Grayscale Investment LLC, an American asset manager, recently announced that they will be launching options trading for their Bitcoin spot ETF products on November 21st. This news comes after BlackRock’s IBIT options trading reached an impressive $1.9 billion in a single day.
In a post on X’s official account, Grayscale expressed their excitement for the upcoming options trading on both $GBTC and $BTC. They see this as a positive step in further developing the ecosystem around their U.S.-listed #Bitcoin ETP.
Grayscale’s Bitcoin Trust (GBTC) and its mini trust version will be the second Bitcoin-related products to be traded in options, following approval from the Options Clearing Corporations (OCC). As the oldest product released in 2013, Grayscale is grateful to their clients who have continued to invest in Bitcoin (BTC) and other crypto-related products.
Joining Grayscale in this new initiative is Bitwise with their Bitwise Bitcoin ETF (BITB), which aims to provide institutions and investors with the opportunity to hedge their exposure and explore sophisticated trading strategies. All three products will be traded on the New York Stock Exchange (NYSE) Arca, which is already home to over 11,000 listed securities.
Prior to the launch of these options trading products, BlackRock’s iShares Bitcoin Trust (IBIT) made a significant impact by reaching a notional exposure of $1.9 billion. The high market interest was evident through 289,000 call options and 65,000 put options, totaling 354,000 options traded on the first day.
This notable market activity supported Bitcoin’s price surging to a new all-time high of $94,041. Analysts view this as a positive sign for the cryptocurrency and anticipate continued growth in the market as more investors and institutions explore trading options for Bitcoin ETFs. The introduction of options trading for these products opens up new opportunities for investors to manage their exposure to Bitcoin and engage in more sophisticated trading strategies.