BTOP · IV Rank History

Bitwise Trendwise BTC/ETH and Treasuries Rotation Strategy ETF · ETF

IV rank shows where BTOP's implied volatility sits within its own recent range: 0 is the lowest reading in the window, 100 the highest. This page gives the 52-week version, the 90-session version our screeners use, the IV percentile, and the daily history.

BTOP's 30-day at-the-money implied volatility was 77.5% as of May 21, 2026. Its 52-week IV rank is 34 and its IV percentile is 91%: IV was lower on 91% of the past year's sessions. Over those 52 weeks it ranged from 25.7% (Aug 12, 2025) to 177.1% (Jan 5, 2026). On the 90-session window our screeners use, the IV rank is 75.

BTOP IV rank history

474 sessions

Filled line: 90-session IV rank (0–100, left axis). Dashed line: 30-day at-the-money implied volatility (right axis).

BTOP IV rank and implied volatility as of 2026-05-21

52-Week IV Rank
34
0 = year low, 100 = year high
IV Percentile
91%
of past-year sessions had lower IV
90-Session IV Rank
75
used by our screeners
30-Day ATM IV
77.5%
1-year average 53.2%
52-Week IV High
177.1%
2026-01-05
52-Week IV Low
25.7%
2025-08-12
History Since
2024-06-05
474 sessions

How these are measured. Implied volatility here is BTOP's 30-day at-the-money IV: the implied volatility of the calls and puts struck nearest the share price, blended between the expirations on either side of 30 days so every reading covers the same horizon. It's the IV level options traders usually quote, and it doesn't jump when the nearest expiration rolls from a weekly to a monthly. The 7-day figure is the same measure a week out, so it reacts first to near-term events such as earnings.

52-week IV rank = (today's IV − 52-week low) ÷ (52-week high − 52-week low) × 100. IV percentile is the share of the past year's sessions that closed with lower IV than today. The 90-session IV rank applies the same rank formula to the last 90 sessions, so it reacts faster.

A high reading means BTOP options are expensive relative to their own recent history, which is common ahead of earnings or after a sharp move. It says nothing about which way the stock will go. The Vol Arb Screener ranks every tracked symbol by these measures.

BTOP implied volatility by month

MonthAvg ATM IVHighLowAvg IV Rank (90-session)
May 2026 (to date) 55.0% 77.5% 48.9% 12
Apr 2026 54.6% 62.3% 45.8% 8
Mar 2026 61.2% 69.2% 48.8% 16
Feb 2026 67.2% 88.7% 60.2% 25
Jan 2026 74.6% 177.1% 43.1% 32
Dec 2025 83.5% 104.6% 69.3% 84
Nov 2025 53.4% 74.1% 42.7% 78
Oct 2025 39.4% 49.5% 30.3% 32
Sep 2025 35.5% 40.0% 31.6% 23
Aug 2025 32.9% 35.7% 25.7% 9
Jul 2025 41.5% 66.1% 33.5% 9
Jun 2025 54.8% 68.8% 41.6% 27
May 2025 46.2% 62.1% 35.7% 8
Apr 2025 69.9% 90.5% 53.2% 42
Mar 2025 66.6% 107.0% 57.7% 37
Feb 2025 68.5% 83.8% 52.9% 40
Jan 2025 59.9% 71.4% 50.3% 27
Dec 2024 65.5% 106.9% 42.8% 41
Nov 2024 54.4% 74.9% 48.0% 24
Oct 2024 55.4% 63.4% 49.4% 26
Sep 2024 58.2% 63.6% 52.8% 38
Aug 2024 64.9% 71.3% 57.9% 74
Jul 2024 55.1% 61.0% 50.1% 51
Jun 2024 54.7% 59.1% 50.0% —

BTOP IV rank: last 30 sessions

DateIV Rank (90-session)30-Day ATM IV7-Day ATM IV
2026-05-21 75 77.5% —
2026-05-20 12 59.3% —
2026-05-19 11 58.0% —
2026-05-18 12 58.4% —
2026-05-15 9 55.6% —
2026-05-14 6 50.6% —
2026-05-13 6 50.8% 184.0%
2026-05-12 6 50.5% 153.2%
2026-05-11 7 52.9% 142.4%
2026-05-08 7 52.7% 96.9%
2026-05-07 8 54.0% 93.7%
2026-05-06 5 50.1% 77.8%
2026-05-05 4 48.9% 70.5%
2026-05-04 6 50.7% 73.5%
2026-05-01 8 54.3% 74.6%
2026-04-30 9 55.1% 77.4%
2026-04-29 10 56.2% 77.1%
2026-04-28 9 55.5% 72.4%
2026-04-27 9 55.2% 70.4%
2026-04-24 7 52.8% 61.3%
2026-04-23 8 53.2% —
2026-04-22 3 47.2% —
2026-04-21 10 56.0% —
2026-04-20 10 56.2% —
2026-04-17 4 48.4% —
2026-04-16 4 48.8% —
2026-04-15 2 45.8% 221.5%
2026-04-14 7 52.6% 181.6%
2026-04-13 12 59.6% 164.2%
2026-04-10 14 62.3% 121.5%

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.