Bitcoin ETF

Bitcoin

BlackRock

<p>On November 19, 2024, BlackRock made history in the financial markets with the launch of its Bitcoin ETF options, reaching an unprecedented trading volume of $1.9 billion on the very first day. This launch not only attracted the attention of institutional investors but also propelled the price of bitcoin to a new historic high of $94,105!</p>
<h2 id="h-blackrock-sets-records-with-bitcoin-etf-options">BlackRock sets records with Bitcoin ETF options!</h2>
<p>The <a href="https://www.cointribune.com/lexique/options/" target="_blank" rel="noopener noreferrer nofollow">options</a> on BlackRock’s Bitcoin ETF, known as the iShares Bitcoin Trust ETF (IBIT), saw 354,000 contracts traded in a single day. This volume is even more impressive when compared to the previous record set by the ProShares Bitcoin Strategy ETF (BITO), which reached $363 million at its launch.</p>
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<p>The senior ETF analyst at Bloomberg, Eric Balchunas, <a href="https://x.com/ericbalchunas/status/1858994117617086840?s=46&amp;t=zj7ICl0Lw9vdTKh741lFIQ" target="_blank" rel="noopener noreferrer nofollow">described</a> this volume as “unprecedented for a first day.” He also noted that the majority of transactions were call options, indicating strong investor confidence in the future rise of BTC’s price. Indeed, the put/call ratio for this first day was 0.225, meaning that investors betting on the rise of Bitcoin were significantly more numerous than those betting on its fall.</p>
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<h2 id="h-a-significant-impact-on-the-crypto-market">A significant impact on the crypto market</h2>
<p>This launch had a significant impact on the Bitcoin market. According to Ran Neuner, former host of CNBC Africa, the massive purchase of options led to an increase in spot ETF purchases, which in turn stimulated the <a href="https://www.cointribune.com/en/crypto-markets/bitcoin-btc-en/" target="_blank" rel="noopener noreferrer nofollow">price of BTC</a>. This momentum was reinforced by optimistic investor forecasts, with some even betting on a doubling of the BTC price within a month.</p>
<p>Meanwhile, Grayscale is also preparing to launch its own Bitcoin ETF options, as predicted by Ryan Lee, Chief Analyst at Bitget Research :</p>
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 <p>The introduction of IBIT options could have a ripple effect on other Bitcoin ETFs. It may set a precedent, encouraging the development of more options-based ETF products in the future, which would further cement Bitcoin’s integration into the traditional financial system.</p>
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<p>In summary, <a href="https://www.cointribune.com/en/here-is-why-this-november-19-could-be-historic-for-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">the launch of BTC options</a> by BlackRock represents a major milestone for the crypto market. It demonstrates not only the growing appetite of investors for derivative products linked to Bitcoin but also the increased confidence in the long-term potential of this cryptocurrency.</p>

BlackRock: A Record Launch For Bitcoin ETF Options

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