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BlackRock Spot Bitcoin ETF Options On Nasdaq Rack Up 9-Figure Trading Volume In First Few Hours: 'Seems Very Bullish,' Says Analyst

Benzinga ·  13:27

NASDAQbegan listing options on BlackRock'siShares Bitcoin Trust(NASDAQ:IBIT) today, a move that is expected to revolutionize how institutional investors engage withBitcoin(CRYPTO: BTC), providing them with a regulated and accessible avenue to hedge positions and generate yield.

What Happened:According toEric Balchunas, Senior ETF Analyst at Bloomberg, options volume for IBIT exceeded several hundred million by mid-day, with most of them betting on rising Bitcoin prices.

A few hundred million so far in options volume on $IBIT (a ton for Day One).. here's a rank of the contracts by volume, it's...

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