Market Insights
Article by Elisha
Market attention is currently focused on the potential approval of a spot ETH ETF. While the earliest rumored approval date is July 2nd, we believe the likelihood of approval this week is low.
The Mt Gox release is also slated to happen this week. This overhang of up to 140,000 BTC should continue to weigh on markets, especially since the exact release schedule is unknown right now.
BTC continues to be supported above 60k, and ETH above 3300. However, vols remain low with BTC 1-month ATM trading at the 40 vol handle. We expected the spot-forward basis to compress with the bearish price action but it has surprisingly continued to stay within the 9 – 11% range.
Trade Idea
While the core view remains that crypto continues to range, the lower vol environment with relatively higher basis yields provides some interesting high convexity (think higher upside) plays.
The Enhanced Sharkfin is a good option to participate in a potential crypto breakout to new highs.
BTC ENHANCED SHARKFIN
Maturity: 27SEP24
Max Payout: 54% p.a.
Coupon Rate: 2% p.a. in USD
Strike: 73,000 BTC/USD
Barrier: 85,000 BTC/USD
For a deeper dive into these strategies and insights from our Chief Investment Officer, please refer to our latest quarterly commentary. To initiate a conversation, feel free to contact our sales team at [email protected].
Yesterday’s Fed meeting minutes revealed a less dovish tone, bringing the Fed’s implied victory over inflation under question. Combined with last Friday’s strong payroll data,
Chinese stocks continue to move lower today after yesterday’s disappointing press conference from state planners. The China A50 Index is down another 7% today and
QCP adopts USYC as collateral across its investment strategies, enhancing flexibility and security for clients. Singapore, 9 October 2024 – QCP, a leading wealth partner
The rally in Chinese stocks fizzled following their week-long holiday as a government briefing failed to introduce new economic stimulus. The MSCI APAC equity index
After a shaky start, Uptober seems to be back on track. BTC is as at similar levels to where it started last Monday. The Uptober
The new quarter kickstarted with some volatility in risk assets due to the escalation of the Israeli-Iranian conflict. Given the timing (one-year anniversary since the
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