iShares 比特币信托 ETF (IBIT) 期权合约交易总敞口达到 20 亿美元，可能帮助将 BTC 推升至 94K 美元的新高

彭博 ETF 分析师 James Seyffart 于 11 月 20 日报道称，“IBIT 第一天期权的最终统计通过 354,000 份合约交易的名义敞口略低于 19 亿美元。”

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.

贝莱德现货比特币交易所交易基金 (ETF) 的期权合约交易总额接近 20 亿美元，这可能有助于推动比特币升至超过 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 分析师 James Seyffart 于 11 月 20 日报道称，“IBIT 第一天期权的最终统计通过 354,000 份合约交易的名义敞口略低于 19 亿美元。”

“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.

他补充道：“这些选择几乎肯定是今天比特币升至历史新高的一部分。”据 TradingView 称，11 月 19 日，Coinbase 上比特币 (BTC) 触及 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.

彭博社高级 ETF 分析师埃里克·巴尔丘纳斯 (Eric Balchunas) 表示，“第一天就达到 19 亿美元是闻所未闻的。”他将其与美国第一只提供比特币敞口的 ETF——ProShares 比特币策略 ETF (BITO)——进行了比较，该 ETF 的交易额为 3.63 亿美元。

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.

新的期权合约赋予投资者以预定价格交易 ETF 股票的权利，使他们能够押注其价格走势。名义敞口衡量期权头寸的市场敞口，考虑相对于比特币的价格变化以及期权合约控制的加密货币的总价值。

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/看涨期权比率为 0.225，这意味着买入押注比特币将上涨的看涨期权的投资者远远超过押注比特币不会上涨的看跌期权的投资者。

IBIT options puts and calls. Source: James Seyffart

IBIT 期权看跌期权和看涨期权。资料来源：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 补充说，这“看起来非常乐观”，尤其是即将在一个月内到期的合约，“这基本上是押注 BTC 的价格将在下个月翻倍。”

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 也认为 IBIT 期权的推出导致了今天的市场上涨。

“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.”

“当交易者购买这些期权时，做市商购买现货 ETF 来对冲交易，”他说。 “结果是 ETF 的大量净买入，导致现货 BTC 的大量净买入。”

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，行业高管 Joe Consorti 表示，这些合约意义重大，因为现货 BTC ETF 的上市选项“打开了通向全球最大、最深的流动性池的大门”。

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

“市场看好比特币的价格将在年底远超 10 万美元，”他在 11 月 20 日期权推出后表示。

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

与此同时，加密资产管理公司 Grayscale 也准备于 11 月 20 日星期三在美国推出其现货比特币 ETF 期权。