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.

Bitcoin Spot ETFs saw a surge in inflows, with $490 million recorded on November 22, marking a fifth consecutive day of positive momentum.

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.

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.

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