On November 19, local time in the U.S., options trading for the spot Bitcoin ETF launched on Nasdaq, pushing Bitcoin prices to an all-time high. BlackRock's iShares Bitcoin Trust (IBIT) is the first spot Bitcoin ETF to receive options approval, with a nominal exposure of nearly $1.90 billion on its first trading day. The first-day options trading statistics showed 354,000 contracts, including 289,000 call options and 65,000 put options, for a ratio of 4.4:1. Bloomberg analysts noted that the $1.90 billion trading volume on the first day was unprecedented. Bitcoin prices reached $94,040. Market experts anticipate that the rise of options trading will reduce Bitcoin volatility. The president of ETF Store predicts a new wave of ETF applications. Grayscale has submitted an updated prospectus for a Bitcoin covered call ETF. Bitwise and Grayscale's Bitcoin ETF options will start trading tomorrow.

Original | Odaily Planet Daily Author | jk On Tuesday, November 19, local time in the U.S., options trading for spot Bitcoin ETFs officially launched on Nasdaq, pushing Bitcoin prices to a new all-time high. BlackRock's iShares Bitcoin Trust (IBIT) is the first spot Bitcoin exchange-traded fund (ETF) to receive options approval, with a nominal exposure close to 1.90 billion dollars on its first day of trading. Prior reports indicated that this ETF received approval from the U.S. Securities and Exchange Commission for options trading on September 20. "The final statistics for the first-day options trading of $IBIT were 354,000 contracts, with nominal exposure close to 1.90 billion dollars. Of these, call options totaled 289,000 contracts, and put options totaled 65,000 contracts, with a ratio of 4.4:1. These options trades are almost certainly one of the main reasons for Bitcoin's price reaching a new high today," Bloomberg Intelligence ETF analyst James Seyffart stated on X. His colleague, analyst Eric Balchunas, noted, "The 1.90 billion dollars in first-day trading volume is unprecedented. In comparison, BITO (ProShares Bitcoin Strategy ETF, which is a Bitcoin futures ETF) had a first-day trading volume of 363 million dollars, and it has been around for four years. Moreover, the contract limit for IBIT options is set at 25,000 contracts. However, even so, 1.90 billion dollars is not considered 'massive'; for instance, the trading volume of the gold ETF (GLD) today was 5 billion dollars, but give it a few days or weeks, and there may be further growth." He also mentioned, "Especially the C100 options expiring on December 20, which essentially bet that Bitcoin's price will double within a month." According to data from Coingecko, Bitcoin reached its all-time high around noon local time, with a peak price of 94,040 dollars. Bitcoin's performance over the last 24 hours. Source: Coingecko Market Voices According to The Block, market structure expert Dennis Dick expects that with the rise of spot Bitcoin ETF options trading, Bitcoin's volatility may actually decrease. "As the number of open contracts increases, both sides of the market will form natural buyers and sellers... This will increase market depth and enhance liquidity, thereby reducing volatility," Dick stated. ETF Store President Nate Geraci predicts a wave of new ETF application enthusiasm. "I mentioned earlier that we now expect an increase in ETF applications based on Bitcoin options strategies," Geraci stated on social media. "This includes Bitcoin ETFs with covered call strategies, buffered Bitcoin ETFs, tail risk Bitcoin ETFs, convex Bitcoin ETFs, and so on." Meanwhile, The Block reported that Grayscale quickly submitted an updated prospectus for a Bitcoin covered call ETF. The fund will provide exposure to GBTC and Bitcoin and generate income by purchasing options contracts on Bitcoin ETPs. "Grayscale is excited that GBTC and Bitcoin options trading is about to begin... further developing the ecosystem around our U.S.-listed Bitcoin ETP," said David LaValle, Grayscale's Global Head of ETFs. "The market demand for Bitcoin ETPs is unprecedented, and the Grayscale team is proud to offer a range of Bitcoin products to enhance investor choice, including the lowest-cost Bitcoin ETP, making exposure to Bitcoin and the cryptocurrency asset class more accessible." Bitwise and Grayscale's Bitcoin ETF options will launch trading tomorrow, and Odaily Planet Daily will continue to provide updates.

The trading of spot Bitcoin ETF options is now open, and BTC has reached a new high.

The trading of spot Bitcoin ETF options is now open, and BTC has reached a new high.