Bloomberg senior ETF analyst James Seyffart monitoring data shows that the final statistics of BlackRock IBIT options on the first day of listing show that the nominal exposure through 354,000 contracts is slightly less than $1.90 billion, of which 82% are calls (289,000) and 18% are puts (65,000), a ratio of 4.4:1. "These options are almost certainly part of the reason why Bitcoin is hitting record highs today," the analysts said.