- Options offered on Bitcoin ETF could fuel BTC price rise to $200,000.
- BTC adoption is growing and market analysts are optimistic about the future of the coin.
Bitcoin (BTC) Options Exchange Traded Fund (ETF) is about to go live, sparking optimism for further rallies in the broader market. Market participants expressed that the upcoming launch of the options ETF could push BTC back up to $200,000.
Bitcoin ETF Options Set to Go Live
According to BloombergNasdaq Inc. plans to introduce options trading on BlackRock Inc.’s BTC ETF today. Alison Hennessy, head of listings at the Nasdaq ETP, confirmed the launch Monday, saying: “Our intention at Nasdaq is to list and negotiate these options tomorrow. »
He added that Nasdaq and Blackrock have been working with regulators for over 10 months to introduce options for Bitcoin ETF. This underlines the firm’s commitment to ensuring compliance with appropriate regulations. The event took place just after the United States Commodity and Futures Trading Commission (CFTC) approved the ETF for BTC options.
The approval of the Bitcoin Options ETF would allow traders to use derivatives to bet on or against the world’s top cryptocurrency. The news sparked excitement in the market, with analysts expecting an expansion of trading opportunities.
They believe that the Bitcoin Options ETF would follow the success and growing interest in spot BTC ETFs in the United States. BlackRock’s iShares Bitcoin Trust ETF (IBIT) has nearly $30 billion in assets since its inception, making it the largest of the cohort. Recent data from Distant investors shows a resurgence of spot Bitcoin ETFs in the United States.
On Monday, these funds saw inflows of $254.8 million after recording two consecutive days of outflows last week. Unsurprisingly, BlackRock’s IBIT generated the highest inflows at $89.3 million. Fidelity’s FBTC came in second with $60 million, followed by Bitwise’s BITB with $24.4 million.
Spot Bitcoin ETFs have inspired some US public funds to embrace crypto. As revealed by a CNF reportThe State of Wisconsin Investment Board (SWIB) has invested in Bitcoin through the Grayscale and BlackRock ETFs.
Can BTC reach $200,000?
The price of Bitcoin has risen sharply in recent days, reaching a new all-time high. Donald Trump’s electoral victory. The Bitcoin market is benefiting from anticipations of the implementation of pro-crypto policies by the new Trump administration. Many investors believe that the rise will continue in the days to come.
At the time of writing, BTC was trading at $91,516up 1.3% in the last 24 hours. Daily trading volume jumped 34.5% to $73.59 billion. Additionally, BTC futures open interest increased by over 1.5% at the time of writing, suggesting strong investor sentiments.
As BTC approaches the $100,000 mark, BCA Research predicted in a recent report that Bitcoin price will soon reach $200,000.
On-chain crypto market expert Ali Martinez shared a chart that shows BTC could next hit $150,000 if it follows historical trends. Echoing the same idea, another crypto market expert, Crypto Rover, published a similar chart for BTC, predicting that it will surpass $200,000.
