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The initial options for the BlackRock Bitcoin ETF are 80% bullish, indicating an increasingly optimistic sentiment among investors

The initial options for the BlackRock Bitcoin ETF are 80% bullish, indicating an increasingly optimistic sentiment among investors

Bitget2024/11/20 09:24

On November 20, the Nasdaq exchange listed options for BlackRock's iShares Bitcoin Trust ETF on Tuesday. Data shows that more than 350,000 contracts were traded, of which about 80% were bullish bets. Nine out of the ten most heavily traded options were betting on a rise. The option with the highest trading volume was a call option expiring in January with an exercise price of $55, followed by a call option expiring in December with an exercise price of $65, which is 25% higher than the ETF's closing price on Monday. Bitcoin reached a historical high of $94,032 on the day the options contract was listed.

Some investors expect that U.S. bitcoin ETF options will attract more capital inflows. Caroline Mauron, co-founder of Orbit Markets said that the volume of options transactions is "a good start and shows that connections between crypto-native ecosystems and traditional financial markets are increasingly strengthening." Although transaction volumes themselves are not enough to influence asset directionality yet positive news indeed boosts bullish sentiment.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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