NewsletterSpot Bitcoin ETF Options Debut on Nasdaq With Record Trading: Details
Highlights
- IBIT options debuted on Nasdaq with 73K contracts traded in the first hour, showcasing strong institutional interest.
- Nearly 354K IBIT contracts traded on launch day, creating $1.9B in notional exposure with a 4.4:1 call-to-put ratio.
- Bitcoin hit a new ATH of $93,826 as Spot Bitcoin ETF options expanded market tools and liquidity.
Spot Bitcoin ETF options officially debuted on the Nasdaq, marking a pivotal development for the cryptocurrency market. With the arrival of these options, starting with the BlackRock BlackRock’s iShares Bitcoin Trust ETF (IBIT), investors inevitably received additional instruments for hedging risks and covering exposure to Bitcoin’s fluctuations.
Nasdaq recorded 73,000 IBIT options contracts on the first 60 minutes of trading, ranking the company among the 20 most active non-index options. This milestone underscores the growing institutional interest in crypto-related financial instruments.
Spot Bitcoin ETF Options Launch on Nasdaq with Record 73K Contracts Traded
Options trading on BlackRock’s iShares Bitcoin Trust ETF (IBIT) launched on the Nasdaq, with an impressive 73,000 contracts exchanged in the first hour of activity. According to Nasdaq, this initial surge places IBIT among the most active non-index options, showcasing strong market demand.
James Seyffart from Bloomberg reported that the final tally of IBIT’s first trading day included nearly 354,000 contracts traded. This translates to almost $1.9 billion in notional exposure.
Moreover, the breakdown revealed 289,000 call options and 65,000 put options, highlighting a call-to-put ratio of 4.4:1. This level of activity reflects institutional investors’ growing appetite for regulated Bitcoin derivatives.
The Bloomberg analyst added,
“These options were almost certainly part of the move to the new Bitcoin all time highs today.”
The launch of Bitcoin ETF Options today has sparked optimism in the crypto market, with analysts anticipating a potential BTC rally to $200K.
Institutional Investors Embrace Options
The emergence of IBIT options means that institutional investors have more opportunities to manage and earn income. These options offer an opportunity to control the exposure to the high risk that is inherent to the Bitcoin price. More so, an enhanced derivatives market will provide more liquidity and efficient pricing throughout the overall crypto ecosystem.
While IBIT took center stage in its first day of trading on the Nasdaq, other Bitcoin ETFs are getting ready for options trading. Grayscale informed that contracts for its Bitcoin Trust ETF (GBTC) and Bitcoin Mini Trust ETF (BTC) will be offered from tomorrow. These additions will increase the portfolio of applications that can be used to operate with cryptocurrency assets.
Fund managers are already leveraging options like covered calls to optimize returns. Todd Sohn, an ETF strategist at Strategas, suggested that introducing Spot Bitcoin ETF options will inspire new strategies such as buffer funds.
Bitcoin Surges to All-Time High
Meanwhile, these options became available at the time when Bitcoin price broke $93,826 all-time high. This comes after the market has shown a steady upward trend in the past few weeks due to the institutional inflows. Therefore, the record breaking price reflects increased faith in the cryptocurrency’s future performance.
The latest rally in Bitcoin price also resulted in a price surge in other altcoins such as Ethereum and Solana.
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