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Downside Insurance on BlackRock's Spot Bitcoin ETF is Now Pricer Than Bullish Bets

IBIT fell 1.32% to $59.99 on Thursday.

By Omkar Godbole|Edited by Parikshit Mishra
Updated May 30, 2025, 1:57 p.m. Published May 30, 2025, 12:34 p.m.
IBIT options signal downside fears. (zsoravecz/Pixabay)
IBIT options signal downside fears. (zsoravecz/Pixabay)

What to know:

  • Early Thursday, CoinDesk reported a bullish-to-neutral shift in sentiment regarding BlackRock's spot bitcoin ETF.
  • By the end of the day, market sentiment turned slightly bearish with a positive put-call skew of 0.2%.
  • IBIT fell 1.32% to $59.99 on Thursday, according to data source TradingView.

Early Thursday, CoinDesk reported bullish-to-neutral shift in sentiment in the options market tied to BlackRock's spot bitcoin exchange-traded fund (ETF). But by the end of the day, the situation worsened further, with sentiment turning slightly bearish.

The one-year put-call skew, which reflects how the market prices in volatility risk for put options, offering downside protection, relative to bullish call options, turned slightly positive to 0.2%, according to data source Market Chameleon.

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In other words, the day closed with protective put options trading at a slight premium relative to calls in a sign of renewed bearish sentiment.

IBIT fell 1.32% to $59.99 Thursday, while registering a net inflow of $125 million, the lowest single-day tally since May 13, according to data source SoSoValue.

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