IShares Bitcoin Trust call options volume hits record 1.58M contracts

The options market just delivered its clearest bullish signal on Bitcoin in months. Call options volume on BlackRock’s iShares Bitcoin Trust (IBIT) exploded to 1.58 million contracts in a single session, setting a new all-time record for the spot Bitcoin ETF. What the numbers actually show The record was flagged by Goldman Sachs, which also noted that the 3-day call skew on IBIT surged by 0.05. That’s the largest jump in that metric since January 2025. Call skew measures how much more traders are willing to pay for upside calls versus downside puts. A 0.05 move in three days isn’t subtle, it’s the options market equivalent of the entire room leaning forward at once. Goldman’s data also characterized the session as notably “call-heavy,” grouping IBIT alongside GLD, the SPDR Gold Shares ETF, as standout examples of aggressive bullish positioning on that day. Why IBIT has become the go-to Bitcoin bet BlackRock’s spot Bitcoin ETF has quietly cemented itself as one of the largest Bitcoin-linked products by assets in the US market. Since its launch alongside other spot Bitcoin ETFs in January 2024, IBIT has consistently attracted the lion’s share of institutional inflows, particularly du...