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Bitcoin ETF Options Break Record on Nasdaq
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As reported by Todaysgist, options trading for IBIT, BlackRock’s Bitcoin ETF (BTC), officially debuted on Nasdaq on Tuesday (19). The launch marked a fundamental step for the cryptocurrency market and had a huge impact, recording a record volume of 73,000 contracts.
With the arrival of these options, starting with BlackRock BlackRock’s iShares Bitcoin Trust ETF (IBIT), investors will be able to bet on the rise or fall of Bitcoin with regulated instruments. This offers more security and attracts a greater volume of money to operate in the market.
Nasdaq recorded 73,000 IBIT options contracts in the first 60 minutes of trading, making the contract among the 20 most active non-indexed options.
According to Nasdaq, this initial increase places IBIT among the most active non-indexed options, demonstrating strong market demand. Bloomberg’s James Seyffart reported that the final count from IBIT’s first day of trading included nearly 354,000 contracts traded.
Record of contracts
This translates to nearly $1.9 billion in notional exposure. In other words, the contracts were also among the highest volumes traded on the day.
Furthermore, the analysis revealed 289,000 calls and 65,000 puts, highlighting a call-to-put ratio of 4.4 to 1. This difference reflects strong demand for these options contracts and how they have contributed to the appreciation of BTC .
“These options were almost certainly part of the move to Bitcoin’s new all-time highs today,” Seyffart said.
The launch of Bitcoin ETF Options today has sparked optimism in the cryptocurrency market, with analysts predicting a potential BTC rally to $200,000. In fact, the price of the cryptocurrency rose 1.9% in the last 24 hours and surpassed US$93,400, renewing its all-time high.
The emergence of IBIT options means that institutional investors have more opportunities to manage and earn income. These options provide an opportunity to control exposure to the high risk inherent in the price of Bitcoin.
Additionally, an improved derivatives market will provide more liquidity and efficient pricing. And with the success of options, other Bitcoin ETFs should start to see their contracts appear on the Nasdaq.
Bitcoin ETF Options Break Record on Nasdaq
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Bitcoin ETF Options Break Record on Nasdaq
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Bitcoin ETF Options Break Record on Nasdaq
