BlackRock Bitcoin ETF Options Debut with $1.9 Billion in First-Day Trades
- BlackRocks iShrs Bitcoin Trust ETF (IBIT) sw $1.9 billion in options trdd on dbut dy.
- Anlysts highlight IBITs options dbut s unhrd of, with ovrwhlming bts on BTCs pric ris.
- Optimism surrounds Bitcoins futur, with prdictions of prics rching $100K or vn $190K in rly 2025.
BlackRocks iShrs Bitcoin Trust ETF (IBIT) options dbutd with n stounding first-dy prformnc, rcording stggring $1.9 billion in notionl xposur trdd on Novmbr 20. Anlysts dscribd th trding volum s unhrd of, with 354,000 contrcts xchnging hnds.
James Seyffart, n ETF nlyst t Bloomberg, ddd in n X post tht Th Finl tlly of IBITs first dy of options is just shy of $1.9 billion in notionl xposur trdd vi 354,000 contrcts. Th ctivity coincidd with Bitcoin rching its ll-tim high of $94,105 on Coinbs on Novmbr 19, furthr strngthning mrkt sntimnt.
Massive Debut Signals Bitcoin ETF Popularity
IBITs first-dy trding volum surpssd prvious ETF lunchs by significnt mrgin. For contxt, th ProShrs Bitcoin Strtgy ETF (BITO) hd dy-on xposur of $363 million. In contrst, IBIT rchd n unprcdntd $1.9 billion. Snior Bloomberg ETF nlyst Eric Balchunas clld th figur unhrd of for dy on, noting th bullish implictions of such strong mrkt dbut.
Options contrcts llow invstors to spcult on pric movmnts by grnting th right to trd ETF shrs t prdtrmind prics. In this cs, trdrs ovrwhlmingly bt on Bitcoins ris, vidncd by put/cll rtio of 0.225. This indicts tht cll optionsbts on pric incrssfr outnumbrd put options, which hdg ginst dclins.
Balchunas highlightd growing optimism mong trdrs, spcilly thos focusd on contrcts xpiring in month. H pointd out tht ths bts rflct confidnc in BTCs potntil to doubl in vlu within th nxt 30 dys. Formr CNBC Afric host Rn Nunr chod this sntimnt, xplining tht s trdrs purchs options, mrkt mkrs buy th spot ETF to hdg, lding to significnt nt buying of th ETF nd, in turn, spot BTC.
Jo Consorti, prominnt industry xcutiv, rmrkd tht listing options on spot BTC ETFs opns th doors to th lrgst nd dpst liquidity pools on th plnt. This mrkd significnt milston for BTCs intgrtion into minstrm finncil mrkts.
Bitcoins Path to $100K and Beyond
As optimism builds in th mrkt, prdictions bout Bitcoins futur hv bcom incrsingly bold. Crypto Yppr blivs the cryptocurrency is rdy for its nxt upwrd mov. Similrly, Jo Consorti prdicts tht it could clos th yr surpssing $100,000.
Adding to this, th Bitcoin Archiv hs pointd out similritis to pst Novmbr trnds, noting, Bitcoin strting to look lot lik Novmbr lst yr. If this rpts w could s $190,000 rly 2025, hinting t potntilly xplosiv trjctory hd.
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Read more: https://www.tronweekly.com/blackrock-bitcoin-etf-options-hit-1-9b-on-debut/
Text source: TronWeekly
