ANSWER-BOX: Approximately $1.907 billion worth of Bitcoin and Ether options are set to expire today at 16:00 UTC, with Bitcoin options accounting for $1.43 billion and Ether options for $237 million. The maximum pain price for Bitcoin is $62,000, while for Ether it is $1,700, indicating potential short-term volatility around these levels.
Options Expiry and Market Impact
Deribit data shows that the Bitcoin options put/call ratio stands at 0.98, while Ether options have a put/call ratio of 1.21, reflecting a slightly bearish sentiment for Ether. The notional value of Bitcoin options is approximately $1.43 billion, and Ether options total about $237 million. Traders should watch for increased short-term volatility around the max pain prices as the contracts settle.
ETF Outflows and Institutional Moves
On July 9, U.S. spot Bitcoin ETFs saw net outflows of $95.3 million, while spot Ether ETFs recorded $52.08 million in net outflows, breaking a five-day inflow streak. Separately, an address linked to BitMEX co-founder Arthur Hayes purchased an additional 20,500 ETH from Galaxy Digital, worth about $35.92 million, continuing its recent Ether accumulation. Publicly traded companies bought 110,000 Bitcoin in Q2 2026, pushing their total holdings above 1.26 million BTC, representing over 6% of the total supply.
Regulatory Developments and New Listings
Polymarket has initiated regulatory approval to offer margin trading in the U.S. via its affiliate, Coming Home GBA LLC, by filing for a futures commission merchant license with the National Futures Association. If approved, users would need to undergo additional identity verification. Hyperliquid and Phantom submitted comments to the CFTC, arguing that current regulations are unsuitable for DeFi and that on-chain protocol developers should not register as exchanges or clearing houses. HSBC issued a blockchain-based digital native structured product in Hong Kong, processed entirely on-chain from issuance. BitGo plans to launch a quantum security tool for institutional Bitcoin wallets within weeks, focusing on UTXO wallet risk management. Binance will list GEVUSDT, VRTUSDT, SNOWUSDT, and APPUSDT USDⓈ-M perpetual futures on July 10, with up to 25x leverage and multi-asset mode support.