Grayscale Investments will begin trading options for its Bitcoin exchange-traded funds (ETFs) on November 21, joining a growing list of asset managers entering the Bitcoin options market. This follows the highly successful launch of options trading for BlackRock’s iShares Bitcoin Trust (IBIT) the previous day, which saw a staggering $1.9 billion in notional exposure on its first day.
In a post on X (formerly Twitter), Grayscale announced that options trading for both its Bitcoin spot ETF products—the Grayscale Bitcoin Trust (GBTC) and its mini trust version—would commence Thursday. The move marks an important milestone in expanding the ecosystem surrounding Bitcoin exchange-traded products (ETPs) listed in the U.S.
“We’re thrilled that options trading on both $GBTC and $BTC will begin tomorrow, furthering the development of the ecosystem around our U.S.-listed Bitcoin ETPs,” Grayscale said in the official announcement.
Grayscale Joins BlackRock and Bitwise in Bitcoin ETF Options
Grayscale’s two Bitcoin-related products, GBTC and the mini trust, will become the second and third Bitcoin ETFs to offer options trading after receiving approval from the Options Clearing Corporation (OCC). GBTC, which was launched in 2013, is the oldest Bitcoin-related financial product still actively traded. The company has expressed gratitude to its investors who have supported its long-term Bitcoin offerings, particularly in the context of ongoing market growth.
Grayscale’s announcement comes on the heels of a successful debut by BlackRock’s IBIT options, which attracted significant market interest. On its first day of options trading, IBIT generated $1.9 billion in notional exposure, with a total of 354,000 options contracts traded—289,000 call options and 65,000 put options. This high trading volume is seen as a strong indicator of institutional interest and helped fuel Bitcoin’s recent price surge, which saw the cryptocurrency reach a new all-time high of $94,041.
Grayscale’s launch of options trading is expected to further enhance its Bitcoin ETF products’ appeal, offering institutional investors and traders additional tools to hedge their exposure and engage in more sophisticated trading strategies.
Bitwise and Grayscale Set to Compete
Alongside Grayscale, Bitwise is also launching options for its Bitcoin ETF (BITB), further contributing to the growing market for Bitcoin-related derivatives. As these products go live on the New York Stock Exchange (NYSE) Arca—a platform known for trading over 11,000 listed securities—there is anticipation that more products will follow, providing increased liquidity and trading opportunities for Bitcoin investors.
The rapid adoption of Bitcoin options trading underscores the increasing mainstream interest in cryptocurrency markets, with institutional investors playing a pivotal role in shaping the future of digital asset trading.
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