BlackRock, the world's largest asset management company, officially launched iShares Bitcoin Trust ETF for options trading on Nasdaq, as Bitcoin reached an all-time high of $94,041.
Launch of iShares Bitcoin Trust ETF
After the SEC approved Bitcoin ETF trading options in September, IBIT became the first crypto product to reach the final clearing steps and was approved on Nov. 18. Now, IBIT is live on the U.S. stock market.
Options Market Analysis
According to Bloomberg Intelligence ETF analyst James Seyffart, on Nov. 19 there were 289,000 call options and 65,000 put options, indicating expectations of Bitcoin price rise. The total options exposure amounts to $1.9 billion, showing significant market interest. Seyffart noted that this market move boosted Bitcoin to a new all-time high of $94,041.
Market Expectations and Prospects
Following the IBIT trading options launch, the market awaits approval of other Bitcoin ETF options. One anticipated option is the Bitwise Bitcoin ETF. These options are seen as pivotal for the crypto industry, offering a new level of sophisticated trading.
The launch of BlackRock's iShares Bitcoin Trust ETF and Bitcoin's new all-time high demonstrate significant interest and optimism in the cryptocurrency market.
