BlackRock Files for an Options-Based Bitcoin ETF Without Holding BTC
Plus: Saylor Sets Trillion-Dollar Goal for Strategy, XRP Whale Withdrawals From Binance Shrink
Good Morning Lions,
BlackRock wants to sell Bitcoin exposure built from options and bonds without ever touching a single coin. I think that product is aimed squarely at cautious money that still won't sit through BTC drawdowns, and Saylor is chasing the same crowd from the other side with credit backed by Strategy's stack. Two very different wrappers. If PBIT gets traction, the Wall Street fight shifts to who packages Bitcoin risk best, frens.
BlackRock Files for Options-Based Bitcoin ETF
TL;DR: BlackRock filed with the SEC on Oct. 19 for the iShares Bitcoin Managed Protection ETF, which would trade under the ticker PBIT. The proposed fund would get its Bitcoin exposure through options and fixed income. It would not hold BTC directly or shares of any spot Bitcoin ETP.
Saylor Sets Trillion-Dollar Goal for Strategy
TL;DR: Michael Saylor wants Strategy to become a trillion-dollar company by using Bitcoin as collateral for digital credit, Crypto Briefing reported. Strategy reported holding 848,517 BTC as of October 18, 2026.
XRP Whale Withdrawals From Binance Shrink
TL;DR: The 90-day average of XRP outflows from Binance to large-holder wallets fell to about $49.7 million as of October 20, 2026, according to analyst Darkfost using CryptoQuant data. That marks the weakest level for the metric since October 2021.
Lido Engineer Warns of Staking Deposit Risk
TL;DR: Lido Finance engineering head Dima Gusakov warned on October 20 that a malicious node operator could front-run staking deposits during Ethereum's Glamsterdam transition, Crypto Briefing reported. The warning covers the window around the Glamsterdam fork, ahead of the upgrade going live.
Morgan Stanley Solana Trust Draws Inflows
TL;DR: Morgan Stanley's Solana Trust took in up to $1.8 million on October 8, Crypto Briefing reported. Fidelity's FSOL logged a $1.8 million outflow in October, and US spot Solana ETPs shed about $25 million in a week.
Shiba Inu Slides as Sellers Take Over
TL;DR: Shiba Inu (SHIB) extended its decline and broke below a round-number threshold, according to U.Today. The outlet's technical analysis said sellers now hold the edge on the daily, 4-hour and weekly charts.
U.Today Charts Four Altcoins Below Highs
TL;DR: U.Today's Oct. 20 technical analysis shows Starknet, Filecoin, Midnight and Near Protocol all trading below their recent October highs. Starknet's STRK stands out in the group, having lost more than half of its peak value.
XRP whales are pulling the least off Binance in five years, and that cuts against the accumulation story. If that 90-day average turns back up while XRP holds around $1.30, the big holders are buying again. 🦁 — Khal
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More crypto news, daily, at news.leodex.io. The Daily LEO · Written by the LEO Team, Edited by Khal.