Nasdaq Debut: Spot Bitcoin ETF Options Smash Records with $1.9B First-Day Trading

• Bitcoin ETF options made a significant debut on Nasdaq, as Blackrock’s iShares Bitcoin Trust ETF (IBIT) achieved a record-breaking $1.9 billion on the first day of trading.
• This significant development led to Bitcoin hitting a new all-time high of $94,105.

Yesterday Bitcoin ETF options were unveiled on Nasdaq. With the debut of these options, Blackrock, the world’s largest asset manager took the stage after its IBIT shares recorded an unprecedented trading volume of $1,9 billion on the first day.

Within the first hour of trading, Nasdaq reported a staggering 73,000 IBIT options contracts exchanged, placing it among the top 20 most active non-index options. By the end of the day, the total contracts traded surged to 354,000, translating to a notional exposure of $1.9 billion. This performance far surpassed previous records for Bitcoin-related financial products.

On the contrary, cryptocurrency has been riding high on a bullish spirit since the U.S. recent election. Taking this into account, Bitcoin has been on a bullish streak. Better yet the overwhelming demand for IBIT options contributed significantly in Bitcoin reaching a new all-time high of $94,105.

Picking up on this, James Seyffart, a renowned Bloomberg ETF analyst highlighted the overwhelming demand for IBIT options which in a big ratio contributed to Bitcoin’s success. The call-to-put ratio of 4.4:1, with 289,000 call options and 65,000 put options traded, demonstrated investors’ optimism about Bitcoin’s future performance.

UPDATE: Final tally of $IBIT 's 1st day of options is just shy of $1.9 billion in notional exposure traded via 354k contracts. 289k were Calls & 65k were Puts. That's a ratio of 4.4:1. These options were almost certainly part of the move to the new #Bitcoin all time highs today pic.twitter.com/IN3s9hajJ2

— James Seyffart (@JSeyff) November 19, 2024