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Bitcoin (BTC) broke above the $94,000 price level for the first time, making a new all-time high at $94,002.87 about ten hours back. This achievement comes on the heels of the highly anticipated listing of U.S. spot Bitcoin exchange-traded fund (ETF) options on NASDAQ.
This surge follows a dip to $91,059.66, highlighting the market’s current volatility. The introduction of spot Bitcoin ETF options is expected to attract significant investment into the digital asset market.
The world’s largest cryptocurrency is currently trading at $92,422.31, up almost 1% in the past 24 hours, according to the data from CoinMarketCap.
Spot Bitcoin ETF Options Now on NASDAQ
According to a report from Bloomberg, following the Tuesday listing of spot BTC ETF options on NASDAQ, investors will be able to bet for or against the future price of the market leading digital asset. Alison Hennessy, head of ETP listings at Nasdaq, confirmed that the stock exchange aimed for an early listing and chose Tuesday for this purpose.
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NASDAQ listed options on asset management firm BlackRock’s iShares Bitcoin Trust (IBIT). Hennessy stated that the new listing “is very exciting for investors because that’s what we have heard from them.” She also confirmed that Blackrock and the stock exchange worked with US regulators to list these options for over 10 months.
Bitcoin’s March Toward $100,000
Many analysts in the digital asset space see Bitcoin claiming the $100,000 price level by the end of the year. The money flowing into the spot BTC ETF sector will also play a crucial role in BTC attaining the significant milestone. As per SoSoValue data, a total of $29.58 billion has flown into IBIT while the total money that has flown into spot BTC ETFs stands at a massive $28.53 billion.
Bitcoin is up 6.43% in the past week and has skyrocketed 34.11% in the past 30 days as well. The leading cryptocurrency is up 149.51% since November 2023 and has a massive market cap of $1.83 trillion. With a trading volume of $75.29 billion, Bitcoin dominates the crypto market.
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