IBIT options, reached a trading volume of 2.6419 trillion won on the first day of Nasdaq listing
BTC, broke through 13.1 million won at 4:15 am on Upbit
Expert "Bitcoin's rise is not the end but the beginning... the floodgates have opened"
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The explosive trading volume of the 'IBIT' BTC spot ETF option from BlackRock, which was listed on Nasdaq at the same time, is cited as the reason for the repeated record highs of BTC.
Earlier, BlackRock received approval from the U.S. Securities and Exchange Commission (SEC) to list the IBIT option on Nasdaq, but the listing was delayed due to the final approval of the Options Clearing Corporation (OCC), and it was first listed on Nasdaq on the 19th of this month. The IBIT option recorded a trading volume of about $1.9 billion (about 2.6419 trillion won) on the first trading day.
According to data released by Eric Balchunas, a Bloomberg ETF researcher, the call-to-put ratio of the Nasdaq IBIT option was 0.17, showing an overwhelming number of calls.
As the IBIT option showed explosive trading volume on Nasdaq, the liquidity of BTC itself increased, and BTC, which had paused after setting a new record high day after day, took off again.
The price of BTC recorded 13,103 million won on Upbit on the 20th. Experts say that the rise of BTC may not be the end but the beginning.
Joe Consorte, a researcher at BTC custodian Teia, emphasized in his X account on the 20th that "the floodgates for BTC growth in the financial market have opened" and that "the launch of the IBIT option signifies a new era for BTC in terms of price dynamics, volatility, and institutional adoption".
Reporter Kwon Seung-won ksw@blockstreet.co.kr
