenization for financial institutions.

Ripple is aiming to diversify beyond the payments network it’s known for, venturing into new financial products leveraging blockchain technology for its institutional clients.

The deal, which is still awaiting approval from the New York Department of Financial Services, adds cryptocurrency custody and settlement to Ripple’s offerings. It comes after Ripple acquired crypto custody firm Metaco last year.

Ledger Partners with Coinbase to Move Crypto to Self-Custody Easier

Cryptocurrency hardware wallet manufacturer Ledger has partnered with Nasdaq-listed cryptocurrency exchange Coinbase to simplify the process of buying cryptocurrencies and transferring them to a self-custody wallet.

The partnership aims to make it easier for users to manage their digital assets directly and will see Coinbase Pay get integrated not the Ledger Live application, enabling users to easily transfer their digital assets and receive purchased assets directly onto their Ledger hardware wallets.

The team behind Ledger has described the process of moving cryptocurrencies from an exchange to a self-custody wallet as a “cumbersome process that left users vulnerable to potential errors,” believing the collaboration simplifies the process.

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.