Grayscale will begin trading Bitcoin ETF options

Grayscale will start trading the Bitcoin ETF options for both products on November 21, following BlackRock’s IBIT options trading on the previous day, which reached $1.9 billion in a day.

An American asset manager, Grayscale Investment LLC, announced on their X’s post on Nov. 20 that both of their Bitcoin spot ETF products will be available for options trading on Thursday.

“Grayscale thrilled that Options trading on both $GBTC and $BTC will begin tomorrow, further the developing eco around our U.S.-listed #Bitcoin ETP,” the company official X said.

Grayscale Bitcoin Trust (GBTC) and the mini trust version (BTC) will be the second Bitcoin-related product to be traded in options after receiving approval from Options Clearing Corporations (OCC).

Since GBTC is the oldest product released in 2013, the company based in Stamford sends a grateful message to the client who continues investing in Bitcoin and other crypto-related products in the next X post.

Grayscale and Bitwise following IBIT’s success story

Bitwise Bitcoin ETF (BITB) is also one of the options trading products that will launch today. This product will “allow the institutions and investor to hedge their exposure and pursue sophisticated trading strategies,”.

Those three products will be traded on the New York Stock Exchange (NYSE) Arca, which already traded more than 11,000 listed securities.

Before they entered the options trading, BlackRock’s iShares Bitcoin Trust (IBIT) reached the market with a notional exposure of up to $1.9 billion. In a day, the call options reached 289,000 and 65,000 put options, with total options of 354,000, which indicates a high level of market interest.

Analysts say this exposure is one of the biggest options for trading on the first day and supports Bitcoin’s prices up to $94.041 as it hit a new all-time high yesterday.