This is a valid counter-argument to my previous post. Larger ETF flows may not directly equate to higher prices. I'd be very surprised to see pods at Millennium getting the risk budget to ape into $2B worth of spot ETFs unless it was part of a delta-neutral trade.

Glad to support innovation in the crypto volatility derivative space driven by Volmex σ alongside our colleagues at B2C2

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As we've seen over the past few days, getting liquidated on perps/futures can happen very quickly without any time to close a position. Option positions can at least provide some defined downside without the risk of imploding one's account. Still think this space will be

Grateful to have passed my multi-engine IFR check-ride today! All essential training for multi-crew/multi-engine environments is now complete. Excited to touch some grass and devote some more attention back into the crypto space.

Blockchain latency plays an outsized factor in defi market making and the healthy provisioning of onchain liquidity. Alex Beaudin, with review from Samneet Chepal, study and quantify the impact of latency on market making liquidity in this article: layern.com/blog/mm-latency

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