BlackRock’s iShares Bitcoin Trust Surpasses Deribit as Top Bitcoin Options Venue

In a significant move that illustrates Wall Street’s expanding influence in crypto markets, BlackRock’s iShares Bitcoin Trust (IBIT) has surpassed Deribit as the top venue for Bitcoin options. After Friday’s expiration, open interest in IBIT-related options was close to $38 billion, while on Deribit, it was $32 billion, Bloomberg reported. Less than a year has passed since the November 2024 debut of IBIT options. The market was previously dominated by Deribit, which was established in 2016 and has long been the leading offshore centre.
This breakthrough signifies a fundamental shift in how Bitcoin is accessed by traders. Liquidity is currently moving more and more towards regulated products at the core of US financial markets, which were previously controlled by offshore exchanges that specialised on leverage.