CandleFocus IBIT options trading volume surges to $446M in opening hours, $1.6B by mid-day
2024-11-19
Author: Content Editor
The iShares Bitcoin Trust ETF (IBIT) has begun options trading on Nasdaq, moving over $446 million in its first trading hours. The majority of trading contracts were calls, with one option predicting a doubling in the price of Bitcoin by December 20. IBIT's spot trading volume has reached $1.6 billion. The Office of the Comptroller of the Currency's recent memo paved the way for options trading for IBIT and other spot Bitcoin ETFs. Bitwise CEO Hunter Horsley expects options trading for BITB to start on November 20. While this is a positive development, some argue that Bitcoin still receives special treatment, as IBIT has a limit of just 25,000 contracts, representing 0.5% of the ETF's shares, while it should have qualified for 400,000 contracts.
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