IBIT Options Metrics Live on Glassnode

Crypto Insight Summary: Glassnode has launched more than 40 new metrics tracking options on BlackRock's iShares Bitcoin Trust (IBIT), available to Professional plan users in Glassnode Studio. The company framed the addition as a way to bring institutional-grade volatility intelligence to the largest U.S. spot Bitcoin ETF, covering open interest, volume, max pain, put/call ratios, and at-the-money implied volatility across 1-week, 1-month, 3-month, and 6-month tenors. As of April 29, 2026, IBIT held over $61.1 billion in net assets and averaged more than 41 million shares in daily volume, while its options open interest recently reached approximately $27.6 billion, briefly exceeding Deribit's Bitcoin options open interest of around $26.9 billion. The authors — Glassnode, Dustin Lamblin, and Antonio Manrique de Lara Martín — highlighted that IBIT options offer asset managers hedging tools, volatility traders a U.S.-listed Bitcoin vol market, and structured-product desks new inputs. They emphasized analytical value in comparing IBIT to crypto-native venues like Deribit, which still records daily BTC options volume above 20,000 contracts and more than $2 billion in notional. Citing data from May 5, 2026, the article noted a roughly 15 percentage-point gap in 1-month 25-delta skew between the two venues, with IBIT materially more put-skewed and Deribit modestly call-biased, suggesting ETF-linked investors are pricing higher short-term downside protection than crypto-native traders. Additional metrics include model-interpolated implied volatility at fixed deltas, with the release positioned as a foundation for further analytics. The piece frames IBIT options as evidence of Bitcoin's progression along a traditional financial maturation path from spot to futures to options. Crypto Insight Analysis: Direction: Bullish BTC Impact: Major Impact Horizon: Long-term (1 quarter-1 year) Reasoning: Institutional-grade options metrics for IBIT signal growing sophistication and institutional adoption of Bitcoin.