IBIT enters the top 10 US stocks with the most options contracts

BlackRock’s US Spot Bitcoin ETF (Exchange Traded Fund) has moved into the list of top ten US-listed stocks with the most active or open options contracts.

According to data from optionscharts.iothe number of contracts linked to the BTC ETF, which trades under the symbol “IBIT”, reached 7,714,246. This tally places IBIT ninth on the list. Among stocks alone, IBIT options also rank second in terms of open interest.

Options are derivative contracts that give the buyer the right to buy or sell the underlying asset at a predetermined price at a future date. A call gives the right to buy while a put option gives the right to sell.

IBIT’s entry into the top ten list among U.S.-listed stocks comes just over a year after options for the spot Bitcoin ETF debuted in the market.

Since this launch, traders have used options for hedging, speculation and yield-generating strategies such as covered calls.

IBIT options are more actively traded than gold ETF options

IBIT options were also more crowded than SPDR Gold ETF contracts. This is even though the price of the popular commodity has soared 50% this year, while the price of Bitcoin has fallen more than 2% during the same period.

BTC price performance over the past year (Source: CoinMarketCap)

Options linked to the SPDR Gold Shares ETF stood at 5,151,654 contracts on Tuesday, well below the contract total for IBIT on that day.

Meanwhile, the number of options linked to tech giants like Intel, Apple, Netflix, Amazon and Tesla, as well as ETFs linked to emerging markets and 20-year Treasuries, also fell short of the IBIT total.

Nasdaq calls for higher position and exercise limits for IBIT options

Demand for IBIT-linked options has been strong in 2025. This prompted Nasdaq ISE to file a proposal with the United States Securities and Exchange Commission (SEC) to expand the trading capacity of Bitcoin ETF-linked options.

In a Federal Register Notice Towards the end of November, the exchange requested that the position and exercise limits of IBIT options be increased from the current 250,000 contracts per side to one million contracts. This puts IBIT in the same liquidity tier as major global equity benchmarks such as iShares MSCI Emerging Markets and iShares China Large-Cap ETF.

Good catch.. new proposal to increase position limits on IBIT options to 1 million contracts. They just raised the limit to 250,000 (from 25,000) in July. $IBIT is now the world’s largest Bitcoin options market by open interest.

– Eric Balchunas (@EricBalchunas) November 26, 2025

In its filing, Nasdaq ISE included detailed analysis comparing IBIT’s market capitalization, average daily volume and liquidity to those of ETFs that already assume million contract limits. He also noted that even if there were a position of one million contracts fully exercised, that would equate to just 7.5% of the IBIT float and just 0.284% of all BTC in existence.

IBIT interrupts cash outflow sequence

The growing number of IBIT-linked options contracts comes as the Bitcoin ETF managed to end its outflow streak.

According to data According to Farside Investors, IBIT saw net daily inflows of $120.1 million during the last trading session, representing the highest amount recorded by any US Bitcoin ETF for the day.

This follows two consecutive days of outflows for the BTC investment product, which saw more than $170 million leave its reserves. Even with these recent capital outflows, IBIT continues to lead the market in terms of cumulative inflows.

Since the launch of spot Bitcoin ETFs in the United States in early 2024, $62.620 billion has flowed into IBIT. The next cumulative inflow of $12.127 billion belongs to Fidelity’s FBTC product.

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