The U.S.  Securities and Exchange Commission (SEC) has postponed its decision on whether to approve spot Ether exchange-traded funds (ETFs) from leading asset managers BlackRock and Fidelity.

Deribit's Bitcoin volatility index (DVOL), a key indicator of market expectations for price swings in the next 30 days, has risen sharply to a 16-month high, signaling turbulence ahead.

Nasdaq-listed business intelligence firm MicroStrategy, the largest corporate holder of Bitcoin, has announced plans to acquire more Bitcoin by selling $600 million in convertible senior notes.

Top stories in the Crypto Roundup today:

• SEC Delays Decision on Spot Ether ETFs from BlackRock and Fidelity
• Bitcoin Volatility Index Surges to 16-Month High As Price Nears New Record
• MicroStrategy to Sell $600 Million in Notes to Fund More Bitcoin Purchases
• U.S. Bitcoin ETF Inflows Maintain Momentum In February

SEC Delays Decision on Spot Ether ETFs from BlackRock and Fidelity

The U.S.  Securities and Exchange Commission (SEC) has postponed its decision on whether to approve spot Ether exchange-traded funds (ETFs) from leading asset managers BlackRock and Fidelity.

The SEC announced the delays in separate filings on March 4, marking the second time it has pushed back a decision on BlackRock’s iShares Ethereum Trust and Fidelity’s Ethereum Fund. The first delay came in January, shortly after the SEC greenlighted several spot Bitcoin ETFs.

The regulator can postpone a decision on an ETF application up to three times before making a final ruling. The SEC's continued hesitation has been widely anticipated, with market analysts predicting that a decision on spot Ether ETFs may not arrive until May.

Bitcoin Volatility Index Surges to 16-Month High As Price Nears New Record

Deribit's Bitcoin volatility index (DVOL), a key indicator of market expectations for price swings in the next 30 days, has risen sharply to a 16-month high, signaling turbulence ahead.

The 30-day implied volatility index has climbed from an annualized 41% to 76% in a month, a level that hasn’t been seen since November 2022. Higher implied volatility translates into higher options prices.

The recent DVOL surge seems to have spurred renewed interest in specific strategies, such as call options writing, which allows holders to earn income on their assets.

Deribit, a leading crypto options exchange, has seen a surge in activity as Bitcoin prices have risen this year, with the combined value of outstanding futures and options contracts on the exchange reaching a record high of $32 billion, with options contracts making up nearly $30 billion.

The platform has seen significant interest in call options with strike prices as high as $200,000, reflecting bullish sentiment among some market experts who predict Bitcoin could reach that level by September 2024.

MicroStrategy to Sell $600 Million in Notes to Fund More Bitcoin Purchases

Nasdaq-listed business intelligence firm MicroStrategy, the largest corporate holder of Bitcoin, has announced plans to acquire more Bitcoin by selling $600 million in convertible senior notes.

The move comes as the value of the company's substantial Bitcoin holdings, which it has been accumulating since 2020, approaches $13 billion. The proposed private offering aligns with Bitcoin's recent price rise and is set to further help MicroStrategy expand its 193,000 BTC stash.

Market analysts attribute Bitcoin's recent rally to increased demand stemming from spot Bitcoin ETFs and heightened activity within the crypto derivatives market.

The convertible senior notes, due in 2030, will be offered exclusively to qualified institutional investors. MicroStrategy also plans on granting “ the initial purchasers of the notes an option to purchase, within a 13-day period beginning on, and including, the date on which the notes are first issued, up to an additional $90 million aggregate principal amount of the notes.”

U.S. Bitcoin ETF Inflows Maintain Momentum In February

Spot Bitcoin ETFs in the U.S. saw a huge boost in February, attracting $6.03 billion in inflows by the 26th. This coincided with a sharp drop in Grayscale’s outflows, which reached a record low of $22.4 million after rising in January. These inflows were fueled by BTC’s price surge, which reached a high of $59,502, as of February 28th.

BlackRock’s iShares and Fidelity’s FBTC were among the top 10 ETFs by inflows, according to Bloomberg data, with inflows of $6.02 billion and $4.23 billion, respectively.

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