📊 BlackRock IBIT Options Trading Hits Record Amid Market Crash
Trading activity in options linked to BlackRock’s spot Bitcoin ETF (IBIT) exploded as the fund plunged 13%, hitting its lowest since October 2024.
🔑 Key Facts
2.33 million options contracts traded in a single day — a record for IBIT
$900 million in premiums paid, equivalent to the market cap of some top-70+ crypto tokens
Put options outpaced calls, signaling heavy downside hedging during the sell-off
Analysts suggest activity was driven by margin calls, forced liquidations, and traders covering short positions
🧠 Expert Insight
While rumors of a hedge fund collapse circulated, much of the premium volume came from routine closures and traders repurchasing puts to limit losses. The episode highlights how IBIT options are now large enough to influence crypto markets, emphasizing the need for monitoring alongside ETF flows.
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