BlackRock’s Bitcoin exchange-traded fund (IBIT) options saw almost $2 billion in notional exposure on their first day of trading. According to Bloomberg Intelligence analyst James Seyffart, 354,000 contracts were traded, with 289,000 Calls and 65,000 Puts. The call-to-put ratio was 4.4:1. The launch of IBIT options is a significant event for Bitcoin’s market, as it allows institutional investors to hedge risk, speculate on price movements, and manage their portfolios more effectively.
This development could attract more institutional investors to Bitcoin and broaden the scope of crypto investment tools.