28% Upside Ahead? Trader Targets Sharp Move in BlackRock’s Bitcoin ETF This Month

Speculative Options Bet Targets 28% Rally in BlackRock’s Bitcoin ETF Before June Ends

A bold trader is placing a bet that BlackRock’s spot Bitcoin ETF (IBIT) could surge nearly 30% in just a few weeks. On Tuesday, options data revealed the purchase of 3,000 call contracts with a $77 strike price, set to expire on June 27. IBIT was trading at $60.40 at the time of the trade.

The position cost $39,000 in total premiums—small relative to the size of the move required, but large enough to raise eyebrows in the market. For the trade to be profitable at expiration, IBIT would need to climb more than 28% from its current level.

While such out-of-the-money calls often expire worthless, they can also offer massive upside if a strong price catalyst hits—such as renewed ETF inflows, a Bitcoin rally, or macro-driven risk-on momentum.

Market watchers were quick to take note. “This looks like either a moonshot bet or a hedge on significant upside volatility,” said one analyst. “It reflects growing conviction that we could see a big move before the quarter wraps.”

Supporting the bullish tilt, options sentiment has shifted notably in recent days. Data from Market Chameleon shows that call options are now priced more richly than puts, flipping the one-year skew negative—a classic sign that traders are willing to pay more to position for upside.

IBIT, one of the most closely watched spot Bitcoin ETFs in the U.S., has seen volatile flows and strong retail interest in recent months. While it’s unclear what the catalyst might be, this latest bet suggests some traders are bracing for a breakout.