BlackRock Bitcoin ETF Options Hit Record High as $983M Weekly Inflows Power $2.1B Streak
IBIT options open interest surpassed Deribit in 17 months as IBIT logged $983M in weekly inflows, powering a nine-day ETF streak worth $2.1B. On-chain data show net negative spot demand and $2.8B of short liquidations since April 13, suggesting a futures-driven rally fueled by cash-and-carry trades.
1. Record Options Open Interest
Open interest in IBIT options climbed to record levels, surpassing offshore Deribit’s volume in just 17 months of trading. The shift underscores growing appetite among U.S. investors for regulated Bitcoin derivatives and hints at large-scale institutional positioning strategies.
2. Strong ETF Inflows
IBIT attracted $983 million in weekly inflows—the strongest in six months—contributing to a nine-day run that added approximately $2.1 billion to spot Bitcoin ETFs. This sustained demand places IBIT at the forefront of spot Bitcoin flows and cements its role in institutional crypto allocations.
3. On-Chain Signals and Risks
Despite robust ETF purchases, on-chain metrics reveal net negative spot demand and $2.8 billion in short liquidations since April 13, indicating leverage-driven price moves. Market participants warn that reliance on cash-and-carry trades may leave the rally vulnerable if futures funding conditions shift.