 Bitcoin ETF liquidity set to surge after SEC options approval — QCP 
2024-10-19

Spot Bitcoin exchange-traded funds (ETFs) could see a significant liquidity boost, after the latest approval of the United States Securities and Exchange Commission (SEC).
On Oct. 18, the US SEC approved applications from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list the long-anticipated options for spot Bitcoin (BTC) exchange-traded funds (ETFs).
This will make options trading available for the 11 approved Bitcoin ETF providers.
The approval could significantly bolster Bitcoin ETF inflows, according to trading firm QCP Capital, which wrote in an Oct. 19 research note:
Continued ETF inflows could help Bitcoin’s price reach a new all-time high. ETFs accounted for about 75% of new investment in the cryptocurrency by Feb. 15 as it surpassed the $50,000 mark.
Risk-on sentiment to grow leading up to US presidential elections: QCP
The upcoming 2024 US presidential elections could significantly improve investor appetite for risk-on assets such as Bitcoin and other cryptocurrencies.
This will help risk-on assets stage a rally leading up to the election, noted QCP Capital:
Market participants are preparing for the US Election Day, which will occur in less than three weeks. Former president Donald Trump’s Polymarket odds of winning the presidential elections rose to a record high of 60.2% on Oct. 16, Cointelegraph reported.
Bitcoin needs a weekly close above $68.7K
To confirm a potential breakout from its current crab walk, Bitcoin needs to close the week above $68,700, according to popular crypto analyst Rekt Capital.
The analyst wrote in an Oct. 18 X post:

A potential breakout could be supported by this week’s positive ETF inflows. Bitcoin ETFs surpassed the record $20 billion milestone in total net flows on Oct. 17, within 10 months from launch.
In contrast, it took Gold-based ETFs nearly five years to cross this same $20 billion milestone.