Bitcoin Volatility Index 'BitVol' Makes First Trade
The BitVol index level puts the cryptocurrency's annualized volatility at 100%.
A new bitcoin (BTC) “fear gauge” began trading last week. The T3i BitVol Index from T3 Index, a financial indexing firm, measures the 30-day implied volatility of bitcoin.
The index offers cryptocurrency investors the ability to “trade volatility as a distinct asset class,” said Simon Ho, CEO of T3 Index.
- The BitVol index has settled around an annualized 100% after reaching a high near 170% on January 15, which preceded a roughly 20% price correction in bitcoin.
- Elevated volatility could be a signal of investor fear or uncertainty, while low levels of volatility signal investor complacency.
- The first options trade off the BitVol Index was initiated on March 10, consisting of a March expiry 1-by-2 call spread that was bought for zero cost, Bloomberg reported.
The BitVol Index uses strike prices from tradable bitcoin options across various exchanges, a similar methodology applied by the Chicago Board of Trade’s (CBOE) VIX Index, which investors use to track volatility in the stock market.
Other cryptocurrency volatility indices are widely tracked, such as the BitMEX Daily Historical Bitcoin Volatility Index (.BVOL24H).
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Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
Why it matters:
Digital assets posted a third consecutive quarter of losses in Q2 2026, the longest losing streak since the 2022 bear market, as institutional capital rotated into AI equities and Bitcoin ETFs recorded their largest quarterly outflow since launch. Our report examines what drove the divergence, where structural adoption continued regardless, and what Q3 signals to watch.
