The bitcoin price surged to just over $94,000 per bitcoin, up 150% since this time last year, after BlackRock's spot bitcoin ETF recorded "unheard" volumes in its first day of options trading and Tesla billionaire Elon Musk issued a surprise crypto endorsement.

This is Frances Yue, crypto reporter at MarketWatch. Bitcoin hit a record high at $94,963 on Tuesday, after the Nasdaq started to allow trading of options on BlackRock’s iShares Bitcoin Trust for the first time on the same day.

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

BlackRock’s bitcoin fund has grown by $13 billion since Donald Trump's U.S. election victory with BlackRock winning 85% of the record $1.3 billion of inflows that hit the combined U.S. spot bitcoin ETFs on the Thursday after the election, according to Kaiko Research.