BlackRock will launch options for its Bitcoin ETFs on November 19th, 2024. This is a historic event which could bring cryptocurrency into mainstream investment. It’s a historic moment for crypto.
The financial press has been reeling from the effect of a single product on the market.
Bitcoin ETFs are now available
Blackrock launched the iShares Bitcoin Trust in January, and on November 19, Blackrock debuted its options at Nasdaq Stock Exchange.
It was the first public trading of a Bitcoin ETF with options in the United States. The results were stunning.
On the first record-breaking day, over 354,000 contracts with a nominal value of $1.9billion were traded.
The sentiment was even more impressive, as the ratio of 4.4:1 between call and put is quite remarkable.
Bitcoin is gaining in popularity on the market, as both small and large investors realize that it’s still not too late for them to make money from this original cryptocurrency.
Binance CEO Richard Teng commented on how options trading affects crypto markets.
Although uncertainty is always associated with innovation, the convergence of crypto and traditional markets via tools such as options indicates a mature landscape. This is a reaction to the existing market, but it also creates new possibilities. The products such as BTC ETFs will likely play an important role in maintaining and accelerating digital asset’s momentum.
IBIT ranked among the 20 most popular non-index trading options at the exchange. The financial packages, like ETFs, give investors familiar contracts and paperwork while also exposing them the the crypto market. This is good news because it’s only a few steps from purchasing an ETF and loading your crypto wallet.
Eric Blachunas, senior Bloomberg ETF analyst, said that $1.9b was unheard-of for a day one. To put this in context, BITO has been doing $363 million for the past four years. This is also with the 25,000 position contract limit. It’s worth noting that $1.9b doesn’t yet represent a large-cap level. GLD made $5 billion today. But give it some more days/weeks.”
World Economic Forum is trying to resolve this issue with international standards.
The novelty element is also important. These ETFs have become the “flavor of the month” right now.
It remains to be determined if Bitcoin ETFs will last or just provide a temporary boost to the cryptocurrency industry.
Bitcoin ETF launch leads to record-breaking inflows. This may change as new information unfolds
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