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BlackRock's Spot Bitcoin ETF Options Secure U.S. Top 10 Ranking With 7.7M Active Contracts

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BlackRock's Spot Bitcoin ETF Options Secure U.S. Top 10 Ranking With 7.7M Active Contracts

IBIT options are the ninth largest in the U.S.

By Omkar Godbole, AI Boost|Edited by Sam Reynolds
Updated Dec 3, 2025, 8:46 a.m. Published Dec 3, 2025, 7:13 a.m.
IBIT options secure top 10 spot.

What to know:

  • Options tied to BlackRock's bitcoin ETF (IBIT) have surged to become the ninth largest in the U.S. market, with over 7.7 million contracts open.
  • IBIT options have surpassed those of gold ETFs and major tech stocks, highlighting bitcoin's growing appeal as a macro asset.
  • Despite a decline in bitcoin's price, IBIT options have been more active than those tied to the SPDR Gold Shares ETF, which has seen a 50% rise this year.

Options linked to cryptocurrencies are booming across U.S. markets, so much so that contracts tied to BlackRock's bitcoin ETF (IBIT) have cracked the top 10 U.S. list in just over a year after debut.

As of Tuesday, a total of 7,714,246 IBIT contracts were active or open, the ninth largest tally among options tied to U.S.-listed stocks, ETFs and indices, according to data source optioncharts.io. Among stocks alone, IBIT options rank second in open interest.

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BloFin Research said that the growing popularity of options tied to IBIT indicates BTC's appeal as a macro asset.

"IBIT options open interest has reached ninth place in the US market. If Deribit's open interest is included, it rivals VIX and SPY options, further solidifying its position as one of the most popular macro assets," the research firm told CoinDesk.

IBIT options debuted in November 2024, enabling effective risk management for ETF holders and providing institutions regulated options access. Since then, traders have used these options for hedging, speculation and yield-generating strategies such as covered calls.

Options are derivative contracts that give the purchaser the right to buy or sell the underlying asset at a predetermined price at a later date. A call provides the right to buy while a put option offers the right to sell.

Busier than gold ETF options

IBIT options have been busier than the SPDR gold ETF contracts, even though the yellow metal has surged 50% this year, outshining BTC's -0.1% drop.

On Tuesday U.S. time, open interest in options tied to the SPDR Gold Shares ETF stood at 5,151,654 contracts, well behind IBIT.

Options tied to technology heavyweights such as Intel, Apple, Netflix, Amazon, and Tesla, and ETFs tied to emerging markets and 20-year Treasury notes also lagged IBIT.

If that's not enough, open interest (OI) in the Nasdaq-listed IBIT options topped bitcoin options OI on Deribit, the crypto options pioneer, at the end of September.

Meanwhile, S&P 500 and Nvidia options were industry leaders on Tuesday with open interest of over 20 million contracts each.

Bitcoin NewsBlackRock
AI Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk's full AI Policy.

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