BlackRock, the world’s largest asset manager, officially launched the iShares Bitcoin Trust ETF (IBIT) for options trading on the Nasdaq while Bitcoin (BTC) hit an all-time high of $94,041.
Since the Securities and Exchange Commission (SEC) approved Bitcoin ETF trading options in September, IBIT is the first crypto product to reach the final clearing stages in the last four days and was approved on November 18th. IBIT is now launching in the US. stock market.
There are 289,000 call options and 65,000 puts available on day of trading, according to Bloomberg Intelligence ETF analyst James Seyffarth in his Nov. 19 X post. This means that the bet on the price is increasing and expects the price of Bitcoin to rise.
The notional risk on the total number of 354,000 options is $1.9 billion, indicating that the level of market interest in this crypto product is relatively high. Seyffart also noted that this market movement has caused the price of Bitcoin to reach a new all-time high of $94,041 today.
He also noted that the trading options ratio was 4.4:1, indicating a strong signal from traders about their optimism about future trading.
Another Bloomberg ETF analyst, Eric Balchunas,In his post X, he compares IBIT to another product launched two decades ago, the SPDR gold Trust (GLD), which today trades at $5 billion.
One more to come after IBIT
Following the launch of IBIT trading options, the market is still awaiting approval of another Bitcoin ETF trading option. Bitwise Bitcoin ETF (BITB) was also the most anticipated Bitcoin ETF trading option launched this week.
This trading option is one of the most important milestones for the crypto industry as it will provide a new level of sophisticated trading. Traders can also ride these waves by watching institutional assets and speculating on price movements without investing heavily.
Bitcoin price hit a new all-time high of $94,041 following the launch of a trading option in the US. Trading volume rises to $85 billion and market capitalization rises to $1.8 trillion.
