VIX-Like Gauge for Bitcoin Sees Its First-Ever Options Trade
- BitVol index trade is a 1x2 call spread done at zero cost
- Benchmark is derived from tradable options on Bitcoin
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A Bitcoin “fear gauge” has seen its first trade.
The transaction off the T3i BitVol Index, which measures the 30-day implied volatility of Bitcoin, consisted of a March expiry 1-by-2 call spread that was bought for zero cost, according to a statement from T3. Quantitative crypto asset management firm LedgerPrime was the market-maker, according to the statement, which added that the counterparty is a leading global macro crypto asset manager.