With bitcoin ETF options on the market, the price of bitcoin has reached a new high of up to $93,905 per piece, and the market expects bitcoin ETF options to increase the exposure of Financial Institution Group to bitcoin. Options contracts allow investors to buy or sell an asset at a specific price and at a predetermined time. Noelle Acheson, former head of market insights at Genesis, said that while the Chicago Mercantile Exchange already offers bitcoin options, bitcoin ETF spot options are a big deal for both retail investors and Financial Institution Group. Deeper onshore derivatives markets will add to the growing complexity of the market, which will boost investor confidence in bitcoin, bring a new group of investors, and enable more diverse investment and trading strategies. In addition, earlier reports that pro-cryptocurrency Howard Lutnick will be nominated by Trump as Secretary of Commerce also contributed to bitcoin's rise.