BlackRock’s Bitcoin Trust Options Open Interest Hits $27.6B, Bulls Set $110K Target
IBIT options open interest surpassed $27.6 billion, overtaking offshore Deribit volumes and cementing the US-regulated market’s depth for hedging and covered-call strategies. Call option activity reflects bullish Bitcoin targets around $110,000, while Tennessee has banned all crypto ATMs by July 1, 2026 after $142 million in scam losses.
1. Open Interest Milestone
Open interest for options linked to BlackRock’s iShares Bitcoin Trust exceeded $27.6 billion this week, surpassing offshore Deribit volumes and signaling that the US-regulated market has become the primary venue for Bitcoin derivatives.
2. Hedging Strategies and Price Targets
Institutional allocators are using the depth of IBIT options for covered-call writing and sophisticated hedging strategies, and call activity indicates long-term Bitcoin price targets near $110,000.
3. ATM Ban and Regulatory Impact
Tennessee’s new legislation requires removal of all cryptocurrency ATMs by July 1, 2026 following $142 million in reported scam losses, making it the second state after Indiana to ban kiosks and underscoring the shift toward regulated, transparent infrastructure.
4. Market Context and Outlook
Despite a brief bout of volatility from a canceled diplomatic mission, Bitcoin held around $77,500, suggesting traders prioritize institutional infrastructure developments over short-term geopolitical noise.