“The risk of being exposed or unhedged is very high, so BITO will provide decent cover, although it is not a perfect hedge as there is slippage and a decent cost to buy BITO,” Kssis added. “But many APs won’t have a choice (since they can’t buy bitcoin or are not allowed to touch them by their compliance dept) or even won’t have the infrastructure, i.e., custodian, or back office system to reconcile their positions.”
Bitcoin (BTC) Price Wavers Around $63K Awaiting Hong Kong Spot Crypto ETF Debut
BTC drifted lower during the day from $64,000 over the weekend, slipping briefly to $61,800 before recovering to just near...