Bold Options Bet Signals Trader Sees 28% Jump in BlackRock’s Bitcoin ETF by End of June

In a notable show of confidence, one options trader is betting that BlackRock’s spot Bitcoin ETF (IBIT) could rally over 28% in just a few weeks. On Tuesday, 3,000 call contracts with a $77 strike price expiring June 27 were purchased—despite the ETF closing at $60.40.

The trade cost just $39,000 in total premiums, suggesting a high-risk, high-reward wager on a short-term breakout. That strike is deep out-of-the-money, implying the trader sees a catalyst capable of sending IBIT sharply higher before month’s end.

While the rationale behind the trade isn’t clear, analysts say it could reflect either an aggressive directional view or a speculative hedge tied to broader crypto exposure.

“Someone’s positioning for fireworks,” wrote macro strategist EndGame Macro, who flagged the move on X. “This isn’t a slow grind higher. This is a bet on something big coming fast.”

Options sentiment has shifted in recent days. Put-call skews have flipped negative, according to data from Market Chameleon—meaning calls are now more expensive than puts, a signal that bullish sentiment is gaining traction.

The trade arrives as Bitcoin trades near $104,000, consolidating just below recent highs. With IBIT flows stabilizing and market volatility creeping back up, traders appear to be preparing for an explosive move—possibly fueled by macro catalysts, regulatory developments, or another wave of institutional inflows.

For now, all eyes are on the June 27 expiry. If IBIT pushes toward $77, this trade could go from speculative long shot to sharp profit in days.