Bitcoin scales another all-time high in wake of IBIT options debut

seekingalpha

20 Nov 2024

wildpixel/iStock via Getty Images

Bitcoin (BTC-USD) rose as high as $94.6K Wednesday morning, reaching a record high for a second straight day and the day after options tied to a bitcoin ETF started trading.

Options for BlackRock's (BLK) iShares Bitcoin Trust ETF (NASDAQ:IBIT) gathered almost $2B of notional exposure through 354K contracts, Bloomberg Intelligence's James Seyffart posted on X on Tuesday.

More call options were trading vs. put options (ratio of 4.4:1), which is likely a factor in bitcoin's record highs, he noted.

The options will provide investors with a "hedging and risk management tool to manage exposure to the price of bitcoin and bitcoin-related products and positions," the SEC said in September when it approved the listing and trading of IBIT options.

Overall, crypto trading was in the green, with ethereum (ETH-USD) rising 0.7% to $3.11K, solana (SOL-USD) down 0.6%, XRP (XRP-USD) +1.4%, Dogecoin (DOGE) +0.6%, and cardano (ADA-USD) surging 15%.

Accordingly, bitcoin-related stocks jumped. MicroStrategy (MSTR) +7.4%, MARA Holdings (MARA) +2.6%, Riot Platforms (RIOT) +3.6%, Hut 8 (HUT) +2.8%, Bitfarms (BITF) +3.1%.

