Na terça-feira, a BlackRock lançou a negociação de opções iShares Bitcoin Trust (IBIT) na bolsa Nasdaq. As opções de ETF negociaram 73.000 trac de opções na primeira hora após a listagem e foram imediatamente classificadas entre as 20 opções não indexadas mais ativas.
A BlackRock, a maior empresa de gestão de ativos do mundo, com mais de US$ 10 trilhões, lançou a negociação de opções iShares BTC Trust (IBIT) na bolsa Nasdaq na terça-feira, 19 de novembro. As opções foram imediatamente classificadas entre as 20 opções não indexadas mais ativas após a negociação de 73.000 trac de opções na primeira hora de negociação e US$ 1,86 bilhão em nocionais negociados no primeiro dia.
$IBIT negociou 73.000 trac de #opções nos primeiros 60 minutos de negociação, colocando o fundo entre as 20 opções não indexadas mais ativas. $ BTCpic.twitter.com/QGjJc8iEU0
— Cheat Code TV (@cheatcode_tv) 20 de novembro de 2024
IBIT is the only Bitcoin ETF option listed so far, but other Bitcoin ETFs are expected to have options available as soon as this week. The options pave the way for a new derivative that allows institutional investors to hedge their exposure to Bitcoin by trading the asset at a predetermined price and anticipating a rise or fall in a given timeframe.
According to economist and newsletter author Noelle Acheson, BTC in the U.S. is still a tiny asset class despite its lively derivatives market.
“Bitcoin has a lively derivatives market, but in the U.S. it is still tiny compared to other asset classes and is largely limited to institutional players.”
– Noelle Acheson
The economist emphasized that Bitcoin’s onshore derivatives market will enhance its market sophistication and reinforce investor confidence. According to Acheson, new investors will most likely join the bandwagon, reducing volatility.
Todd Sohn, ETF strategist at Strategas, highlighted that BTC ETF options may lead to new funds that adopt those options. He mentioned that Grayscale did a filing for a covered call fund and said that BlackRock may follow suit. Sohn expressed his bullish concerns that the ecosystem may begin to fly since the market may buffer other trend-following strategy market participants.
Alex Thorn, head of Firmwide Research at Galaxy Digital, said Bitcoin ETF options like Nasdaq-listed IBIT options are likely to reduce volatility and increase the investor base, allowing market participants to open larger position sizes.
According to Thorn, more investors are likely to approach Bitcoin from a fundamental standpoint if volatility declines rather than just a high-risk speculative asset. He also said Bitcoin ETF options will facilitate more hedging for institutions on Bitcoin and increase the liquidity while impacting retail trading in case of bullish market sentiment.
The US financial watchdog approved spot Bitcoin ETFs in January this year. So far, the approved ETFs have topped the list as the most successful ETF launches in history, with more than $97 billion in total assets cumulatively under their custody, according to Sosovalue.
As time passes, more institutions are showing interest in the asset. A last-week 13F filing with the Securities and Exchange Commission (SEC) shows that billionaire Paul Tudor’s hedge fund holds 4.4 million shares of $230 million worth of BlackRock Bitcoin’s ETF as of September 30th. His fund’s investment was worth 160 million, but the shares have soared to $230 million.
On the other hand, Microstrategy added 51,780 BTC valued at $4.6 billion on November 18th, bringing its total holdings to 331,200 Bitcoin worth 30 billion at BTC’s current prices. Microstrategy has inspired other companies, such as Metaplanet and, most recently, Solidion, to adopt Bitcoin as a strategic reserve.
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