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Investors stand to benefit from the continued rise in Bitcoin prices on the first day of options trading in iShares Bitcoin Trust, the largest exchange-traded fund (ETF) focused on cryptocurrencies.
Around noon Tuesday, about 100,000 options in the ETF traded under the ticker IBIT changed hands. Calls, which give holders the right to buy the fund at a set price, accounted for 85% of the trading volume.
iShares Bitcoin ETF Trust
The more than $40 billion ETF rose 1.6% to $53 after hitting a new high in early trading. Bitcoin rose about 1.6% to $92,800. The total value of the IBIT ETF is over $40 billion.
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IBIT options, available for the first time on Bitcoin ETFs, will expire in mid-December and mid-January. There were some notable trades: a January $53 call for 10,000 contracts, a January $55 call for 15,000 contracts, and a December $65 call for 10,000 contracts.
Chris Murphy, co-head of derivatives strategy at Susquehanna International Group, said IBIT's trading volume ranks 15th among publicly traded equity options.
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| ticker | safety | last | change | change % |
|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 147.01 | +6.86 |
+4.89% |
| TSLA | Tesla Inc. | 346.00 | +7.26 |
+2.14% |
There are far more options trading on stocks such as . Nvidia And Tesla is typically one of the most actively traded options contracts. As of nearly noon, 1.7 million Nvidia contracts and 1.6 million Tesla contracts had been swapped.
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Email Andrew Bary at andrew.bary@barrons.com.
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