Greeks.live: Option data suggests that the market has already priced in a Bitcoin ETF

Greeks.live twittered: There is news in the market that the SEC will pass the Bitcoin Spot ETF application as early as next Tuesday, but there was little volatility across the major term IVs and the price. Looking at the options data, Jan12 options IV, which is strongly correlated to the ETF, fell rather than rose, and the block was almost untraded, accounting for only 2% of the day's turnover, a low level of share that is very rare. We can assume that the market has priced the ETF, and even if it succeeds, it may not result in greater returns.