Bitcoin Makes New All-Time High of $93,750 as ETF Options Go Live
Summary
Bitcoin reached new highs, trading above $93,750, surpassing its previous record. Wall Street introduced options trading on spot bitcoin ETFs, increasing institutional exposure. The CoinDesk 20 index fell by 0.5%, with HBAR rising 4.5% and NEAR dropping 5%. Options contracts allow asset transactions at set prices and times, enhancing market sophistication and investor confidence. Institutions are drawn to the flexibility and high-volume exposure of options. Currently, only BlackRock’s IBIT spot bitcoin ETF offers options, with strong demand and significant volume, primarily in call contracts, indicating bullish sentiment.
