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BlackRock supports US strategic Bitcoin reserve amid rumors of executive order

Porter also revealed that state governments are rushing to pass legislation establishing their own Strategic Bitcoin Reserves before Trump signs an executive order.

CryptoSlate

Nov 20

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Happy Wednesday!

In today's crypto landscape, significant developments are shaping the market. BlackRock is reportedly backing a U.S. strategic Bitcoin reserve as state governments scramble to establish their own reserves ahead of a potential executive order from Trump. Meanwhile, the launch of IBIT options has seen impressive trading volumes, with $446 million in the opening hours and reaching $1.6 billion by midday, predominantly driven by bullish call orders. Additionally, Grayscale has introduced updated covered call ETFs for Bitcoin and Ethereum, aiming to deliver stable returns through strategic option contracts. Stay tuned for more insights on these pivotal movements in the cryptocurrency sector.

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The global crypto market cap is $3.11 trillion, with a 24-hour volume of $181.16 billion. The price of Bitcoin is $94,854.01, and BTC market dominance is 60.0%. The price of Ethereum is $3,133.92, and ETH market dominance is 12.1%. The best-performing sector is Transportation, which gained 5%. The Crypto Fear & Greed Index is currently Greed (83).