Summary
- Reported that option contracts linked to BlackRock's Bitcoin spot ETF IBIT surpassed 7.7 million.
- IBIT options' open interest is the second largest among U.S. stocks and the ninth largest among ETF options.
- Institutional investors are using hedging, speculation, and covered calls strategies with IBIT options to try to generate returns.
Option contracts linked to IBIT, BlackRock's Bitcoin (BTC) spot exchange-traded fund, have surpassed 7.7 million.
CoinDesk reported on the 3rd (local time), citing data from optioncharts, that IBIT-related option contracts totaled about 7.71 million as of the previous day (2nd). It is the ninth largest among options related to indices, listed stocks, and exchange-traded funds (ETFs) in the U.S. CoinDesk said, "Among stocks, the open interest (OI) of IBIT options is the second largest."
Earlier, BlackRock launched the IBIT option product in November last year. Global Web3 research firm BloFin Research analyzed, "The increasing popularity of options linked to IBIT means Bitcoin's appeal as an asset is growing." CoinDesk said, "(IBIT options) provided institutional investors access to a regulated (cryptocurrency) options market," and "investors have used the options for revenue-generating strategies such as hedging, speculation, and covered calls."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul!['Easy money is over' as Trump pick triggers turmoil…Bitcoin tumbles too [Bin Nansa’s Wall Street, No Gaps]](https://media.bloomingbit.io/PROD/news/c5552397-3200-4794-a27b-2fabde64d4e2.webp?w=250)
![[Market] Bitcoin falls below $82,000...$320 million liquidated over the past hour](https://media.bloomingbit.io/PROD/news/93660260-0bc7-402a-bf2a-b4a42b9388aa.webp?w=250)
