ETF options, launched on Nov. 19, 2024, saw an unprecedented $1.9 billion in notional exposure on its first day of trading.

BlackRock’s Bitcoin ETF options will start trading tomorrow with significant market implications after regulatory approvals.

Bitcoin price reached another all-time high above $94,000 as options on BlackRock's spot bitcoin ETF saw staggering first-day trading activity. Plus, insights on MicroStrategy's growing market cap. CoinDesk's Christine Lee discusses what this could mean for bitcoin's price on the "Chart of the Day.

The options rollout comes as bitcoin reached new highs above $94,900 on Wednesday. While it's retreated to $94,320, it's still about 2% higher over the past 24 hours, according to data from CoinMarketCap.

On Tuesday, BlackRock launched iShares Bitcoin Trust (IBIT) options trading on the Nasdaq exchange. The ETF options traded 73,000 options contracts within the first hour after listing and immediately ranked among the top 20 most active non-index options.

Nasdaq Inc. is planning to list options on BlackRock Inc.’s Bitcoin exchange-traded fund, possibly as soon as Tuesday, allowing investors to use derivatives to bet on or against the world’s largest digital asset.

The bullish sentiment in the IBIT options is consistent with the noticeable activity in the $200,000 bitcoin call trading on Deribit.

Bloomberg Intelligence showed that the U.S. Bitcoin ETFs broke over $100B for the first time, recording total assets of $104B against $121.65B for Gold ETFs. The U.S. Bitcoin ETFs had a net inflow of $773M as Bitcoin rallied past $99K on November 22nd.

U.S. Bitcoin ETFs command $105.91 billion in BTC or 5.46% of its market cap. Major institutional investors are the primary driving force behind BTC’s push