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- Options offering on Bitcoin ETF might fuel BTC price surge to $200,000.
- BTC adoption is growing, and market analysts are bullish on the coin’s future.
Bitcoin (BTC) Options Exchange Traded Fund (ETF) is set to go live, raising optimism for more rallies in the broader market. Market participants have expressed that the upcoming Options ETF launch could cause BTC to rally to $200,000.
Bitcoin ETF Options Set to Go Live
According to Bloomberg, Nasdaq Inc. plans to introduce options trading on BlackRock Inc.’s BTC ETF today. Nasdaq ETP Listings head Alison Hennessy confirmed the launch on Monday, stating, “Our intent at Nasdaq is to list and trade these options as early as tomorrow.”
He added that Nasdaq and Blackrock have worked with regulators for over 10 months to introduce the Options for Bitcoin ETF. This highlights the firm’s commitment to ensuring compliance with appropriate regulations. The event came just after the US Commodity and Futures Trading Commission (CFTC) approved the ETF for BTC Options.
The Bitcoin Options ETF approval would allow traders to use derivatives to bet on or against the world’s leading cryptocurrency. The news has raised excitement in the market, with analysts anticipating expansion in trading possibilities.
They believe the Bitcoin Options ETF would follow the success and soaring interest in the US spot BTC ETFs. BlackRock’s iShares Bitcoin Trust ETF (IBIT) has almost $30 billion in assets since its inception, making it the largest in the cohort. Recent data from Farside Investors shows a resurgence in the US spot Bitcoin ETFs.
On Monday, these funds recorded inflows of $254.8 million after noting two consecutive days of outflows last week. Unsurprisingly, BlackRock’s IBIT amassed the highest inflows at $89.3 million. Fidelity’s FBTC came second with $60 million, followed by Bitwise’s BITB with $24.4 million.
The spot Bitcoin ETFs have inspired some US state funds to embrace crypto. As revealed in a CNF report, the State of Wisconsin Investment Board (SWIB) has invested in Bitcoin through Grayscale and BlackRock ETFs.
Can BTC Rally To $200K?
Bitcoin’s price has rallied strongly over the past few days, touching a new all-time high following Donald Trump’s election victory. The Bitcoin market benefits from anticipations of the new Trump administration’s establishment of pro-crypto policies. Many investors believe the surge will continue in the following days.
As of this writing, BTC has been trading at $91,516, up 1.3% in the last 24 hours. The daily trading volume jumped 34.5% to $73.59 billion. Furthermore, the BTC’s futures open interest increased by more than 1.5% as of this writing, suggesting strong investor sentiments.
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As BTC inches towards the $100,000 mark, BCA Research predicted in a recent report that Bitcoin’s price will soon hit $200,000.
Onchain crypto market expert Ali Martinez shared a chart that shows BTC could hit $150,000 next if it follows historical trends. Echoing the same idea, another crypto market expert, Crypto Rover, posted a similar chart for BTC, projecting it will surpass $200,000.
