Bitcoin ETF Options Launch Sparks Market Anticipation

BlackRock's Bitcoin ETF options had a historic debut, trading nearly $1.9 billion in notional value on the first day. Key observations included a "volatility smile" and a strong preference for call options, with the most traded contract exceeding position limits. Despite expectations, MicroStrategy's options remained robust. The launch of BITB options is anticipated, potentially attracting non-institutional investors. The trading volumes contributed to Bitcoin reaching new highs, though position limits may impact future volumes.