High-Stakes Play: Trader Positions for 28% Jump in BlackRock’s Spot Bitcoin ETF by June’s End

Options Trader Targets 28% Rally in BlackRock’s Bitcoin ETF With June Call Bet

A large call option trade on Tuesday suggests at least one investor is positioning for a sharp move higher in BlackRock’s spot Bitcoin ETF (IBIT) before the end of June.

The trader purchased 3,000 June 27 $77 call contracts while IBIT was trading at $60.40, representing a wager on a potential 28%+ rally in less than three weeks. The total premium paid was $39,000, according to options data from Barchart.

The trade stands out due to the aggressive strike selection and short time frame, signaling either speculative bullish conviction or a hedge against broader long exposure to Bitcoin or correlated assets.

Sentiment in the options market appears to be shifting in a similar direction. According to Market Chameleon, the one-year put-call skew has flipped negative, meaning calls are now priced at a premium to puts—a classic indicator of strengthening bullish bias.

The bet comes amid a period of consolidation for Bitcoin, with the underlying asset hovering around $104,000, and follows six straight weeks of inflows into Bitcoin ETFs. Traders are watching closely for any policy signals, ETF-related flows, or volatility catalysts that could validate the upside scenario priced into this options position.

As the June 27 expiry approaches, attention may turn to whether such speculative positioning was prescient—or merely a moonshot.