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overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nBitcoin scales another all-time high in wake of IBIT options debut\n</h2>\n<h4 class=\"meta\">\n\n\n2024-11-20 21:53 GMT+8   <a href=\"https://seekingalpha.com/news/4311454-bitcoin-scales-another-all-timehigh-in-wake-of-ibi-t-options-debut\"><strong>seekingalpha</strong></a>\n</h4>\n</header>\n<article>\n<div>\n<p>wildpixel/iStock via Getty ImagesBitcoin (BTC-USD) rose as high as $94.6K Wednesday morning, reaching a record high for a second straight day and the day after options tied to a bitcoin ETF started ...</p>\n<a href=\"https://seekingalpha.com/news/4311454-bitcoin-scales-another-all-timehigh-in-wake-of-ibi-t-options-debut\">Source Link</a>\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4588","symbol_name":"碎股","start_time":0,"source_url":"https://seekingalpha.com/news/4311454-bitcoin-scales-another-all-timehigh-in-wake-of-ibi-t-options-debut","article_id":"2484149911","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1393612971/image_1393612971.jpg?io=getty-c-w750"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2484149911","pubTimestamp":1732110838,"columns":[],"sourceInfo":{"source_id":"seekingalpha_trending_news","name":"Seeking Alpha Trending News"},"weMediaInfo":null,"summary":"wildpixel/iStock via Getty ImagesBitcoin  rose as high as $94.6K Wednesday morning, reaching a record high for a second straight day and the day after options tied to a bitcoin ETF started trading. Options for BlackRock's  iShares Bitcoin Trust ETF  gathered almost $2B of notional exposure through 354K contracts, Bloomberg Intelligence's James Seyffart posted on X on Tuesday. More call options were trading vs. put options , which is likely a factor in bitcoin's record highs, he noted. The options will provide investors with a \"hedging and risk management tool to manage exposure to the price of bitcoin and bitcoin-related products and positions,\" the SEC said in September when it approved the listing and trading of IBIT options. Overall, crypto trading was in the green, with ethereum  rising 0.7% to $3.11K, solana  down 0.6%, XRP  +1.4%, Dogecoin  +0.6%, and cardano  surging 15%. Accordingly, bitcoin-related stocks jumped. MicroStrategy  +7.4%, MARA Holdings  +2.6%, Riot Platforms  +3.6","collect":0,"end_time":0,"defaultTopTitle":"seekingalpha.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"83042":"华夏比特币-R","BK4588":"碎股","LU0640476718.USD":"THREADNEEDLE (LUX) US CONTRARIAN CORE EQ \"AU\" (USD) ACC","LU0742537680.HKD":"FIDELITY GLOBAL DIVIDEND \"A \" (HKD) INC","LU0772969993.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) ACC","LU1509826696.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USD) INC B","LU1670627923.USD":"M&G (LUX) NORTH AMERICAN DIVIDEND \"A\" (USD) ACC","LU1481011911.USD":"FIDELITY GLOBAL DIVIDEND \"A\" (USDHDG) INC","BK4547":"WSB热门概念","MSTR.AU":"MORNINGSTAR INTL SHARES ACT","LU2264538146.SGD":"Fullerton Lux Funds - Global Absolute Alpha A Acc SGD","09042":"华夏比特币-U","BK4581":"高盛持仓","IE00B64PRP62.GBP":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (GBP) ACC","BK4135":"资产管理与托管银行","03439":"嘉实比特币","LU0130102774.USD":"Natixis Harris Associates US Equity RA USD","IE00B3QW5Z07.USD":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (USD) ACC","LU2505996681.GBP":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (GBPHDG) INC","IBIT":"iShares Bitcoin Trust","LU2430703251.USD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4\" (USD) INC","IE00BGHQF748.EUR":"GUINNESS GLOBAL MONEY MANAGERS \"C\" (EUR) ACC","MARA":"MARA Holdings","RIOT":"Riot Platforms","LU2505996509.AUD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (AUDHDG) INC","IE00BVYPNV92.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) ACC","LU1291159041.SGD":"CPR Invest - Global Silver Age A2 Acc SGD-H","HUT":"Hut 8 Mining Corp","IE00B3PB1722.GBP":"GUINNESS GLOBAL EQUITY INCOME \"C\" (GBP) INC","MSTR":"Strategy","BLK":"贝莱德","BLK.AU":"Blackham Resources Ltd","IE00B42XCP33.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) INC","09439":"嘉实比特币-U","LU0731783394.SGD":"Fidelity Global Dividend A-MINCOME(G)-SGD","LU1201861249.SGD":"Natixis Harris Associates US Equity PA SGD-H","BK4567":"ESG概念","BK4594":"比特币ETF概念","03008":"博时比特币","FDN":"First Trust Dow Jones Internet I","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1988902786.USD":"FULLERTON LUX FUNDS GLOBAL ABSOLUTE ALPHA \"I\" (USD) ACC","LU2430703178.SGD":"WELLINGTON MULTI-ASSET HIGH INCOME \"AM4H\" (SGDHDG) INC","BK4535":"淡马锡持仓","IE00BVYPNW00.USD":"GUINNESS GLOBAL EQUITY INCOME \"C\" (USD) ACC","09008":"博时比特币-U","IE00BDGV0183.EUR":"GUINNESS GLOBAL EQUITY INCOME \"C\" (EUR) INC","03042":"华夏比特币","BITF":"Bitfarms Ltd."},"translate_title":"IBIT期权首次亮相后，比特币再创历史新高","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"83042":0.6,"03042":1,"RIOT":1,"MSTR.AU":1,"MSTR":1,"MARA":1,"IBIT":1,"HUT":1,"BLK.AU":1,"BLK":1,"03008":1,"09439":1,"BITF":1,"09042":1,"03439":1,"09008":1,"FDN":0.65},"content_text":"wildpixel/iStock via Getty ImagesBitcoin (BTC-USD) rose as high as $94.6K Wednesday morning, reaching a record high for a second straight day and the day after options tied to a bitcoin ETF started trading. Options for BlackRock's (BLK) iShares Bitcoin Trust ETF (NASDAQ:IBIT) gathered almost $2B of notional exposure through 354K contracts, Bloomberg Intelligence's James Seyffart posted on X on Tuesday. More call options were trading vs. put options (ratio of 4.4:1), which is likely a factor in bitcoin's record highs, he noted. The options will provide investors with a \"hedging and risk management tool to manage exposure to the price of bitcoin and bitcoin-related products and positions,\" the SEC said in September when it approved the listing and trading of IBIT options. Overall, crypto trading was in the green, with ethereum (ETH-USD) rising 0.7% to $3.11K, solana (SOL-USD) down 0.6%, XRP (XRP-USD) +1.4%, Dogecoin (DOGE) +0.6%, and cardano (ADA-USD) surging 15%. Accordingly, bitcoin-related stocks jumped. MicroStrategy (MSTR) +7.4%, MARA Holdings (MARA) +2.6%, Riot Platforms (RIOT) +3.6%, Hut 8 (HUT) +2.8%, Bitfarms (BITF) +3.1%.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"2","news_tag":"dataReport","news_rank":0,"symbols":[],"gpt_button":0}}}