Bitcoin ETF

Bitcoin

<h2 id="key-points">Key Points</h2> 
<ul> 
 <li>IBIT’s day 1 of options trading was close to $1.9 billion in notional exposure traded via 354,000 contracts.</li> 
 <li>Grayscale will roll out options trading for BTC ETFs, amidst significant investor appetite for the products.</li> 
</ul> 
<p>Yesterday’s debut of Bitcoin ETF options was the latest boost for BTC, sending the digital asset to a new ATH above $93,900. Following BlackRock’s IBIT options’ success, today, Grayscale will launch options for its BTC ETFs.</p> 
<h2 id="ibit-achieved-record-breaking-activity-on-day-1-of-options-trading">IBIT Achieved Record-Breaking Activity on Day 1 of Options Trading</h2> 
<p>Bloomberg’s analyst, James Seyffart shared an announcement via X on November 14, highlighting the success of BlackRock’s IBIT options trading, following the launch of the crypto products.</p> 
<p>The final tally of IBIT’s first day of options was close to $1.9 billion in notional exposure traded via 354,000 contracts.</p> 
<p>He noted that 289,000 were Calls and 65,000 were Puts, and this translates into a ratio of 4,4:1.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/Gcx1gRYWwAAkY-Z?format=png&amp;name=small" alt="James Seyffart via X" width="614" height="488" title="Bitcoin Hit a New ATH at $93,900, Amidst BlackRock's IBIT Options Trading Record-Breaking Debut 26">
 <figcaption class="wp-caption-text">
  James Seyffart via X
 </figcaption>
</figure> 
<p>Following IBIT’s huge success which mirrors increased interest from investors, today, Grayscale will launch options trading for its BTC ETFs.</p> 
<h2 id="grayscale-to-roll-out-options-trading-on-btc-etfs">Grayscale to Roll Out Options Trading on BTC ETFs</h2> 
<p>Today, November 20, Grayscale will launch options trading on GBTC (Grayscale Bitcoin Trust) and BTC (Bitcoin Mini Trust) to further develop the ecosystem around their US-listed Bitcoin ETPs, according to an<a href="https://x.com/Grayscale/status/1858984064113668388" rel="nofollow" target="_blank"> announcement</a> shared by the company via X.</p> 
<p>Following the Options Clearing Corporation’s (OCC) approval of Bitcoin ETF options, Grayscale <a href="https://www.sec.gov/Archives/edgar/data/1976672/000168035924000022/grysclebtcntrstcvrcl01112024.htm" rel="nofollow noopener" target="_blank">filed</a> an updated prospectus for its Bitcoin Covered Call ETF on January 11.</p> 
<p>The tooling targets income generation by employing a call strategy which means writing and buying options contracts on Bitcoin ETPs while holding BTC or GBTC as collateral, as <a href="https://x.com/JSeyff/status/1858838632863240607" rel="nofollow" target="_blank">noted</a> by Seyffart via X.</p> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img loading="lazy" decoding="async" src="https://pbs.twimg.com/media/GctP_VDXIAAt5X3?format=png&amp;name=900x900" alt="James Seyffart via X" width="765" height="439" title="Bitcoin Hit a New ATH at $93,900, Amidst BlackRock's IBIT Options Trading Record-Breaking Debut 27">
 <figcaption class="wp-caption-text">
  James Seyffart via X
 </figcaption>
</figure> 
<p>Amidst continued optimism in the crypto industry, the first day of Bitcoin ETF options trading and IBIT’s significant success pushed BTC to a new ATH.</p> 
<h2 id="bitcoin-hit-a-new-ath-at-93-900">Bitcoin Hit a New ATH at $93,900</h2> 
<p>Yesterday, BTC hit a new ATH at $93,000, after a significant surge from $91,000 levels. At the moment of writing this article, BTC is trading close to $93,000, up by 1.3% in the last 24 hours.</p> 
<figure id="attachment_53521" aria-describedby="caption-attachment-53521" style="width: 100%" class="wp-caption alignnone">
 <a href="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097.jpeg"><img loading="lazy" decoding="async" class="wp-image-53521 size-full" src="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097.jpeg" alt="BTC price in USD today" width="1200" height="800" title="Bitcoin Hit a New ATH at $93,900, Amidst BlackRock's IBIT Options Trading Record-Breaking Debut 28" srcset="https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097.jpeg 1200w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097-300x200.jpeg 300w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097-1024x683.jpeg 1024w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097-768x512.jpeg 768w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097-750x500.jpeg 750w, https://crypto.ro/en/wp-content/uploads/2024/11/BTC_1D_graph_coinmarketcap-2024-11-20T100323.097-1140x760.jpeg 1140w" sizes="(max-width: 1200px) 100vw, 1200px"></a>
 <figcaption id="caption-attachment-53521" class="wp-caption-text">
  BTC price in USD today
 </figcaption>
</figure> 
<p>With a market cap of over $1.84 trillion, BTC is<a href="https://companiesmarketcap.com/assets-by-market-cap/" rel="nofollow noopener" target="_blank"> positioned</a> in the 7th spot in the Top Assets by Market Cap list, below Amazon.</p> 
<p>BTC ETFs also recorded two inflow days this week totaling over $1 billion, according to <a href="https://sosovalue.com/assets/etf/us-btc-spot" rel="nofollow noopener" target="_blank">SoSoValue</a> data.</p> 
<p>The total net assets locked in the crypto products as of November 19 were over $98 billion, and the cumulative flows in the crypto products since their debut surpassed $28.5 billion.</p> 
<p>Considering the favorable framework in the crypto industry due to the upcoming changes in Washington in 2025 and the prospect of a Strategic Bitcoin Reserve in more states in the US and <a href="https://crypto.ro/en/news/polish-presidential-candidate-vows-to-create-a-strategic-bitcoin-reserve/">other countries</a>, Bitcoin is well-positioned to hit $100,000 even before Trump’s inauguration in January 2025.</p>

Bitcoin Hit a New ATH at $93,900, Amidst BlackRock’s IBIT Options Trading Record-Breaking Debut

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