BlackRock Bitcoin ETF Options Surge with $1.9B Debut, Sparking Market Buzz

BlackRock's spot Bitcoin ETF, the iShares Bitcoin Trust ETF (IBIT), saw an unprecedented $1.9 billion in options traded on its first day, significantly impacting Bitcoin's price, which hit a new high of over $94,000. The high trading volume and bullish sentiment, indicated by a low put/call ratio, suggest strong market confidence in Bitcoin's continued rise. This launch has been compared to the ProShares Bitcoin Strategy ETF, which had a much smaller debut, and is seen as a major development in the cryptocurrency market.