[NEWS] BlackRock's Bitcoin spot ETF begins options trading

On the 19th, options trading began for IBIT (iShares Bitcoin Trust), a Bitcoin spot ETF offered by BlackRock.

According to Bloomberg ETF analyst James Seyffart, on the first day of IBIT options trading was worth approximately $1.9 billion (approximately 296 billion yen) through 354,000 contracts. 289,000 were calls and 65,000 were puts. This shows that investors are bullish on Bitcoin.

Options trading allows investors to buy and sell specific products at a predetermined price and time. This allows investors to have a wider range of investment options.

On the same day, Bitcoin surpassed $94,000 (approximately 146.3 billion yen), setting a new all-time high. Seyffart analyzed, "There is no doubt that options trading contributed to Bitcoin (BTC) reaching a new all-time high." At present, Bitcoin continues to trade at high levels, fluctuating around $93,000 (approximately 14.48 million yen).

The Bitcoin spot ETF hit record levels for its first day of trading. "IBIT options volume reached hundreds of millions of dollars," Bloomberg ETF analyst Eric Balchunas said, adding that this was very high for the first day of options trading.

He also noted that most of the volume was call options, saying, "(The market) is very bullish.

Bitcoin prices have soared following former President Trump's victory in the U.S. presidential election. This shows that expectations are growing that this will lead to positive movements for cryptocurrencies in particular.

Trump is also solidifying the personnel of the key members of his next administration, and many of them are pro-cryptocurrency. This situation increases the possibility that Trump will push ahead with cryptocurrency policies immediately after taking office.

Reference: Seyfert's X , Balchunas' X
Image: Shutterstock

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