NASDAQ will list options on the spot bitcoin ETF from BlackRock (ticker: IBIT) today. This event should be considered an extremely important step in the evolution of the bitcoin($BTC
derivatives market. QCP Capital researchers stated that in traditional financial markets, the volume of derivatives trading often exceeds the market capitalization of the underlying asset by 10-20 times. It is expected that this trend may repeat here, which will give a new impetus to the global growth of the cryptocurrency market.
The launch of options on IBIT is likely to attract institutional investors who previously faced restrictions when working with cryptocurrencies on platforms like Deribit. These companies and individuals are mainly focused on strategies for generating income from long-term assets. This can lead to a further decrease in implied volatility, which usually indicates market stabilization.
A similar situation has already been observed before, when large institutions used MicroStrategy shares as an indirect tool to gain exposure to bitcoin. According to reports for the 3rd quarter, the number of MicroStrategy institutional investors increased from 667 to 738. The result is especially noticeable for Vanguard, which increased its investments by 1000%, adding almost 16 million shares. This growth indicates the growing interest of institutions in bitcoin-related markets.
In addition, Goldman Sachs has confirmed plans to spin off its digital asset platform into a separate business. This move highlights how cryptocurrencies are increasingly integrated into the traditional financial system. Banks and funds are starting to consider virtual currencies not as a risky experiment, but as a full-fledged element of their strategy.
Against the background of such news, market data indicate a strengthening of bitcoin's position. The December strike at 100,000 continues to hold the largest concentration of open interest. The price of bitcoin is confidently holding above 90,000, and a decrease in implied volatility indicates the possibility of further strengthening. Together, this creates the basis for a potential new round of growth.
