Bitcoin achieved a new all-time record, reaching $94,000 today.

• Spot bitcoin ETF options are available now on NASDAQ.
• There was significant demand from traders for this product.

At the time of reporting, Bitcoin was trading above $94,000, reflecting an increase of over 4% in the last 24 hours, surpassing its previous high of $93,450 set on November 13.

Options contracts permit investors to buy or sell an asset at a specific price within a defined time frame. This launch is particularly notable for retail investors and financial institutions, as noted by Noelle Acheson, former head of market insights at Genesis, who stated that it will enhance market sophistication and boost investor confidence in the asset.

"Institutions will be drawn to the increased flexibility and ability to gain high-volume exposure. Options grant more nuanced expressions of investment opinions and can amplify exposure relative to investment outlay—an attractive feature for larger investors," Acheson summarized.

"So far, several hundred million in options volume on IBIT has been reported, with a heavy number of call options reflecting expectations of rising Bitcoin prices," ETF analyst Eric Balchunas shared on X.