BlackRock, Bitwise Bitcoin ETF Options Expected to Begin Trading This Week

Last updated:

November 19, 2024 00:50 EST

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Jai Pratap

Author

Jai Pratap

About Author

Jai serves as the Asia Desk Editor for Cryptonews.com, where he leads a diverse team of international reporters. Jai has over five years of experience covering the web3 industry.

Last updated:

November 19, 2024 00:50 EST

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Bitcoin ETF Options Expected to Begin Trading This Week

Options trading on BlackRock’s iShares Bitcoin Trust (IBIT) is expected to begin today on Nasdaq, while Bitwise Bitcoin ETF options will go live on Wednesday. Options on other spot products are also expected to begin trading soon.

Options trading on spot Bitcoin ETFs is a highly anticipated development expected to attract further institutional interest in crypto. The US Securities and Exchange Commission (SEC) had approved options for the spot bitcoin ETFs on several exchanges in September.

Options trading involves buying and selling options contracts, which are financial derivatives that give the holder the right—but not the obligation—to buy or sell an underlying asset – Bitcoin ETFs in this case – at a specified price within a predetermined time frame.

Bitwise Invest CEO Hunter Horsley confirmed in a post on X that they expect options on BITB to begin trading on Wednesday.

We expect options on the Bitwise Bitcoin ETF ( $BITB ) to begin trading Wednesday.

BITB traded around $115M of volume today, with AUM near $4B.

As ever, the public addresses allowing investors to verify the Bitcoin holdings are published on the ETP website and 10% of gross…

— Hunter Horsley (@HHorsley) November 19, 2024

Bloomberg analyst James Seyffart commented on the BITB options trading saying, “ Looks like $BITB and I’m assuming other Bitcoin ETFs are going to see options trading start on Wednesday.”

Bitcoin Spot ETF Sees $255M Inflow, Net Asset Ratio Hits 5.3%

On November 18, BlackRock’s IBIT ETF saw the highest inflow of $89.3 million, bringing its total inflows to $29.37 billion, as per data from SoSoValue.

Fidelity’s FBTC followed IBIT with $59.95 million in inflows, totaling $10.83 billion. Grayscale’s ETFs also saw inflows, with GBTC gaining $5.82 million and Bitcoin Mini Trust ETF $54.39 million. Overall, Bitcoin spot ETFs had a total net inflow of $255 million, with a combined net asset value of $95.93 billion, representing 5.3% of Bitcoin’s total market value and a cumulative net inflow of $27.71 billion.