Bitcoin (BTC) surged past $94,000 on Tuesday, setting a new all-time high as Nasdaq launched options trading for spot bitcoin exchange-traded funds (ETFs). The top cryptocurrency is up more than 4% over the past 24 hours, eclipsing its previous record of $93,450 set on Nov. 13.
The rollout of spot Bitcoin ETF options marks a significant milestone for the crypto market, offering both retail and institutional investors new tools for trading and investment. BlackRock’s iShares Bitcoin Trust (IBIT) is currently the only U.S.-based spot Bitcoin ETF with options available, and it has seen robust demand.
“A few hundred million dollars in options volume for IBIT on day one is remarkable,” Bloomberg ETF analyst Eric Balchunas noted on X, adding that the majority of trades were call options — bets on Bitcoin’s continued price increase.
Noelle Acheson, former head of market insights at Genesis, highlighted the importance of this development, stating, “A deeper onshore derivatives market will enhance market sophistication, boost investor confidence, and attract institutional players with greater flexibility and high-volume exposure.”
At press time, Bitcoin remains above $94,000, reflecting strong market momentum and growing institutional interest in digital assets, according to CoinDesk.
