iShares 比特幣信託 ETF (IBIT) 選擇權合約交易總曝險達到 20 億美元，可能有助於將 BTC 推至 94K 美元的新高

彭博 ETF 分析師 James Seyffart 於 11 月 20 日報稱，“IBIT 第一天期權的最終統計通過 354,000 份合約交易的名義敞口略低於 19 億美元。”

Options contracts on BlackRock’s spot Bitcoin exchange-traded fund (ETF) saw almost $2 billion in total exposure traded, which may have helped propel Bitcoin to its new high of over $94,000.

貝萊德現貨比特幣交易所交易基金 (ETF) 的選擇權合約交易總額接近 20 億美元，這可能有助於推動比特幣升至超過 94,000 美元的新高。

“Final tally of IBIT’s first day of options is just shy of $1.9 billion in notional exposure traded via 354,000 contracts,” Bloomberg ETF analyst James Seyffart reported on Nov. 20.

彭博 ETF 分析師 James Seyffart 於 11 月 20 日報稱，“IBIT 第一天期權的最終統計通過 354,000 份合約交易的名義敞口略低於 19 億美元。”

“These options were almost certainly part of the move to the new Bitcoin all-time highs today,” he added. Bitcoin ( BTC ) hit a new peak of $94,105 on Coinbase on Nov. 19, according to TradingView.

他補充說：“這些選擇幾乎肯定是今天比特幣升至歷史新高的一部分。”據 TradingView 稱，11 月 19 日，Coinbase 上比特幣 (BTC) 觸及 94,105 美元的新高。

“$1.9 billion is unheard of for day one,” Bloomberg’s senior ETF analyst Eric Balchunas said, comparing it with the first ETF offering Bitcoin exposure in the United States — the ProShares Bitcoin Strategy ETF (BITO) — which did $363 million.

彭博社高級ETF 分析師 Eric Balchunas 表示，「第一天就達到19 億美元是聞所未聞的。」他將其與美國第一隻提供比特幣敞口的ETF—— ProShares 比特幣策略ETF (BITO)——進行了比較，該ETF 的交易額為3.63 億美元。

The new options contracts give investors the right to trade shares of the ETFs at predetermined prices, allowing them to bet on its price movement. Notional exposure measures the market exposure from the option position, accounting for the price changes relative to Bitcoin and the total value of the cryptocurrency controlled by option contracts.

新的選擇權合約賦予投資者以預定價格交易 ETF 股票的權利，使他們能夠押注其價格走勢。名目敞口衡量選擇權部位的市場曝險，考慮相對於比特幣的價格變動以及選擇權合約控制的加密貨幣的總價值。

The put/call ratio for IBIT’s first day of trading was 0.225, meaning investors buying calls that bet Bitcoin would rise far outweighed those wagering on puts, those contracts betting it wouldn’t.

IBIT 首日交易的看跌/看漲期權比率為 0.225，這意味著買入押注比特幣將上漲的看漲期權的投資者遠遠超過押注比特幣不會上漲的看跌期權的投資者。

IBIT options puts and calls. Source: James Seyffart

IBIT 選擇權看跌期權和看漲期權。資料來源：詹姆斯·塞法特

Balchunas added that it “seems very bullish,” especially contracts set to expire in a month’s time “which is basically betting price of BTC will double in the next month.”

Balchunas 補充說，這“看起來非常樂觀”，尤其是即將在一個月內到期的合約，“這基本上是押注 BTC 的價格將在下個月翻倍。”

Former CNBC Africa host Ran Neuner agreed that the launch of the IBIT options caused today’s market pump.

前 CNBC 非洲主持人 Ran Neuner 也認為 IBIT 選擇權的推出導致了今天的市場上漲。

“As traders buy these options, market makers buy the spot ETF to hedge the trade,” he said. “The result is huge net buying of the ETF that causes huge net buying in spot BTC.”

「當交易者購買這些選擇權時，做市商購買現貨 ETF 來對沖交易，」他說。 “結果是 ETF 的大量淨買入，導致現貨 BTC 的大量淨買入。”

On Nov. 19, industry executive Joe Consorti said the contracts were a huge deal as the listing options on spot BTC ETFs “opens the doors to the largest and deepest liquidity pools on the planet.”

11 月 19 日，行業高管 Joe Consorti 表示，這些合約意義重大，因為現貨 BTC ETF 的上市選項「打開了通往全球最大、最深的流動性池的大門」。

“The market is bullish that Bitcoin’s price ends the year well over $100k,” he said on Nov. 20 after the options launched.

「市場看好比特幣的價格將在年底遠超 10 萬美元，」他在 11 月 20 日選擇權推出後表示。

Meanwhile, crypto asset manager Grayscale is also preparing to launch options for its spot Bitcoin ETFs on Wednesday, Nov. 20, in the United States.

同時，加密資產管理公司 Grayscale 也準備在 11 月 20 日星期三在美國推出其現貨比特幣 ETF 選擇權。