BlackRock’s Bitcoin ETF Options Climb Into U.S. Top 10 With 7.7M Contracts
Options tied to cryptocurrencies are surging across U.S. markets, and BlackRock’s bitcoin ETF (IBIT) has emerged as a standout. Just over a year after its November 2024 debut, IBIT options have cracked the top 10 in open interest.
As of Tuesday, 7,714,246 IBIT contracts were active, ranking ninth among all U.S.-listed stock, ETF, and index options, according to optioncharts.io. Among individual stocks, IBIT options rank second.
BloFin Research notes that IBIT’s popularity highlights Bitcoin’s appeal as a macro asset. “Including Deribit’s open interest, IBIT rivals VIX and SPY options, cementing its position as a top macro asset,” the firm told CoinDesk.
IBIT options give institutions regulated access to Bitcoin and allow ETF holders to manage risk. Traders use them for hedging, speculation, and yield strategies like covered calls.
Despite gold rising 50% this year, IBIT options have outpaced SPDR Gold ETF (GLD) contracts, which totaled 5,151,654 open contracts Tuesday. Options on tech giants and ETFs linked to emerging markets or Treasuries also trail IBIT. Notably, Nasdaq-listed IBIT options’ open interest surpassed Deribit’s bitcoin options by September’s end.
While S&P 500 and Nvidia options remain market leaders with over 20 million contracts each, IBIT’s rise underscores growing institutional adoption and mainstream acceptance of crypto derivatives.
