BlackRock's IBIT surpasses Deribit to become the world's largest Bitcoin options trading venue

ChainCatcher news, according to Bloomberg, BlackRock's iShares Bitcoin Trust has surpassed Coinbase's Deribit platform to become the largest trading venue for Bitcoin options.

After the contract expiration last Friday, the open interest for options related to the Nasdaq-listed IBIT was nearly $38 billion, while Deribit's figure was $32 billion. Established in 2016, the Deribit platform has dominated the Bitcoin options market for years. This highlights a structural shift in the crypto market, moving from a leverage-driven derivatives trading hub to a core area regulated by the U.S. financial system. IBIT currently manages $84 billion in assets, making it the largest Bitcoin ETF in the world. The rapid growth of its options business is creating a virtuous cycle: increased liquidity enhances its legitimacy, which in turn attracts more capital inflow.