Grayscale Launches Bitcoin ETF Options Following Strong Market Demand
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TLDR BlackRock’s IBIT Bitcoin ETF options debut achieved record $4.1B trading volume Bitcoin reached new all-time high of $94,041 following options launch Grayscale announcing options trading for GBTC and BTC starting November 20 Total spot Bitcoin ETF inflows surged 220% to $816.44M in one day ARK’s ARKB led inflows with $267.34M, followed by Fidelity’s FBTC ($256.15M) The Bitcoin ETF market continues to evolve as Grayscale Investments announces plans to launch options trading for its spot Bitcoin ETFs on Wednesday. This move follows BlackRock’s successful debut in the options market, which saw record-breaking trading volumes and coincided with Bitcoin reaching new price heights. BlackRock’s iShares Bitcoin Trust (IBIT) set a new benchmark in the industry by recording $4.1 billion in trading volume on its first day of options trading. The launch proved more successful than anticipated, with nearly $1 billion in volume occurring within the first 20 minutes of market opening. The options trading activity showed a clear bullish sentiment among investors. Data revealed that 354,000 contracts were traded, with 289,000 calls compared to 65,000 puts, creating a 4.4:1 ratio in favor of positive price movement bets. Eric Balchunas, Bloomberg’s senior ETF analyst, highlighted the unprecedented nature of IBIT’s performance. “For context, BITO did $363 million, and that’s been around for four years,” he noted, referring to ProShares’ futures Bitcoin ETF. $1.9b is unheard of for Day One. For context, $BITO did $363m and that’s been around for four years. And also this is with 25,000 contract position limits. That said, $1.9b isn’t quite big dog level yet tho, eg $GLD did $5b today, but give it a few more days/weeks. https://t.co/nAr2rracjb — Eric Balchunas (@EricBalchunas) November 19, 2024 Grayscale’s entry into options trading includes both its GBTC (Grayscale Bitcoin Trust) and BTC (Bitcoin Mini Trust) products. The company filed an…
Filed under: News - @ November 20, 2024 10:27 am