On November 19^th, Nasdaq in partnership with BlackRock, listed options on the iShares Bitcoin Trust ETF (IBIT).

The product traded 353,716 contracts on its opening day, placing it in the top 1% of all options products on the market. These options not only provide market participants with a novel way to integrate digital assets into their portfolios but also introduce an advanced risk management and hedging tool for Bitcoin trading, advancing the maturation of the entire ecosystem.

The Next Phase of IBIT

This launch comes after over ten months of work for the Nasdaq and BlackRock teams following approval from the SEC and word from the OCC through an advisory related to the products published late last week. Earlier this year, the iShares Bitcoin Trust ETF (ticker IBIT) launched, allowing market participants to access Bitcoin with convenience and quality, amassing over $40 billion in assets since its launch.

At close of business, the option product became the 5th most actively traded ETF underlier and 16th most actively traded options product in the industry . This extraordinary achievement underscores the exceptional performance and reception of IBIT and now its options in the competitive market landscape.

The launch of IBIT options provides an actively traded alternative for investors interested in cryptocurrency.

Innovation and Partnership

IBIT options represent a fusion of Nasdaq’s resilient and liquid markets with BlackRock’s innovative digital asset ETPs. IBIT is the first Bitcoin ETP to have listed options and Nasdaq was the first and only exchange group to trade them on day one, marking a critical success for both the product and the partnership.

“IBIT, and now IBIT options, combine the resiliency and liquidity of the Nasdaq markets with the innovation and opportunity of BlackRock’s digital asset ETPs, further integrating digital assets into mainstream finance.” said Kevin Kennedy, EVP Nasdaq’s North American Markets.

“Today marks an important milestone in Nasdaq’s goal building the financial architecture around Bitcoin and digital assets more generally,” said Sean Feeney, Head of US Options at Nasdaq. “It has been incredible to watch the immediate success of this product, and I look forward to what the future will bring for IBIT and our partnership with BlackRock.

Source: Nasdaq

$1.9b is unheard of for Day One. For context, $BITO did $363m and that's been around for four years. And also this is with 25,000 contract position limits. That said, $1.9b isn't quite big dog level yet tho, eg $GLD did $5b today, but give it a few more days/weeks. https://t.co/nAr2rracjb

— Eric Balchunas (@EricBalchunas) November 19, 2024

Superb visual showing where all the action was in the $IBIT options by strike price from @JSeyff. Basically everything to the right of the right line is betting that btc will be higher in future. Left of it is betting lower. pic.twitter.com/oX4zJ73oe8

— Eric Balchunas (@EricBalchunas) November 20, 2024

We’re excited to share that options on the Bitwise Bitcoin ETF (BITB) begin trading today on NYSE American.

Bitcoin ETP options bring bitcoin further into the mainstream, allowing institutions and investors to hedge their exposure and pursue sophisticated trading strategies.… pic.twitter.com/CtiYjrADwZ

— Bitwise (@Bitwise) November 20, 2024

The lowest cost* Bitcoin ETP – Grayscale Bitcoin Mini Trust ETF (Ticker: $BTC) – had its first Options trade today! It’s great to see the ecosystem building around $BTC, and we are thrilled our clients continue to choose @Grayscale for their #Bitcoin exposure.

— Dave LaValle (@dave_lavalle) November 20, 2024