#What does BlackRock’s spot Bitcoin ETF mean for traders?
BlackRock’s spot Bitcoin ETF, named IBIT, has recently claimed the title of the world's largest Bitcoin options trading venue, overshadowing Deribit. This shift demonstrates an increasing influence of Wall Street in the crypto derivatives market.
The IBIT ETF boasts approximately $84.6 billion in assets, making it the leading Bitcoin ETF by capital. For context, Deribit previously held the top spot in global Bitcoin options trading volume but has now been surpassed by BlackRock’s impressive ETF product.
How are options tied to IBIT performing?
Options linked to IBIT have seen a significant increase in activity. This surge is contributing not only to price discovery led by the ETF but also to an expanding share of the total crypto options market. In a strategic move, BlackRock has filed for a premium income ETF designed to generate yield through the sale of covered calls on the holdings within IBIT, further amplifying its reach in the market.
BlackRock doesn’t stop at a single ETF. The asset manager is broadening its Bitcoin exposure across various products. For instance, it increased its Bitcoin allocation by 38% in its $17.1 billion Global Allocation Fund. It now holds more than 1 million IBIT shares, valued at $66.4 million as of July 2025.
The activity around IBIT highlights a shift that may have significant implications for traders and investors in the cryptocurrency space. As Wall Street continues to deepen its involvement in the crypto market, understanding these developments becomes essential for anyone looking to navigate the evolving landscape of digital assets.