The first-ever trade of BitVol, the bitcoin volatility index created by T3 Index, transacted today with LedgerPrime, a quantitative crypto asset management firm as the market-maker. The counterparty to the transaction was an unnamed leading global macro Crypto asset manager. The transaction consisted of a March expiry 1 x 2 BitVol call spread, where the client bought the spread at even premiums (i.e. at 'zero cost'). BitVol is a measure of the 30-day implied volatility of bitcoin based on tradeable bitcoin options prices; it is also the first bitcoin volatility index. T3 Index previously created the SPIKES Volatility Index.